Remitly UK Ltd. – UK Tax Strategy

Introduction

This document, published on Remitly’s website in accordance with His Majesty's Revenue and Customs (“HMRC”) requirements, sets out the UK tax strategy of Remitly U.K. Ltd. (“Remitly UK” or “The Company”), a subsidiary of Remitly Global, Inc. It has been approved by Remitly UK’s Board of Directors for the financial year ending 31 December 2024, in compliance with paragraphs 19(2) and 22(2) of Schedule 19 to the Finance Act 2016.

This strategy is reviewed annually and updated as necessary to reflect changes in business operations, tax law, or HMRC guidance.

Remitly’s approach to tax is grounded in our broader commitment to transparency, responsibility, and long-term compliance in every market where we operate.

Governance and Risk Management Approach

Remitly is committed to full compliance with UK tax obligations and operates a system of governance designed to ensure that all taxes are accurately reported and paid on time.

Governance Oversight: Ultimate responsibility for UK tax strategy, compliance, and risk management rests with the Board of Directors of Remitly UK, with operational oversight delegated to the Group’s senior finance and tax leadership teams. Our Tax team is staffed by qualified, experienced tax professionals and we maintain accounting systems and strong internal controls sufficient to support our tax compliance obligations. The Board of Directors of Remitly UK receives quarterly updates from these professionals related to tax compliance and key developments.
Control Environment: As a regulated business, Remitly UK upholds strong internal controls and procedures across the organisation, which are regularly reassessed to maintain compliance with evolving business and regulatory landscapes. The Company's tax governance strategy is a vital part of Remitly’s comprehensive governance and risk management framework: it utilises dedicated internal controls to identify and manage tax risks, and Remitly's tax staff collaborates closely with external advisors to ensure accurate UK tax reporting and compliance.
Policies and Processes: Key tax processes are subject to regular internal review and documentation to ensure effective control and operational alignment with HMRC expectations.

Tax Planning

Remitly UK does not engage in aggressive or artificial tax arrangements. Remitly’s robust system of internal controls and processes ensure that facilitation of tax evasion does not occur either internally or by associated persons. All tax arrangements are driven by commercial rationale and business substance, focusing on:

Compliance with both the letter and spirit of UK tax law.
Paying the right amount of tax at the right time.
Supporting legitimate and responsible tax planning that reflects commercial and operational reality, aligned with OECD principles.
Pricing intragroup transactions in accordance with OECD Transfer Pricing Guidelines.

Risk Acceptance

Remitly UK maintains a low appetite for tax risk and seeks to be classified as low-risk under HMRC’s Business Risk Review framework.

Material tax positions are supported by appropriate documentation, benchmarking, and independent expert advice where necessary.
Tax return filings are prepared with a focus on accuracy and completeness.
Transactions are reviewed by Remitly tax staff and external advisors to ensure consistency with both UK tax laws and HMRC guidance.

Working with HMRC

Remitly UK is committed to a transparent, collaborative, and professional relationship with HMRC by:

Proactively engaging with HMRC in a timely, transparent, and professional manner.
Disclosing relevant information where there is uncertainty, in the spirit of full cooperation.
Seeking advance clearances or informal guidance where appropriate.
Timely and constructively responding to HMRC queries, aiming to resolve matters efficiently.