UK Tax Strategy

Toast UK Tax Policy Statement

This statement has been published to satisfy the reporting obligations in accordance with Schedule 19 to the Finance Act 2016, and applies to all Toast, Inc. (“Toast”) UK group entities (“we”, the “Company”). This statement is effective beginning in the financial year ending 31, December 2023, and will remain in effect until any amendments are approved by the Company’s Board of Directors.

Overall Tax Strategy

We are committed to corporate tax responsibility, and our tax strategy is to comply with all pertinent rules and regulations, and to pay the amounts of tax that are legally due.  We put in place responsible and competent tax management and have governance and processes in place to ensure that we meet our UK tax compliance obligations. We seek external professional guidance where needed to reduce and mitigate tax risk. 

Attitude Towards Tax Planning

We do not implement aggressive tax planning strategies in the UK, and our intent  is to continue to be fully tax compliant as required by law.  The tax and finance functions support the core business of the Company, and we assess what must be done in order to achieve tax compliance when we enter into transactions or make changes to the business.  

Management of UK Tax Risk

We are subject to a variety of direct and indirect taxes in the UK including corporation income tax and VAT, and we have processes and controls in place to ensure that we achieve UK tax compliance.  Tax risks and controls are overseen by executive management, and Toast’s Chief Financial Officer is the ultimate party responsible for tax matters.  The day-to-day responsibility is delegated to Toast’s Head of Tax, who is supported by a team of qualified tax professionals.  We seek external professional guidance from tax advisors when tax treatment is unclear or complex, in order to help manage the Company’s compliance in the UK and globally.  

Relationship With the HMRC

We are committed to maintaining a transparent, cooperative and compliant relationship with the HM Revenue and Customs (“HMRC”), as we are with all governmental tax authorities.  We value working openly with the tax authorities to answer any queries they may have and we are committed to resolving any disagreements through transparent discussions.