Group Tax Policy Statement

The Elmdene Group – which includes Elmdene Group Ltd (“Elmdene Group”), Douglass Joint Holdings Ltd, The Millboard Company Ltd, Millboard Inc, Millboard SAS, Millboard France SAS, and Millboard GmbH is committed to paying all the taxes that we owe in accordance with the spirit of all tax laws that apply to our operations. We believe that paying our taxes in this way is a clear indication we can give of being responsible participants in society and of our agreement with the principle of government. 
  

We will fulfil our commitment to paying the appropriate taxes that we owe by seeking to pay the right amount of tax, in the right place, at the right time. We aim to do this by ensuring that we report our tax affairs in ways that reflect the economic reality of the transactions that we undertake during the course of our trade. 
 

Elmdene Group will not seek to abuse options made available in tax laws, nor the allowances and reliefs that they provide. Nor will we undertake specific transactions with the sole or main aim of securing tax advantages that would otherwise not be available to us based on the reality of the trade that we undertake. 
 

The company will never knowingly undertake transactions that would require notification to HM Revenue & Customs under the Disclosure of Tax Avoidance Schemes (DOTAS) Regulations or participate in any arrangement to which it be may reasonably anticipated that the UK’s General Anti-Abuse Rule might apply. 
 

We believe tax havens undermine the UK’s tax system. As a result, whilst we may trade with customers and suppliers genuinely located in places considered to be tax havens, we will not make use of those places to secure an unfair tax advantage, nor will we take advantage of the secrecy that many such jurisdictions provide for transactions recorded within them. 
 

Elmdene Group’s accounts will be prepared in compliance with this policy and will seek to provide all the information that users, including tax authorities in the UK, the US, France and Germany, might need to properly appraise our tax position. 

Elmdene Group has achieved independent certification of its tax affairs from the Fair Tax Foundation and will continue to submit to relevant independent scrutiny, to verify compliance with this policy. 

Directors of Elmdene Group Ltd, 
November 2025