Nucleus Financial Platforms Group
UK Tax Strategy

Nucleus Financial Platforms Group (“Nucleus”, “the Group”) is one of the UK’s leading independent groups for investment platforms, products and wealthtech software. It’s the only large-scale group with a comprehensive range of bespoke platform solutions to meet the needs of advisory and investment management firms of all sizes.

It operates the Nucleus Wrap and James Hay Online retail investment platforms, and through Curtis Banks and Talbot and Muir is one of the UK’s largest administrators of SIPP and SSAS products.

With the wealthtech expertise of Third Financial and Dunstan Thomas, Nucleus now powers some of the industry’s leading product providers, advisory firms and consolidators, discretionary investment managers, and institutions, with enterprise wide, platform software solutions.

Scope

This tax strategy has been prepared and published in accordance with Schedule 19 of the Finance Act 2016, by Nucleus Financial Platforms Ltd on behalf of all UK tax resident entities in the Plutus Topco Ltd group of companies. This tax strategy is applicable for the year ending 31 December 2025.

This strategy has been approved by the Board of Directors and is applicable to all tax activities across the Group.

Group Tax Strategy

Nucleus seeks to comply with all applicable laws, rules and regulations without exception and to paying the amount of tax legally due in any territory in accordance with rules set by the relevant authorities.

This strategy applies consistently across all taxes and jurisdictions in which we operate.

The strategy has been developed to support our purpose, to make retirement more rewarding, and the strategies and beliefs adopted to achieve this.

Approach to risk management and governance in relation to taxation

Nucleus operates a group wide risk management framework, which includes the management of tax risks.

The Board of Directors are responsible for the overall strategy and risk profile of the business. The Chief Financial Officer (CFO) has responsibility at Executive Committee level and advises the Board and Audit Committee on the tax position and risks of the Group.

Tax risk is managed through a tax control framework which ensures that tax risks are actively evaluated, monitored, and reported to ensure compliance with the tax strategy. Regular reporting on tax matters is provided to the CFO and Group Financial Controller.

This structure ensures that fundamental tax risks and affairs are reported and considered at Board level.

Our tax team is staffed by professionals equipped with appropriate knowledge, experience, and capability to manage our tax affairs and maintain oversight of the tax risks across the Group. Appropriate training and support is provided to all staff who manage, or process matters which have a tax implication.

Attitude towards tax planning

Nucleus is committed to observing all applicable laws, rules, regulations and reporting and disclosure requirements in all jurisdictions in which it operates thereby ensuring the right amount of tax is paid. We conduct our tax affairs in line with our desire to achieve certainty and maintain our reputation as a good corporate citizen.

When undertaking commercial transactions, the Group will consider the availability of tax incentives, reliefs, and exemptions in line with, and in the spirit of, tax legislation and the commercial reality of the underlying transaction.

Nucleus has a zero-tolerance approach towards tax evasion or the facilitation of tax evasion by any person(s) acting on behalf of the Group.

Tax risk

Nucleus considers itself to have a low appetite for tax risk and looks to achieve certainty in the Group’s tax affairs.

It aims to manage tax risks through proactive identification, evaluation, and management of tax risks as part of its overall risk management strategy.

Where there is significant uncertainty or complexity in relation to tax risk appropriate advice may be sought from third party advisors or HMRC, and where the law allows, advance clearance will be obtained from HMRC or overseas tax authorities.

Approach to dealings with HMRC

Nucleus adopts an open and transparent approach to dealings with HMRC in the UK. This is achieved through regular communications to ensure HMRC are informed of any changes in the business or significant transactions.

Our tax team represents the Group in its interaction with HMRC and its priority is always to ensure the integrity of our tax affairs and the maintenance of an open and honest relationship. Our tax submissions are prepared on a full disclosure basis and while every effort is made to ensure all tax filings are accurate, where errors in submissions are identified, we notify HMRC of these promptly and work with HMRC to rectify the position.

Nucleus is committed to adopting a similar approach with tax authorities in overseas jurisdictions in which it operates.

All dealings with tax authorities are undertaken in a courteous, collaborative, and timely manner.

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