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UK Tax Strategy

Party City Holdco Inc. UK Group

Tax Strategy

Party City Holdco Inc. (“Party City”) is the leading party goods retailer in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue.  Our products are available in over 100 countries, with the UK, Germany, Australia and France among the largest end markets for our products outside of North America. Party City is publishing its tax strategy in accordance with Paragraph 16(2) and Schedule 19 of the Finance Act 2016.  This strategy applies to the UK subsidiaries (“UK Group”) of Party City.

  • Amscan Holdings Limited
  • Amscan International Limited
  • Party Delights Limited
  • Party HQ Limited
  • PD Retail Group Limited
  • Christy Dressup Limited
  • Christy’s By Design Limited
  • Christy Garments and Accessories Limited

The UK Group manages corporate income taxes, VAT, employment taxes, customs and excise duties, business rates and stamp duties.  

Party City’s overall tax strategy is to:

  • Comply with UK tax law and practice in a responsible manner.
  • Utilise available tax reliefs and incentives in accordance with the government’s policy objectives and the spirit of the law.
  • Have an open and constructive relationship with the UK tax authorities.
  • Ensure that the UK tax strategy is consistent with Party City’s overall strategic business objectives and conforms to Party City’s Code of Business Conduct and Ethics.

I. Approach to UK Group Risk Management and Governance

Party City oversees the UK Group’s relationship with the UK tax authorities and guides the tax strategy as it relates to the UK.  Our UK finance team manages tax locally and regularly consults with the US parent company’s tax department on matters of tax risk, and where needed seek further support from our professional advisors.  We structure our tax affairs to be compliant with tax legislation, and recognise that managing tax compliance is increasingly complex. As such we have well developed and established internal controls which are monitored on an ongoing basis to ensure that the policies and procedures that support our approach are in place, maintained and followed to ensure strong governance.   

Party City has a published Code of Business Conduct and Ethics, which delineates our commitment to adhere to the highest standards of ethical business conduct.  We identify and manage tax risks that may affect the achievement of our business plans and strategic objectives, our shareholder value and our reputation, through our risk management process. 

II. Approach to Tax Planning Affecting UK Taxation

Party City may undertake tax planning as part of our overall business strategy in order to allow the UK Group to manage its activities in a tax efficient manner.  Any tax planning is aligned with commercial and economic reality.  We do not aim to engage in artificial tax arrangements for the sole purpose of obtaining a tax advantage.  We seek professional advice on a transactional basis, to ensure that our tax planning is in accordance with local rules and regulations.

III. Approach to Level of Risk in Relation to UK Taxation 

The UK Group views compliance with tax laws as key to managing the level of tax risk, and strives to achieve as much certainty as possible with respect to UK Group tax matters.  We seek to fully comply with our regulatory obligations, and enter into transactions that are primarily motivated by commercial business reasons and not solely to gain a tax advantage.

Party City works with the UK Group to put in place processes that ensure that tax is considered as part of the decision-making process for all material transactions the business undertakes.   We maintain risk management measures and controls that help us to identify, assess and manage tax risks.  Further 

IV. Approach toward Dealings with HMRC

Party City and its subsidiaries, including the UK Group, are committed to maintaining an open, transparent and collaborative working relationship with HMRC.  External tax advisors are employed to provide assistance with regard to certain tax matters, and we would seek to consult with HMRC where appropriate to obtain certainty of treatment, thereby further reducing tax risk.  

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