We shift wealth from financial markets to nonprofit organisations and charitable initiatives.

This statement of Fair Tax compliance was compiled in partnership with the Fair Tax Foundation (“FTF”) and certifies that Bayesian Shift Ltd (“the Company”) meets the standards and requirements of the FTFs UK Small Business Standard for the Fair Tax Mark certification.

Our Tax Policy

The Company 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 the clearest indication we can give of being responsible participants in society. 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, and 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.

We will not seek to use those options made available in tax law, or the allowances and reliefs that it provides, in ways that are contrary to the spirit of the law. 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 undertake transactions that would require notification to HM Revenue & Customs under the Disclosure of Tax Avoidance Schemes Regulations or participate in any arrangement to which it might be 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 a tax advantage, and nor will we take advantage of the secrecy that many such jurisdictions provide for transactions recorded within them.

Our accounts and tax returns will be prepared in compliance with this policy and we will seek to provide all the information that users, including HM Revenue & Customs, might need to properly appraise our tax position.

Our Tax Disclosures

The average net profit before tax over the last three accounting periods ending on 31 March 2024 was £496,688. The expected tax charge on these average profits would be £104,304 (21.00%). In fact, our actual average current tax charge over this period was almost the same at £104,510 (21.04%). A couple of tax adjustments had arisen during the period which attributed to this slight difference, and these are explained below in the following current tax reconciliation with accompanying footnotes:

As at 31 March 2024, the Company had no deferred tax assets or liabilities on its Statement of Financial Position; and had no movements in deferred tax expensed or credited to the Statement of Income and Retained Earnings.

¹ Expenses not deductible for tax purposes – some business expenses, although entirely appropriate for inclusion in the accounts, are not allowed as a deduction against taxable income when calculating the tax liability. Examples of such expenses are non-staff entertaining.
² Depreciation in excess of capital allowances – the accounting and tax treatments of fixed assets are different. For accounting, fixed assets are depreciated over their useful lives. For tax, there are specific rules on what can be claimed. These differences create a tax adjustment, which is only a timing difference. Eventually, the total depreciation in the accounts will match the total capital allowances in the tax returns. During the period under review, the tax treatment of our fixed assets was slightly less favourable than how we had accounted for them.