Modern Day Slavery Statement

This statement is made pursuant to section 54 of the Modern Slavery Act 2015. It sets out the steps taken by VAT Loans Limited in relation to the prevention of modern slavery and human trafficking in its business and business relations. VAT Loans has a zero-tolerance approach to modern slavery both within the company and with partners/customers that we work with.

VAT Loans is committed to acting ethically and with integrity in its business relationships. Nor do we discriminate against ethnicity, and we employ a number of staff with varied ethnicity.

Our organisation

VAT Loans is a well-established provider of asset finance and leasing for equipment to companies in the UK. VAT Loans also provide a range of loans in the form of VAT, Corporate and Tax loans. We have around 30 members of staff across our office based in High Wycombe.

Our Business Model

VAT Loans works alongside a range of partners in providing a fluent asset finance and leasing solution to their customers. With partners operating in a range of sectors from IT equipment to gym and many more. VAT Loans also provides a finance and leasing solution direct to our customers. Generating leads from a range of marketing activities and business relationships built over years of operating in the finance industry.

Having reviewed our business operations and relationships, we therefore believe that we are compliant to the modern slavery act of 2015. Confirmed by our due diligence and fraud checks for every single partner/supplier and customers that we work with.

Due diligence

VAT Loans carries out due diligence on suppliers in high-risk areas and has developed procedures for assessing those suppliers. This therefore ensures that we only select suppliers who comply with our high standards and policies. The same also applies for our customers that come direct to VAT Loans.

VAT Loans has an internal team responsible for assessing information and documentation submitted by suppliers. However, there may be cases where a supplier refuses to provide any information required, or meet VAT Loans’ expectations. This therefore may result in VAT Loans not entering into a relationship with them or terminating any current relationship with either customer or supplier.

Policies

Our policy is to assess and address the risks of violations of anti-human trafficking and anti-modern slavery laws. We adopt procedures that contribute to ensuring modern slavery does not occur in any of our business operations. We also expect organisations with whom we do business to adopt and enforce policies to comply with the legislation.

VAT Loans has a number of policies which aim to minimise the risk of modern slavery in our supply chain. These include our whistleblowing policy which encourages staff to report any concerns including any related to modern slavery/trafficking and child and forced labour. In terms of employment, we have a thorough recruitment process in line with UK employment laws. This includes: ‘right to work ‘ document checks, contracts of employment and checks to ensure everyone employed is 16 and above. Additionally, we offer market-related pay, wellbeing activities, and initiatives to support our staff’s physical and mental wellbeing.

Further steps

We will continue to review our procurement process and engage with our suppliers and customers. We will continue to provide training on modern slavery to new and existing staff.