After already long paths, a new and exciting road lies ahead of us now.
BCS Automotive Interface Solutions combines the experience of a long-standing automotive supplier with a history of more than 70 years and 3,600 employees globally with the excitement of a newly established business based on the recent move to become a standalone company. Read the whole story of our early beginnings, our position today and our vision for the future.
How we became who we are.
The history of BCS Automotive Interface Solutions goes back until 1949 when Werner Messmer founded Messmer Radolfzell, today’s facility in Radolfzell, Germany. In the 1970s, the US American automotive supplier TRW acquired first Werner Messmer and shortly after that SIPEA in Italy.
Lucas Industries, a British manufacturer of automotive and aerospace components acquired Kelsey-Hayes in the US in 1994. That entire business was assumed by TRW in 1999.
Until 2012, BCS Automotive Interface Solutions consisted of two regional business units, Body Control Systems North America and Body Control Systems Europe & Emerging Markets. In that year it became a global business.
With that, starting to focus on company culture, our vision ‘Be the global leader in automotive interface solutions’ was established and will continue to be our long-term goal.
In 2015, the German automotive supplier ZF Friedrichshafen acquired TRW. During that time from then to now, the BCS business has started to put high attention to the changing automotive market and to invest into new technologies.
Who we are.
Since end of April 2018, BCS Automotive Interface Solutions is a standalone company. BCS stands for Body Control Systems which has been the name of the business during the time when it belonged to bigger corporations.
BCS Automotive Interface Solutions is an automotive supplier specialized in solutions for the vehicle interior to ensure a safe and comfortable control of the car by the driver. It has about 3,600 employees and is operating locations and engineering centers in North America, Europe and Asia Pacific. Being present in 10 countries with 8 manufacturing facilities and 13 Sales and Engineering locations, BCS Automotive Interface Solutions has a footprint in all automotive relevant regions and support its customers globally. In 2020 it generated a revenue of about 700 million US dollar.
Ownership, no matter if in technological, commercial or social context is the primary value which we as BCS promote and expect from each of our employees to demonstrate in the daily work - to best serve all our stakeholders: our clients, our suppliers, the public, our shareholders and ultimately our employees.
Where we are heading.
The vision to ‘Be the leading global HMI system supplier providing total interface solutions' is our long-term target. To achieve this, our mission is to shape technologies and features used in tomorrow’s vehicle interior. The image of the ‘mobile living room’ supports the idea to create a high level of comfort to guarantee wellbeing, and to create safety to ensure trust into the technologies used in the vehicle interior controls. BCS Automotive Interface Solutions focuses on getting innovative ideas in drivable vehicles. This allows to really experience new technologies – and those might already be in your next car.
BCS Automotive Interface Solutions Ltd. Tax Strategy.
BCS Automotive Interface Solutions Ltd. is part of a multinational BCS group. The UK tax strategy is aligned with the risk management processes and strategy of the BCS Group, which is to ensure that the Group remains compliant with the relevant and applicable tax laws in each jurisdiction in which it operates. The submission of tax filings and remittance of tax liabilities on a timely basis forms a key part of this strategy.
This document sets out the UK tax strategy for BCS Automotive Interface Solutions Limited registered in the United Kingdom for the December 2020 tax year end.
In accordance with Schedule 19 of the Finance Act 2016, this document sets out the UK Tax Strategy for the year ended 31 December 2020, specifically:
The approach of the UK group to risk management and governance arrangements in relation to UK taxation.
The attitude of the group towards tax planning (so far as affecting UK taxation) and the level of risk in relation to UK taxation that the group is prepared to accept.
The approach of the UK group towards its dealings with HMRC.
References to UK taxation are to the taxes and duties set out in paragraph 15(1) of Schedule 19 which includes Income Tax, Corporation Tax, PAYE, NIC, VAT and Stamp Duty Land Tax.
Management of tax risk
The Group’s overall purpose is “To do good “which includes being compliant with local laws and legislations. The Group Chief Financial Officer (CFO) and Global Head of Accounting, Tax & Internal Audit are responsible for the tax affairs of the group.
The day to day responsibility for tax risk in UK is managed by the Global Head of Accounting, Tax & Internal Audit and local Controller.
The CFO is regularly updated on tax matters by the Global Head of Accounting, Tax & Internal Audit. Through this open and regular communication, the importance of tax compliance and managing and minimising tax risk for the UK group is highlighted.
The Global Head of Accounting, Tax & Internal Audit also has regular communications with the Finance departments located in other jurisdictions, to ensure that any potential cross border risks which may arise are monitored and minimised. The Global Head of Accounting, Tax & Internal Audit has defined policies and controls which form the basis of the UK tax strategy and ensure that it remains compliant with the relevant UK tax legislation.
The tax risk is managed by:
• Employment of sufficiently qualified and trained staff
• Implementing processes and procedures to ensure the transactions are captured correctly in the financial system
• Implement financial systems that are compliant with local tax requirements
• Implementing processes to comply with tax deadlines
• Monitoring changes in legislation and the effects it would have on the business
• Identify and discuss significant tax transactions
• Making use of external taxation service providers where required
• Implementing processes in place to remit tax payments in a timely manner
• Being proactive, transparent and maintaining good relationships with when dealing with the Her Majesty’s Revenue and Customs department (“HMRC”)
Tax initiatives are implemented once the group’s values, reputation, corporate and social responsibilities have been considered. All tax transactions will only be implemented if the in line with the commercial and business requirements of each company.
As a multinational group, consideration is given to international tax guidelines.
Appetite for risk
BCS Automotive Interface Solutions Limited appetite for risk is low. Understanding the business operations is the key objective in order to manage tax risk. This allows the local Controller to review and analyse the required compliance and tax reporting matters as all tax transactions are considered together with the business and commercial purpose of the transaction.
Relationship with the HMRC
BCS Automotive Interface Solutions Ltd. has an open and positive relationship with HMRC which is maintained through regular communication by making appropriate disclosure of all related tax issues through submission of tax returns and in responding to information requests in a timely manner.
All dealings with the HMRC will result in any non-compliance to be rectified in a co-operative and timely manner.