Block UK Tax Strategy

About Block

At Block, Inc. (together with its subsidiaries, "Block" or "we"), we are building technology that enables people and businesses to participate more fully in the economy. Our purpose is economic empowerment, helping individuals and businesses manage, move, and grow their money through simple and connected tools. Block designs and operates connected ecosystems that integrate commerce solutions, financial services, software, hardware, and networks to serve individuals and small businesses. Our platform integrates payments, banking, lending, and commerce solutions designed to provide secure, reliable, and scalable financial infrastructure. We apply data, automation, and AI to improve the speed, accuracy, and usability of our products. Our ecosystem strategy connects these capabilities across both sellers and consumers. The ecosystems share common infrastructure for payments processing, risk management, identity, and data, allowing customers to access multiple products across a connected platform. We continue to invest in capabilities that enhance interoperability and efficiency, including embedded financial services, automation, and open protocols such as Bitcoin.

Block, through its Square product and service offerings, serves millions of sellers around the world. We launched Square in the UK in March 2017 and now support a broad range of small and medium-sized businesses across the UK. The UK is one of several international markets in which Square operates, alongside the U.S, Canada, Japan, Ireland, France, Spain and Australia.

Block also offers the Clearpay product in the UK market. Clearpay became part of Block following its acquisition of the Afterpay Group in 2022 and provides buy now, pay later (BNPL) services in the UK. Through Clearpay, customers are able to pay for purchases in instalments, while sellers benefit from increased sales conversion and customer engagement. Clearpay is integrated with Block’s broader ecosystem of products and services, including Square, to support businesses in offering flexible payment options to their customers.

Block was founded in 2009 and has its principal offices in California and the majority of our research and development takes place in the U.S. Because our products and services are created, designed and engineered in the U.S., that is where we pay most of our tax.

Scope of Policy

The tax policy below applies to Block’s UK affiliates and has been published as required and in accordance with Schedule 19 to the Finance Act 2016. This strategy applies to the following UK entities:

• Squareup Europe Limited
• Squareup International Services Limited
• Squareup (UK) Limited
• Clearpay Finance Limited

It also applies to any UK subsidiaries of these entities. This tax policy applies to all taxes and duties set out in paragraph 15(1) of Schedule 19 to the Finance Act, including corporate income taxes, PAYE, and VAT. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which Block has legal responsibilities

Risk Management and Governance in Relation to UK Taxation

Block’s policy is to comply with all relevant rules, regulations, disclosure requirements and to pay the amounts of tax that are legally due. Block’s Chief Tax Officer, who reports to Block’s Chief Financial Officer, is ultimately responsible for Block UK’s tax strategy and policies.

Block has internal governance procedures set at the executive level. Through people, processes, controls and systems, Block manages tax risks and compliance with tax laws. Block monitors developments in UK and international tax law and practice, including rules affecting digital services and reporting, in order to update its systems and processes in a timely manner and maintain compliance. Where a tax risk is identified, Block’s governance procedures require its escalation and prompt notification to the appropriate senior personnel, including Block executives. In addition, Block may seek to manage tax risks that are complex or uncertain by obtaining advice from external tax advisors or by engaging directly with HMRC.

Block does not accept any form of behavior that facilitates the evasion of tax, whether in the UK or in any other jurisdictions. Block is committed to ensuring that it has procedures in place at all times to prevent tax evasion by anyone acting on its behalf.

Attitude Towards UK Tax Planning and Level of Risk

Block assesses what it must do in order to remain compliant with UK tax rules and regulations and takes appropriate steps to achieve this compliance when it enters into transactions or makes changes to its business. The same approach is taken whenever new tax legislation is introduced or HMRC changes their policies. When there is uncertainty or complexity in relation to the law or its application, Block may seek advice from external advisors. If this is insufficient to achieve certainty or to address the complexity, Block may engage directly with HMRC to better understand the application of the law and ensure compliance. Block’s tax positions and reporting reflect the business activities undertaken in the UK. In respect of transfer pricing, Block is committed to ensuring that it complies with the OECD arm's length standard. Block does not enter into any artificial or abusive arrangements in order to reduce its liability to UK taxes.

Relationship with HMRC

Block is committed to ensure full compliance with all statutory obligations to tax authorities. Block engages with tax authorities, including HMRC, with honesty, integrity and respect. Block’s approach is to be transparent, and to cooperate fully with HMRC in a timely manner. Block discloses all relevant facts when submitting tax computations and returns to HMRC.

This policy was last updated for the year ending 31 December 2025.