Fair Tax Mark

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The Fair Tax Mark[1][2] is an independent accreditation awarded after an assessment based on "Transparency [and] tax rate, disclosure and avoidance"...[3] As of January 2016, it is applicable to UK businesses.[4][5] The process of assessing a company for the mark is intended to be initiated by the company that wants the mark.

The mark is awarded by the company Fair Tax Mark Limited, a not-for-profit community benefit society, incorporated 18 February 2014, company number IP032308.[6] The Tax Justice Network assisted in raising initial funding, and it is supported by a number of other organisations[7] including the Public and Commercial Services Union.[8] Before the present company was formed an "earlier incarnation" undertook a pilot study in June 2013.[9]

The company says that it is "a hybrid organisation that raises money through commercial activities (licensing the mark) but also raises money through grant fundraising and individual donations.".[7]

Tax policy[edit]

In their directors' report in their financial statements for the period ending 31 December 2014, Fair Tax Mark Limited committed themselves to paying taxes "in accordance with the spirit of all tax laws" and not to use options, allowances, or reliefs, or undertake specific transactions, "that are contrary to the spirit of the law".[10]

Awardees[edit]

The first organisations to be accredited, in February 2014, were Midcounties Co-operative, The Phone Co-op and Unity Trust Bank.[11]

As of June 2018, 44 companies had been awarded the mark, including SSE plc,[12] the first FTSE100 company to achieve the mark.[2][13]

Other notable awardees include AMT Coffee, Go-Ahead Group (FTSE 250), Lush Cosmetics, the Timpson Group and The Co-operative Group.[14]

References[edit]

  1. ^ Scott, Craig (20 February 2014). "Fair Tax Mark to reward tax justice". London: The Guardian. Retrieved 1 October 2017. 
  2. ^ a b Houlder, Vanessa (2 February 2015). "Companies debate merits of 'fair tax' kitemarkFair Tax Mark to reward tax justice". London: Financial Times. Retrieved 1 October 2017. 
  3. ^ "Fair Tax Criteria". Fair Tax. Retrieved 21 January 2016. 
  4. ^ "The Fair Tax Criteria". Fair Tax. Retrieved 21 January 2016. 
  5. ^ "What's the Fair Tax Mark?". Fair Tax. Retrieved 23 January 2016. 
  6. ^ "Company profile of: FAIR TAX MARK LIMITED". Companies House Data. Retrieved 22 January 2016. 
  7. ^ a b "Who we are". Fair Tax. Retrieved 22 January 2016. 
  8. ^ "Fair Tax Mark highlights good taxpayers". Public and Commercial Services Union. Retrieved 22 January 2016. 
  9. ^ "2013 pilot study". Fair Tax. Retrieved 22 January 2016. 
  10. ^ "Financial Statements" (PDF). Fair Tax. Retrieved 22 January 2016. 
  11. ^ "Fair Tax Mark scheme launches". economia (Feb 2014). ICAEW. Retrieved 10 July 2017. 
  12. ^ "BREAKTHROUGH FOR FAIR TAX CAMPAIGNERS AS SSE PLC BECOMES FIRST FTSE 100 COMPANY TO BE AWARDED FAIR TAX MARK". SSE. Retrieved 22 January 2016. 
  13. ^ Imman, Phillip (20 October 2014). "SSE becomes first FTSE 100 company to be awarded Fair Tax Mark". London: The Guardian. Retrieved 1 October 2017. 
  14. ^ Anca Voinea. "Co-operative Group receives Fair Tax Mark accreditation". Co-operative News.