Ethical Property has today secured its first Fair Tax Mark certification, and joins the growing movement of responsible businesses who are proud to ‘say what they pay with pride’.
Ethical Property create places for people with purpose, with 21 centres across England, Scotland and Wales housing 276 organisations that include charities, social enterprises, small businesses and not-for-profits.
The Fair Tax Mark is an independent certification, which recognises organisations that demonstrate they are paying the right amount of corporation tax in the right place, at the right time. More than 60 businesses have now been certified. These include national brands such as Timpson, Lush, and Richer Sounds, FTSE listed companies including SSE and Marshalls Plc., as well as co-operatives, family businesses and social enterprises.
As part of the accreditation process, Ethical Property has published a new taxation policy which shuns tax avoidance and the artificial use of tax havens, and has provided additional detail on what taxes it pays and why.
Cate Teideman, Finance Director, Ethical Property said: “Many UK property companies register their assets in offshore companies to reduce tax liabilities. We at Ethical Property think that companies should pay fair tax to support a fair society.”
Paul Monaghan, Chief Executive, Fair Tax Foundation, said: “We are delighted to announce during Fair Tax Week that Ethical Property has secured the Fair Tax Mark, and is demonstrating a deep commitment to leading edge responsible tax conduct. It’s great to see Ethical Property ‘say what they pay with pride’, and for this to be part and parcel of their mission to provide property in support of organisations that are striving to create a more equal and just society.
“The public rightly expects responsible behaviour, but far too often they’re reading headlines that describe the tactics businesses employ to avoid contributing the tax they should to the public purse. It is estimated that annually, due to corporate profits being shifted to tax havens, corporate tax revenue losses in the UK amount to at least £7bn. Just think of the nurses, doctors and teachers we could employ, or the renewable energy infrastructure we could build if that tax was paid as it should be?”