Sector special: Fair Tax Mark shows social enterprise values ‘deeply rooted’

In this series for the Fair Tax Foundation, our certified organisations tell us how the Fair Tax Mark has helped open opportunities or overcome challenges specific to their sector. 

Here, Abbas Shapuri, chartered accountant at Third Sector Accountancy, shares why the Fair Tax Mark is so important for a sector rooted in achieving social goals: social enterprises.

For social enterprises, social and environmental goals are the core of their operations. Having these goals independently verified can therefore be key.

Social enterprises are self-sustaining independent businesses that reinvest a majority of their profits to further a clear social or environmental mission. There are more than 131,000 in the UK and more than 43,000 in Spain. And they come in all shapes, sizes and structures.

Demonstrating values

The Fair Tax Foundation have certified a number of social enterprises with the Fair Tax Mark. This is our label that shows the gold standard of tax responsibility and transparency. These organisations include Unlimited Potential, Community Leisure UK and Clean for Good.

A Fair Tax Mark can help verify a social enterprise’s mission. For one Fair Tax Mark social enterprise, Third Sector Accountancy, certification provides just that: a way to demonstrate values.

“The key opportunities with being Fair Tax accredited have been a way for us to show our stakeholders that our values are deeply rooted in our practices,” said Third Sector Accountancy chartered accountant Abbas Shapuri.

“It’s something we’re really proud to support. Internally it sets the standard for the type of organisation we would like to be.”

Third Sector Accountancy are a UK firm of chartered accountants and registered auditors offering accountancy services primarily to those within the not-for-profit and co-operative sector. They were first certified with the Fair Tax Mark in 2022.

Wider discussion

Paying fair tax can also demonstrate positive social impact. For example, fair tax provides communities and societies with the resources needed to fund public services. Social enterprises should be at the forefront of how this can be achieved, Shapuri said.

“Social enterprises have a key in facilitating and promoting a wider discussion around fair tax policies. The Fair Tax Mark is the ideal way to start these.”