The UK Government recently announced its intention to create up to 10 ‘freeports’ across the country. These are essentially special economic zones, and characteristically offer looser customs rules with the aim of attracting investment, but are also known to provide resident businesses with a wider set of preferential treatments including tax reliefs. Freeports are an issue we are concerned about due to the likelihood that they will exacerbate tax avoidance and evasion in the UK, encourage a global race to the bottom on corporation tax, create unfair advantages to a select group of businesses, and, attract illicit actors, such as…

The UK Government, like many across the world, is making available unprecedented financial support for businesses and workers impacted by the Covid-19 economic lockdown. This is right and proper given the economic lockdown is being undertaken to lessen the impact of Covid-19 on society; in particular, in protection of the elderly and those with existing health conditions. The package of support includes: a Coronavirus Job Retention Scheme deferring VAT and Self-Assessment payments a Self-employment Income Support Scheme a Statutory Sick Pay relief package for small and medium sized businesses (SMEs) a 12-month business rates holiday for all retail, hospitality, leisure…

The Royal Borough of Greenwich has become the first in London to commit to our Councils for Fair Tax Declaration, joining Oxford, Oldham, Peterborough, Cannock Chase and Bingley as the sixth council to stand up for responsible tax conduct. It’s been heartening to see the breadth of support for this campaign. Councillors, whatever their political allegiance, work hard to direct the delivery of local public services and most will balk at seeing the public finances on which Councils rely undermined by dodgy and opaque tax practices. Cllr Christine Grice, Greenwich’s Cabinet Member for Finance and Resources said: “As a cabinet…

The following interview with our Chief Executive, Paul Monaghan, was recently published by CSR Europe – who will launch a Blueprint on Tax Transparency and Responsibility in March 2019. It explores the emerging trends around responsible tax conduct, and it is reproduced here with their kind permission.   What are the best enablers to get more companies to become responsible tax payers? At the Fair Tax Mark we are finding that different types of corporation have different key motivators. Investors are increasingly pressing listed companies to explain their management of tax risk, and so we are seeing a big increase in transparency…

The UK’s first ever Fair Tax Fortnight (June 9-24) set out to celebrate those companies and organisations that are proud to pay their fair share of corporation tax, and to explore the positive contribution this makes to society. I’m delighted to say that it did this and then some. As you might expect, Fair Tax Mark certified organisations where at the forefront of events. Dozens of business (big and small) gathered at the opening conference on June 7th; which was kindly sponsored by SSE plc, with key contributions from the Co-op, Marshalls, Combat Pest Control and Ethical Consumer. Elsewhere, Fair Tax…