Leeds Building Society’s Harrison: ‘Tax transparency is a clear reflection on how businesses conduct themselves’

Tell us about your professional journey. What first drew you to this field and how did you come to work in your current role?

After studying law at university, I began my professional career at KPMG in the Financial Services Audit team where I trained as a chartered accountant. I loved getting to see how different organisations operate and enjoyed the opportunity for travel that went alongside it. 

Since leaving KPMG I have worked for Bradford and Bingley, UK Asset Resolution and Coventry Building Society in many different finance roles and had the privilege of leading several important projects and large transformations. 

I joined Leeds Building Society in December 2023. I was attracted by the organisation’s purpose to put homeownership within reach of more people, generation after generation, and their commitment to do the right thing by their members. After meeting the CEO, Richard Fearon, and some of the other executives, I knew I was joining a very special organisation and I am immensely proud to work here.

How has the role of the tax or finance team changed in this time, especially in relation to stakeholder expectations around fair tax and corporate transparency?

Since I started my career, the role of the finance team has changed immensely – from historically being seen as a ‘scorekeeper’ and reporting on past performance, to becoming a team that is forward-looking, has a seat at the table in key decisions and one that can add huge value to the business. 

While finance remains the hub for our tax discussions, stakeholders from across the business are becoming increasingly aware of tax-related considerations relevant to their own roles, and my team is responsible for ensuring we get to the right outcomes as a business.

What drives your business to pursue responsible tax conduct and gain the Fair Tax Mark, as well as the Good Business Charter?

We strive to be responsible in everything we do, whether that’s in supporting our members, communities, colleagues or the environment.

Our responsible business strategy guides our decisions in our ambition to put homeownership in reach of more people, and we are proud to have been accredited with the Good Business Charter, which recognises and champions responsible business behaviour.

We also became the first national high street financial institution to receive the Fair Tax Mark in December 2018 and we have recently been reaccredited for the seventh consecutive year – a testament to the hard work and procedures put in place by our teams across the Society.

To be recognised for continuing to do the right thing when it comes to tax transparency and paying our fair share of tax is important to us and the accreditation is recognition that we continue to champion a level playing field for businesses. Businesses must play their part in contributing to a fairer economy for all. Tax transparency is a clear reflection on how businesses conduct themselves.

What would your advice be to other professionals who are thinking of applying for the Fair Tax Mark and the Good Business Charter?

Do it! As well as being the right thing to do, it sends an important signal to customers, employees and suppliers that your organisation is committed to paying its fair share of tax and can be trusted. You’ll also get valuable advice from the Fair Tax Foundation on how to further improve the transparency and clarity of your reporting around tax.

Paying fair tax is one component of the Good Business Charter, and if you accredit with the Charter, you will be going further in embedding and communicating wider responsible business practices.

What are your thoughts on the future of fair tax and corporate transparency?

Organisations must continue to be transparent with regulators, suppliers and customers. The recent Corporate Governance Reform was focused on strengthening risk management across businesses, and our internal controls show that the bar continues to be raised. In relation to tax, this means continuing to make sure tax is considered in all decisions, and by all functions across the organisation, not just within the finance team.

What one sentence or word would your team use to describe you?

I hope they would say I am a supportive leader. I have really high standards and want to continually strive for excellence within the team, but at the same time I do believe I support colleagues to do their best every day. As a trained coach and mentor, I understand the value of emotional intelligence to empower the team, build relationships and transform organisational culture.

You can read this article on Leeds Building Society’s blog here or in the Yorkshire Post (paywall).