Richer Sounds takes pride in tax transparency record

Richer Sounds store

The Fair Tax Mark is pleased to announce that Richer Sounds has been recertified as a Fair Tax Mark business for a third successive year.

The Fair Tax Mark scheme accredits businesses and organisations across the UK committed to paying the right amount of corporation tax at the right time and in the right place. Organisations achieving the Fair Tax Mark demonstrate an exemplar approach to tax transparency and a commitment to shunning tax avoidance schemes.

Richer Sounds storeJulie Abraham, CEO, Richer Sounds, said: “Everyone at Richer Sounds is really proud that we’ve earned the Fair Tax Mark accreditation for the third year in a row. It’s so important to us that we give back to society, as a whole, in addition to looking after our colleagues, because our workforce is educated, protected, kept healthy and safe by the people and services that are funded by our taxes. We are absolutely committed to paying our share and feel strongly that any business that earns revenue in the UK has a moral obligation to make a fair contribution to the running of this country.”

Paul Monaghan, Chief Executive, Fair Tax Mark, said: “It is estimated that £400bn of global corporate profits are shifted annually to tax havens, with corporate tax revenue losses in the UK of approximately £7bn per annum. That should be of huge concern to us all.

“All too often Corporation Tax is presented as a burden, but it shouldn’t be. Not when considered against the huge array of public services it helps fund – from education, health and social care, to flood defence, roads, policing and defence. It also plays a crucial role in holding the whole tax system together – helping to counter financial inequalities and rebalance distorted economies. Which is why it’s so important that more businesses step forward and say what they pay with pride.”

Richer Sounds is part of a growing movement of businesses that are demonstrating their commitment to tax transparency. Other Fair Tax Mark accredited businesses include Lush, Pennon Group, Leeds Building Society, Timpson Group, SSE and the Co-op. Their commitment to tax transparency helps consumers understand more about their tax practises and make informed spending decisions.