SSE continues to lead the way
We’re delighted to announce that SSE plc, the UK’s second largest energy supplier, has been awarded the Fair Tax Mark for a second successive year.
The FTSE100 firm remains our biggest partner, and continues to set a great example for large business; both in terms of its responsible approach to tax practice and its leadership in speaking out on the need for improved tax transparency in the UK.
In its 2015 accounts, its published tax policy and additional reporting, SSE goes well above and beyond the current legal and accounting requirements for tax disclosure.
In doing so, the company makes clear its policy is to pay the right amount of tax at the right time in the right place – as well as providing the figures and narrative explanation that demonstrates to all concerned that it honours that commitment.
This approach, which includes producing separate figures for the two countries they pay tax in, and explaining how those figures are arrived at, sets SSE apart from other FTSE100 companies that do not, as yet, voluntarily disclose their profits and tax in every single country where they operate.
SSE’s choice to allow itself to be held publicly accountable on tax – has rightly won the company plaudits both at home and abroad.
Furthermore, the business has also done great work to persuade others of the benefits of following their lead.
Chief Executive, Alistair Phillips-Davies says “We’re delighted to have received accreditation again from the Fair Tax Mark because it palpably demonstrates that we’re paying our fair share here in the UK.
“We know there’s deep anger from the public towards companies that don’t take a responsible approach to paying taxes. Frankly, one year on I’m surprised and disappointed more FTSE 100 companies have not looked to join us in gaining this mark and going further on tax transparency.
“Tax should not be seen as a penalty on profit. Paying the right amount of tax, in the right country, at the right time and in the right way is how businesses contribute back to the society that enables them to be successful in the first place.”
As public outrage about how some companies handle their tax affairs continues to flare up – with big names such as Facebook and Starbucks suffering serious reputational damage, SSE’s commitment to Fair Tax helps the way to a better understanding of the contribution big business can make to the society we live in.