The Fair Tax Foundation launch £450,000 Community Share Offer
Founded a decade ago to help reverse the global race to the bottom on corporation tax, the Fair Tax Foundation[1] are aiming to level up our impact fivefold with a Community Share Offer unveiled today.
Launching on social investment platform Ethex[2], the Community Share Offer will seek to raise £450,000 to allow the Fair Tax Foundation to embed tax justice not just further in the UK, but increasingly across the world.
The Fair Tax Foundation have enjoyed ten years of steady income growth and seven consecutive years of surplus. Our Fair Tax Mark is now the gold standard of responsible tax conduct, and we are central to a movement of progressive businesses that are proud to pay their taxes and celebrate the enormous contribution this makes to public services. More than 250 distinct trading businesses are now Fair Tax Mark accredited, which together contribute more than £1.7bn in corporation tax annually across the globe.
But we want to do much, much more.
We will use the new investment to
- Create a new sales and business development team, broaden our product offering, expand our back-office and recruit and train new technical staff
- Increase our income from c.£500,000 to c.£2mn per year
- Quintuple our corporate engagement in the UK and overseas, leading to hundreds of Fair Tax Mark accredited companies combining to make a corporation tax contribution in excess of c.£8.5bn per annum
Paul Monaghan, Chief Executive, Fair Tax Foundation, said:
“Despite many hard-won victories and reforms over the past ten years, it is still the case that 35% of multinational profits (£1trn) are artificially shifted to tax havens each year. This doesn’t just rob the public purse of funding for vital services such as transport and healthcare, it also distorts national economies, depresses productivity and undermines the ability of business to compete fairly.
“This share offer is a rare opportunity to buy community shares in, and become a member of, the Fair Tax Foundation – with subscribers becoming shareholders in the Society alongside existing members.
“We believe the more businesses that stand up for responsible tax conduct, the more likely legislators are to create better laws, and the more likely regulators are to implement those laws robustly. By supporting us to scale up our business you will help expand our influence, bolster public coffers and help steer the economy in a more enlightened direction at this critical moment in history.”
The offer opens on 2nd September for a period of three months – targeting an initial annual return of 6%, and UK base rate plus 1% thereafter. There is a minimum investment threshold of £200, and a maximum of £60,000 for individuals and £100,000 for organisations. As with all investments of this nature, capital is at risk and returns are not guaranteed.
Full details of our 2024 Community Share Offer are available at ethex.org.uk/invest/fairtax.
Please note, the purchase of shares is at full risk and if the Society fails it is possible that you will never recover the full value of your shareholding, or could even lose it completely. Don’t invest any money you cannot afford to lose.
[1] The Fair Tax Foundation Limited was established as a not-for-profit social enterprise in 2014, and is registered with the UK’s Financial Conduct Authority as a Community Benefit Society. It’s rules incorporate a statutory “asset lock” to ensure that any retained surpluses are used solely for the promotion of good corporate tax conduct.
[2] Ethex aims to help everyday people make ethical investments that fund extraordinary organisations.” It is a not-for-profit with a mission to ‘make money do good’, and has spent the past ten years creating a vibrant marketplace for positive investment.
