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.
Hilary Jones, ethics director, Lush, said: “As a company we feel that we should contribute back to the societies from which we trade by being a good employer, by trading fairly with our suppliers and by paying our taxes into the collective purse.
“We’re proud to have the Fair Tax Mark and to check ourselves against an independent benchmark so we know we’re operating in a fair and transparent way.”
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.
“We’re delighted to have been able to recertify Lush for a fifth year. Their commitment to open and transparent tax reporting is exemplar, particularly as they operate across many different countries. It’s refreshing to see a business that demonstrates its brand values in a meaningful way.
“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.”
Lush is part of a growing movement of businesses that are demonstrating their commitment to tax transparency. Other Fair Tax Mark accredited businesses include Richer Sounds, 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.
Monaghan continued: “Tax 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.
“Too often we read headlines about businesses using loopholes and tax-havens to aggressively avoid contributing what they owe. It’s right that we celebrate those organisations who operate responsibly when it comes to tax.”