CRUNCHERS SOUTH LONDON, a licensee of Crunchers Accountants, has become the first accounting service in the UK to receive the Fair Tax Mark award for reporting and paying fair corporation tax.
The Fair Tax Mark, established in 2014, is an independent accreditation process that assesses companies’ corporation tax practices and reporting. It was launched in response to criticism over the amount of UK corporation tax paid by companies such as Google and Starbucks.
The Fair Tax Mark provides a reliable method for companies to demonstrate that they are not guilty of tax avoidance and are handling their taxes correctly and morally.
Emily Kenway, director of the Fair Tax Mark said: “Crunchers South London is leading by taking this bold step and its clients will be proud to work with the practice. Winning the Mark means the firm has committed to not abusing tax havens or tax avoidance schemes and achieving tax transparency. We hope many more accountancy practices follow.”
Crunchers joins FTSE listed companies such as SSE and Go-Ahead Group in a growing list of companies taking a stand against aggressive tax avoidance. The Fair Tax mark sets the criteria subject to business types, whether solely trading in the UK or UK-owned multinational businesses. Businesses joining the Fair Tax Mark are setting the standard for others to prove themselves in comparison to large well-known companies.
Damion Viney, Crunchers South London’s director, said: “We serve small businesses around South London and the Fair Tax Mark is good news for these businesses. Local cafes are at a disadvantage being in direct competition with multi-national brands that have access to aggressive tax avoidance. People understand that paying a fair share of tax is part of contributing to society. We hope that other small businesses will follow suit for a sustainable economy.”
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