Tax accreditation a demonstration of highest level of tax transparency
Winder Power Group, a leading UK manufacturer of power and distribution transformers and generator equipment, has this week successfully achieved the Fair Tax Mark, an accolade bestowed upon companies that achieve the highest levels of tax transparency. The accreditation, which is an independent endorsement, was launched in 2014 to help consumers identify organisations that pay their fair share of corporation tax and are transparent on tax.
As part of the Fair Tax Mark, Winder Power, which recently announced a major expansion plan, involving the recruitment of 20 new employees, has formulated and published a tax policy, making honesty, transparency and responsibility in tax an integral part of their business process. Alongside this, Winder Power has pledged not to engage in tax havens and aggressive tax avoidance schemes.
The Fair Tax Mark offers businesses the opportunity to proudly display, to their customers their credentials as responsible taxpayers.
Speaking about the recent accreditation, Laurence MacKenzie, Group Chief Executive, Winder Power, said, “We at Winder Power firmly believe that we have a responsibility to contribute to the society in which we operate. Paying the appropriate amount of tax is core to this; and we are determined to abide by both the spirit and letter of the UK’s tax regulations. Being involved in and contributing to local communities is a fundamental part of being a successful business, and for a company like Winder Power, that has operated in Leeds for over 100 years, employing over 100 people, we believe that paying our taxes in this way is one of the clearest indications we can give of our role and commitment as responsible participants in society.”
Welcoming the move by Winder Power, Meesha Nehru, Programme Director of the Fair Tax Mark, commented, “We’re delighted to have worked with Winder Power on the award of their Fair Tax Mark. Winder Power is a business that not only pays its fair share of tax year on year, but also that has been willing to go the extra mile to make itself fully transparent and accountable to the UK public through independent accreditation.”
She continued, “At a time when big businesses are still routinely failing to pay the taxes they really owe, it’s refreshing to see Winder Power’s board commit to not use tax havens or tax avoidance arrangements, to have good relationships with HM Revenue & Customs and to follow the spirit not just the letter of the law when it comes to tax. Their award is well-deserved and its great news that they are joining the growing number of businesses standing up for Fair Tax in the UK.”