First housebuilder to gain Fair Tax Mark
MJ Gleeson has become the first housebuilder to be accredited with the Fair Tax Mark, a certification scheme for businesses judged to be paying taxes responsibly.
The housebuilder said it met the scheme’s “tough criteria [which] demonstrates its commitment to responsible tax conduct and transparency”.
As part of the accreditation process, Gleeson said it “revised” its “tax strategy… which now explicitly shuns both tax haven abuse and tax avoidance”.
The firm’s annual report and accounts now provides extra detail on tax relief usage, and this will be expanded on further next year, the housebuilder added.
The accreditation was awarded by Fair Tax Mark Limited, a not-for-profit community benefit society set up in 2014, which scrutinises companies for tax transparency, rate, disclosure and avoidance. It is backed by organisations including the Joseph Rowntree Charitable Trust and the Network for Social Change.
Other construction firms accredited with the Fair Tax Mark include product manufacturer Marshalls and contractor Munnelly.
Paul Monaghan, chief executive of Fair Tax Mark, said: “We are delighted to certify Gleeson as the first housebuilder in the UK to achieve the Fair Tax Mark. They have been robust and consistent payers of corporation tax for a number of years, with any deviations from the headline rate largely accounted for, rightly, by tax reliefs connected to the remediation of contaminated land. It’s great to see Gleeson ‘say what they pay with pride’, and for this to sit alongside commitments to the real Living Wage and sustainable construction.”
Stefan Allanson, CFO for MJ Gleeson, said: “Profitable companies should pay their fair share of tax and be honest and transparent in their disclosure; it says a lot about their values, integrity and ability to trade in a sustainable way. Gleeson does, and we’re proud to be the first housebuilder to achieve the Fair Tax Mark.”