Why organisations should follow Leeds Building Society and apply for a Fair Tax Mark: Andrea Harrison
I began my professional career at KPMG where I trained as a Chartered Accountant. Since then, I have worked for Bradford and Bingley, UK Asset Resolution and Coventry Building Society in many different finance roles and had the privilege of leading a number of important projects and transformations.
I joined Leeds Building Society in December 2023. I was attracted by the organisation’s purpose to put homeownership within reach of more people, generation after generation, and its commitment to do the right thing by its members.
Since I started my career, the role of the finance team has changed immensely – from historically being seen as a ‘scorekeeper’ and reporting on past performance, to becoming a team which is forward-looking, has a seat at the table in key decisions and one that can add huge value to the business.
While finance remains the hub for our tax discussions, stakeholders from across the business are becoming increasingly aware of tax-related considerations relevant to their own roles, and my team is responsible for ensuring we get to the right outcomes as a business.
At Leeds Building Society, we strive to be responsible in everything we do, whether that’s in supporting our members, communities, colleagues or the environment.
Our responsible business strategy guides our decisions in our ambition to put homeownership in reach of more people, and we are proud to have been accredited with the Good Business Charter, which recognises and champions responsible business behaviour.
We also became the first national high street financial institution to receive the Fair Tax Mark in December 2018 and we have recently been reaccredited for the seventh consecutive year – a testament to the hard work and procedures put in place by our teams across the Society.
To be recognised for continuing to do the right thing when it comes to tax transparency and paying our fair share of tax is important to us and the accreditation is recognition that we continue to champion a level playing field for businesses.
Businesses must play their part in contributing to a fairer economy for all. Tax transparency is a clear reflection on how businesses conduct themselves.
Applying for the Fair Tax Mark or the Good Business Charter sends an important signal to customers, employees and suppliers that your organisation is committed to responsible business practices, is paying its fair share of tax and can be trusted.
You’ll also get valuable advice from the Fair Tax Mark on how to further improve the transparency and clarity of your reporting around tax. Paying Fair Tax is one component of the Good Business Charter, and if you accredit with the Charter, you will be going further in embedding and communicating wider responsible business practices.
Organisations must continue to be transparent with regulators, suppliers and customers.
The recent Corporate Governance Reform was focused on strengthening risk management across businesses, and our internal controls show that the bar continues to be raised.
In relation to tax, this means continuing to make sure tax is considered in all decisions, and by all functions across the organisation, not just within the finance team.
Andrea Harrison is Director of Finance Operations at Leeds Building Society