Leeds Building Society hailed as 'fair tax champion' by transparency organisation

The Fair Tax Foundation has today confirmed that Leeds Building Society has been reaccredited with the Mark.

Leeds Building Society was the first national high street financial institution to receive the Fair Tax Mark in December 2018 and has received re-accreditation each year since then.

The Foundation operates as a not-for-profit social enterprise and seeks to encourage and recognise businesses that pay the right amount of corporate income tax at the right time and in the right place. They believe that businesses that pay their taxes willingly, fairly and transparently, should be celebrated and rewarded.

They run the ‘Fair Tax Week’, and also the ‘Councils for Fair Tax initiative’

The accreditation scheme was launched in 2014 and seeks to encourage and recognise organisations that pay the right amount of Corporation Tax at the right time and in the right place.

Richard Fearon, Chief Executive at Leeds Building Society, said: “As a mutual we committed to doing what’s right for our members and colleagues and the communities in which we operate.

"Paying our fair share of tax is one of the principal ways we contribute to society, helping to fund the public services we all rely on.

"We were the first national high street financial services provider to receive the Fair Tax Mark and transparency around our tax affairs is very important to us and our members.

"We are therefore delighted that we have received this re-accreditation from the Fair Tax Foundation, and we look forward to continuing to support the work they do.”

Graham Drummond, Head of Communications at the Fair Tax Foundation, said: “Leeds Building Society has long been a champion of fair tax practices, and we’re so pleased they’ve secured the Fair Tax Mark for a milestone fifth year.

"Our recent polling shows that the majority of the UK public want to give their custom to a business which can prove it’s paying its fair share of tax.

"Members of Leeds Building Society, in Yorkshire and beyond, can feel proud that they’re doing exactly that.”

A Leeds Building Society spokesperson said: “Tax is one of the most scrutinised aspects of transparency, regularly being cited as the public’s number one concern about how businesses conduct themselves.

"Paying our fair share of tax was nothing new to us and as a mutual we were founded on the principle of people helping people.

"It’s one of the main ways we contribute to society, and it funds the vital public services our members and colleagues rely on.

"The official accreditation was a great opportunity to demonstrate our commitment to doing things the right way.”