ICAEW defends its support for Fair Tax Mark

The ICAEW has reiterated its support for a new “fair tax” mark after criticism from some of the institute’s members.

When the new independent accreditation scheme was launched last month, the ICAEW welcomed it as a potential boost for consumer confidence.

The idea behind the intiative is that “a fair tax business seeks to pay the right amount of tax in the right place at the right time and can be held to account on its tax behaviour by the public based on the information it publishes”, Fair Tax said on its web site.

But after criticism from some ICAEW members - who decides what is a “fair” amount of tax to pay was a common question) - the institute gave a fuller explanation for its support for the fair tax mark, which has been developed up by tax campaigners, including Richard Murphy.

The ICAEW said it supported the principle of a fair tax mark...

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.

Comments
stepurhan's picture

Different reservations    1 thanks

stepurhan | | Permalink

ICAEW has reservations about how the scheme operates, but supports it anyway.

ACCA has reservations about how the scheme operates, and will not make a judgement until those reservations have been addressed.

Which is taking the more sensible approach here?

raybackler's picture

CIMA as well

raybackler | | Permalink

Refusing to comment.  As a CIMA member, I want them to consult with Members in Practice first, as well as the main membership.

tempted....

AndyC555 | | Permalink

If I was a small company I might be tempted to get the Mark and then try and get as much publicity as I could out of it.

 

Meanwhile, there are around 2.9m active companies at Companies House.  How many people work at the Fair Tax Mark office?  Anyone know?