SSE commended for being ‘transparent on tax’

SSE has been awarded with the Fair Tax Mark for its commitment to tax transparency and responsible tax policies and is calling on other businesses to follow suit.

The big six supplier has received the award for the third year in a row, and is the only FTSE100 company to meet the standard.

The independent Fair Tax Mark body said that SSE was “one of the most transparent companies in the UK when it comes to tax”, in recognition of its responsible tax policies and detailed disclosure of its tax affairs.

This year SSE published its first Talk Tax booklet outlining the firm’s £867.3 million total tax contribution in the UK and €53.8 million in Ireland, as well as breaking it down by type of tax paid. 

Fair Tax Mark director Emily Kenway said: “SSE has led the charge in demonstrating its transparency on tax and this year increased it further with more enhanced and detailed reporting.  It’s fair to say it’s one of the most transparent companies in the UK when it comes to tax.

“It should be applauded for its willingness to be open, direct and clear about the taxes it pays and the contribution it makes in the countries it operates in.”

The supplier claims that corporation tax avoidance costs the UK economy more than £5 billion per year.

SSE finance director Gregor Alexander said: “At SSE we’ll continue to build on the transparent reporting of our tax affairs and would hope other businesses would join us in raising the standards. After all, it is in all our interests that the UK has a healthy tax base from which to support the public services we all rely on.”

Chair of the public accounts committee Meg Hillier MP said that the public will “no longer accept secret, complex tax arrangements by companies” and that SSE is “setting the bar” for other companies to support fair tax.