Why we’re proud to receive the Fair Tax Mark

04th November 2021

Written by Marie Pearse, Head of Tax at Pennon. 

Transparency and societal contribution are key to operating as a responsible business. As a top FTSE 250 UK-focussed company, we take this responsibility seriously and a big part of this is ensuring we pay the right amount of tax, in the right way, at the right time.

It is the taxes paid by businesses and individuals which help fund vital public services, investment in skills, development and infrastructure to support future growth, which ultimately benefits us all. Today, we’re pleased to announce that Pennon has received its reaccreditation as a Fair Tax organisation for the fourth year running, achieving our best score to date. It comes after we were the first water and waste business to be awarded the Fair Tax Mark in 2018. As of today, there are just 70 businesses across the country with this accreditation and only 3 are in the FTSE 250 who have this independent certification.

The Fair Tax Mark is awarded by the Fair Tax Foundation, providing accreditation to businesses paying their fair share of corporation tax and reporting on their tax practices transparently. Achieving the Mark demonstrates that we are paying the right amount of corporation tax at the right time.

We’re proud to be taking the lead in this area and hope to inspire other companies to apply for the accreditation, improving the tax transparency not only of the sector in which we operate, but also of organisations across the UK.

It’s this transparent approach which will inspire trust from our customers, our colleagues and stakeholders.

Pennon’s total tax contribution in 2020/21 was over £80m and we are proud to get recognition that we are doing this in the right way.

As a business, we have also not used any of the Covid-19 support mechanisms offered by the Government and have continued to pay our taxes in full and on time throughout the pandemic as well as increasing support for our most vulnerable customers.

Transparency remains a critical component of our approach, recognising that openness will help us demonstrate how we are being efficient and effective in achieving the best result for our customers, communities and shareholders.

More information on our commitment to tax transparency is available here.