You are nearly ready to apply for the Fair Tax Mark.
Before you take this further you need to consider how you will address any of the points that you have previously answered no to.
- Do you make your full accounts (rather than small company exemption or micro accounts) publicly available?
If not, are you willing to do so?
- Is information about who owns the company in the public domain?
- If your company does not already have one, are you willing to produce a tax policy and make it publicly available?
- The Fair Tax Mark will provide support to create it.
If the Fair Tax Mark assessment requires it, are you willing to provide extra narrative and numerical explanations of your tax payments, such as explaining the difference between profits and current tax rate, or explaining what any transfer payments or deferred tax charges relate to?
- If you have operations outside the UK, the Fair Tax Mark requires information about your subsidiaries in other countries.
Are you willing to make information about these entities public?
- The Fair Tax Mark is the gold standard of transparency on tax reporting. As such, it may require you to make disclosures about any parts of your business which have an impact on your tax arrangements.
Are you willing to consider any such recommendations?