There is a lot of comment on the television programme The Town That Took on the Taxman, and rightly so. Many will now be asking what they might do. On thing that is possible is to sign the Fair Tax Pledge
The Fair Tax Pledge is a new idea from the Fair Tax Mark, of which I’m a director.
The Fair Tax Mark is aimed at those businesses that are run as limited companies but we’ve always known that there are small, unincorporated businesses and many individuals who have wanted to say that they too believe in paying the right amount of tax, in the right place, at the rate rate and at the right time but had no way of doing so. The Fair Tax Pledge puts that right.
The Fair Tax Pledge is open to anyone. It asks that you commit to:
- Declaring all your income and that of any companies or other organisations you’re associated with openly, honestly and on a timely basis;
- Not use tax havens to reduce any tax that you owe;
- Not use marketed or abusive tax avoidance arrangements;
- Not enter into any tax arrangement contrary to the spirit of the law;
- Advise your accountant, if you have one, that you do not want them to do anything contrary to the commitments you have made.
And that’s it.
We don’t check what you say: it is a commitment, after all. And anyway, there is no practical way we could check: just as HMRC expect you to be honest when submitting your tax return we expect you to be honest when making this declaration.
In exchange for signing we’ll send you images to display, in your business, at work or wherever you wish including on your web site or Facebook.
And that’s the key point. Apart from the potential impact on those with an accountant the Fair Tax Pledge is about saying to the world that you want to do the right thing, knowing that others think the same way.
But you can ask for your name not to be published too, if you want. We know some people will want that.
If you can sign the Fair Tax Pledge please do. It makes a statement that is needed.