Tax isn’t taxing for United Utilities
United Utilities has retained its Fair Tax mark status for the third year on the trot.
The Fair Tax Mark is an independent certification scheme, which recognises organisations that demonstrate they are paying the right amount of corporation tax at the right time and is the only scheme of its kind in the UK.
United Utilities was the first water company in the FTSE 100 to secure the accreditation when it achieved it in 2019.
As well as reporting through its annual report, the North West’s water company also publishes a detailed dedicated tax report on its website which breaks down how much tax is paid, how it ensures it pays the right amount at the right time and how it’s transparent about its tax affairs.
The company also has a formal set of tax policies and objectives that are approved by its board of directors on an annual basis.
John Hardy, Head of Tax at United Utilities, said: “We’re delighted to have secured the Fair Tax mark again this year. Achieving this accreditation highlights the importance we put, as an organisation, on being transparent with our tax affairs.
“We’re proud to pay our fair share of tax and this year have contributed around £260m to public finances through corporation tax, business rates, employment taxes and other environmental and regulatory charges.”
For United Utilities’ 2021 tax report, please visit: https://www.unitedutilities.com/globalassets/documents/pdf/united-utilities-tax-report-2021.pdf