Royal Yachting Association secures Fair Tax Mark for the first time

The Royal Yachting Association (RYA) has secured its first Fair Tax Mark accreditation, the gold standard of responsible tax conduct.

Launched in 2014, the Fair Tax Foundation was developed by a team of tax justice, corporate responsibility and ethical consumerism experts. Its Fair Tax Mark accreditation scheme is the gold standard of responsible tax conduct, bridging the gap between corporate responsibility and the wider tax justice movement.

“We are delighted that the Royal Yachting Association has achieved Fair Tax Mark accreditation. As part of the assessment process, RYA has supplemented its most recent Annual Report and Accounts with a Fair Tax Mark Statement. This Statement details a new tax policy, which commits them to shun tax avoidance, and also discloses a numerical current tax reconciliation and detailed supporting narrative. It’s great to see such a prestigious organisation leading by example in their tax conduct,” said Greg Yates, Senior Accreditation Manager.

Dave Strain, Finance Director at the Royal Yachting Association, commented: “As a signatory to the UN Global Compact the RYA has pledged to operate with integrity, ensuring we remain transparent and honest, and seeking accreditation that shows we pay the right amount of corporation tax, at the right time and in the right place is part of that commitment.

“The accreditation process was relatively straight forward and easy to understand. The conversations we had with the Fair Tax Foundation were open and clear and the whole project was really informative and enjoyable.

“I hope our members and other stakeholders see this as a positive step. Our members are increasingly keen to know that we act as a good corporate citizen and I think that illustrating our tax position is a really great way to demonstrate another way that we make a contribution to society as a whole,” Dave concluded.

The Fair Tax Mark accreditation scheme seeks to encourage and recognise businesses that pay the right amount of corporate income tax at the right time and in the right place.

Businesses carrying the Fair Tax Mark include brands such as Timpson, Lush, and Richer Sounds, FTSE listed companies including SSE and Marshalls Plc., as well as co-operatives, family businesses and social enterprises.

Find out how your business can get accredited.

You can read the full statement of Fair Tax compliance.