Bytemark Hosting is the first cloud hosting and internet company to be awarded the Fair Tax Mark, following full disclosure of its tax accounts and a commitment to full tax transparency
To achieve the Fair Tax Mark, the York-based company has published its full annual accounts (as opposed to abbreviated accounts under current requirements) which include tax calculations. It has also committed not to use offshore finance structures and ‘tax havens’; and also tax schemes that require disclosure, aiming to comply with the intention, not just the letter of tax law.
Matthew Bloch, managing director and co-founder of Bytemark said: ‘Bytemark relies on a national power grid, public roads, educated & healthy staff, courts to collect debts and so on.
‘I’m glad to have driven these commitments from our company – as a result we’ll spend more less time on tax planning and more time on growing our business.’
Launched in February 2014, the Fair Tax Mark is the world's first independent accreditation process which supports companies making a genuine effort to be open and transparent about their tax affairs.
The Fair Tax Mark has successfully awarded the Mark to growing numbers of the UK's most progressive companies. These include Lush Cosmetics; Unity Trust Bank; Midcounties Co-operative and the Phone Co-op ; FTSE 350 member, the Go-Ahead Group; and FTSE 100 company, SSE Group plc.
Bytemark’s commitments and full tax disclosure, are available at https://www.bytemark.co.uk/company/accounts/