Severn Trent has been accredited for its responsible tax practices for a fourth consecutive year with the receipt of a Fair Tax Mark.

Issued by the independent not-for-profit social enterprise, the Fair Tax Foundation, the Fair Tax Mark is a demonstration of businesses’ good tax practices, that holders pay the right amount of tax, in the right place, at the right time and importantly apply the ‘gold standard’ of tax transparency.

Retaining the Fair Tax Mark for a fourth year underscores Severn Trent’s reputation for managing its tax affairs in a responsible manner and recognising the interests of all its stakeholders.

James Bowling, Chief Financial Officer at Severn Trent, said: “This accreditation, achieved for the fourth year running, speaks to the quality and diligence of our team and desire as a company to do the right thing. We believe that tax transparency is crucial to building a sense of trust with shareholders, customers and staff, and we strongly support the work of the Fair Tax Foundation in this important area.”

Accredited businesses include brands Timpson, Lush, and Richer Sounds, FTSE listed companies including SSE and Marshalls Plc., alongside co-operatives, family businesses and social enterprises.  

Greg Yates, Senior Accreditation Manager, Fair Tax Foundation, said: “It is a great pleasure to announce that Severn Trent has gained the Fair Tax Mark for the fourth year running. Their supplementary ‘Explaining our tax contribution’ report goes above and beyond when it comes to tax disclosures.”