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The tax sector’s controversial new assurance standard is aiming to raise capital through the issue of shares.
Investors are being invited to put a minimum of £200 into the Fair Tax Mark (FTM), which is designed to encourage transparency by firms that pay corporation tax.
The FTM is registered with the Financial Services Authority as an industrial and provident society (IPS), categorising the standard is a not-for-profit organisation operating a business for the benefit of the community.
The tax sector’s controversial new assurance standard is aiming to raise capital through the issue of shares.
Investors are being invited to put a minimum of £200 into the Fair Tax Mark (FTM), which is designed to encourage transparency by firms that pay corporation tax.
The FTM is registered with the Financial Services Authority as an industrial and provident society (IPS), categorising the standard is a not-for-profit organisation operating a business for the benefit of the community.
Shares are being offered at £1 each, with a minimum purchase of 200, a 20,000 maximum, and an initial interest rate of 5%.
The FTM was unveiled last summer by tax campaigner Richard Murphy. It was relaunched in February in a heavily retooled format that has divided opinion within the tax profession.
Few leading commentators have given outright backing to the voluntary standard, which has been called “something worth debating” and “a step in the right direction”, but also “ill-conceived” and “a propaganda campaign”.
Capital from investor members has been earmarked for spending on marketing and developing the FTM in its start-up phase.
Richard Murphy announced the investment opportunity online, seeking to “make clear that I may financially benefit from the Fair Tax Mark one day, although I do not at present”.
