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SSE’s tax contribution 2015/16 Country by country reporting


A core requirement of the criteria set by the Fair Tax Mark is to demonstrate the scale of commercial activity in each of the countries a company operates in. This means stakeholders can clearly see the taxes paid and the context for those payments. SSE’s 2015/16 country by country report is outlined below:


Country


Tax paid (£m)


UK Ireland


Total as per accounts


453.9 11.1


465.0


Revenue (£m)


28,035.4 745.9


28,781.3


Reported profit before tax (£m)


546.5 46.8 593.3


Reported current tax (£m)


109.5 5.6


115.1


Number of employees at 31 March 2016


20,384 734


21,118


Gross employee pay (£m)


890.0 26.2 916.2


Net assets (£m)


4,482.2 734.8 5,217.0


SSE is primarily a UK energy company. As part of an expansion into the Irish energy sector, SSE acquired Airtricity, a renewable energy developer registered in Ireland, in 2008. At that time Airtricity had a relatively small pipeline of early stage wind farm development projects in Portugal, the Netherlands, Germany, Sweden and Italy. SSE’s strategy is focused on the core energy markets in the UK and Ireland, therefore it undertook a programme of disposals to exit from all other European markets. Therefore, all such projects have now been sold, with only two dormant holding companies remaining in Germany and the Netherlands.


SSE also has a captive insurance company which is registered in the Isle of Man. That company is treated as a “controlled foreign company” for UK tax purposes as it is wholly owned by SSE, which is a UK entity; therefore UK corporation tax is paid on its profits by SSE.


You can see SSE’s full account notes on pages 141 to 143 of the Annual Report 2016.


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