Tax regime not helpful to business, report finds

Two thirds of private business owners do not believe that the UK’s tax regime
supports and encourages enterprise, a PricewaterhouseCoopers study has found.

The Enterprising UK survey found that despite the wide range of tax reliefs
available to them, and measure introduced in this year’s Budget, just 33% of
business owners felt the UK tax system encourages enterprise.

The research also found that 84% of those surveyed felt a more effective
voice within government would help in supporting enterprise in the future.

“Private business is calling for a stable, certain tax environment in which
to conduct their business successfully,” said Mary Monfries, head of UK private
business at PwC.

“Reducing tax rates would be a challenge in the current economic climate, but
a reduction in the rate of change and uncertainty should be easier to deliver.

“Private businesses are not looking for a crutch from government – an
overwhelming majority are taking active steps to help themselves in managing
through the recession. However, they do want a more effective voice.”

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