TaxAdministrationTax regime not helpful to business, report finds

Tax regime not helpful to business, report finds

PwC survey finds two thirds of business owners feel unsupported by UK tax system

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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