More than a quarter of firms are looking at relocating overseas to escape
what they consider Britain’s excessive tax laws, research by the
According to a Tenon survey of more than 1,000 SMEs, 26% are considering a
move within the next three years, while one in 20 have already made firm plans
to relocate abroad.
Corporation tax was the area of legislation most highly disliked by
entrepreneurs, 37% of those considering leaving Britain citing corporation tax
as the main reason.
Capital gains tax and the abolition of taper relief was the key motivation
for 16% of respondents, while almost half (43%) of those running family
businesses expect tax bills to increase as a result of income shifting
legislation, to be introduced in 2009, 9% claiming they will have to stop
employing family members and 4% believing they will have to close their business
because of its impact.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year