BusinessCompany NewsGovernment box-ticking costs businesses £80bn a year

Government box-ticking costs businesses £80bn a year

Companies spend an estimated 73 hours a month – or five and a half months a year – on regulation and administration required by the governement

Business representatives have said government compliance is costing companies
£80bn a year.

The Institute of Directors warned businesses are finding themselves under a
sizeable burden of regulation and administration.

Businesses spend an estimated 73 hours a month – or five and a half months a
year on the paperwork, the IoD told
the
Daily Telegraph
.

Miles Templeman, director-general at the IoD, told the publicartion: “This
£80bn is effectively being taken out of the UK economy each year due to
regulatory paperwork.”

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor