TaxAdministrationTax convinces companies to think of moving overseas

Tax convinces companies to think of moving overseas

HMRC research reveals disquiet over tax system

HMRC

A reported commissioned by the taxman has revealed that up to a fifth of big
companies have considered moving their HQs overseas for tax reasons, according
to the
Daily
Telegraph
.

Compiled by specialist public policy researchers TNS-BMRB, the report showed
64% of large businesses believed the past 12 months has seen the tax system
become a greater burden.

The Telegraph reports UHY Hacker Young tax partner Roy Maugham saying that
only a small fraction of the companies moving abroad could “decimate” UK tax
revenues.

The June Budget saw a cut in corporation tax and recent statistics have shown
a sharp increase in corporation tax revenues.

However, recent years have seen consistent criticism in business circles that
the tax system is increasingly making the UK uncompetitive as a place to do
business.

An HMRC spokesman said that the survey showed the majority of businesses were
happy with its service to large customers.

“…We are committed to making it as easy as possible for businesses to do
business in the UK whilst complying with their statutory responsibilities and
ensuring that the UK receives its proper share of tax.

“HMRC is in regular contact with large businesses over a very wide range of
tax issues and if a large business has any queries or concerns they can contact
their customer relationship manager or customer co-ordinator for help and
guidance.”

Read more:

HMRC
holds back stats on Time to Pay

New
amnesties pulls in £91m for taxman

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