TaxCorporate TaxUK businesses concerned over constant tax change

UK businesses concerned over constant tax change

E&Y's survey finds tax changes the biggest thorn in UK business' side

NEARLY HALF of businesses are concerned that ongoing changes are the biggest UK tax problem.

Ernst & Young’s survey of UK businesses found 45% flagged up ongoing changes to the tax system as their biggest tax concern. A quarter (26%) said the top rate of income tax was an issue, while 9% are worried about the mainstream corporate tax rate.

On a scale of one to five, only 15% of respondents gave a score of four in terms of confidence that the Office of Tax Simplification was focused on the right priorities, while 41% of respondents rated only one or two.

The main area highlighted for improvement was a reduction in PAYE/NIC costs, plus an increase in capital allowances.

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