Alliance Boots chief takes swipe at UK tax regime
Stefano Pessina says that tax atmosphere is not consistent with what the government is trying to do
Stefano Pessina says that tax atmosphere is not consistent with what the government is trying to do
THE EXECUTIVE chairman of Alliance Boots has launched an attack against the UK tax environment, warning that it is in danger of driving away big business.
In last month’s Budget, the government cut the rate of corporation tax and cut the top rate of income tax. However, Stefano Pessina told the Financial Times that if the business climate in the UK did not change companies would consider moving elsewhere.
“The atmosphere of the country should be consistent with what the government is trying to do, and the general atmosphere of the country is really more and more against business,” Pessina told the FT.
Pessina added that Alliance Boots, which has been resident in Switzerland since 2007, was resident in the UK it would pay “more or less the same amount of taxes”.
In contrast to the business-friendly tax changes announced in the Budget, the government has pledged to get tough on tax avoidance.
Last Month, HM Revenue & Customs notably stopped Barclays from using two “aggressive” tax avoidance schemes.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceWith proposals for an Amazon tax on the table, how can the UK tax system catch up with the implications of the Fourth Industrial Revolution? Read More...
View articleGlobal corporations are under increasing scrutiny over how much corporation tax they pay. So who are the latest big names hitting the headlines over t...
View articleThe EU is deeply divided over how to increase the tax take from tech giants such as Google, Apple and Amazon, who have recently come under fire for be...
View articleTo avoid falling foul of HMRC's tax crackdown, small businesses now have to be much more vigilant when it comes to tax matters, and it's an ideal oppo...
View articleLaw firm warns that HMRC focus on entrepreneur’s relief could prompt increase in avoidance scheme usage Read More...
View articleDiverted profits tax revenue collected by HMRC in 2016-17 totalled £281m, leaping from £31m collected in the previous year, according to data released...
View articleBillions of pounds of infrastructure investment planned; but tax tinkering still looms following Philip Hammond's first Autumn Statement Read More...
View articleAs advisers prepare for another Autumn Statement, they and their clients hope to avoid the grip of more red tape Read More...
View article