While the UK tax system is tolerably competitive against other developed economies, its position is not improving much. Significant changes will be needed if we are to pull ahead of the pack.
This paper is the third edition of the IoD’s annual survey of the competitiveness of the UK’s tax regime.
The paper sets out how there has been some progress on corporation tax, but much more still needs to be done. Personal tax burdens are also still on the high side. The Government has recognised business’s need for certainty in international taxation, but the policy-making process still needs to be improved.
There is also concern about the ability of tax authorities to go on providing an appropriate level of service to taxpayers. A chapter contributed by BDO LLP outlines ways in which the tax position of medium-sized companies could be improved.
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