IoD welcomes intent to improve system of business rates
Responding to the publication of the Business Rates Interim Report by HM Treasury, Liz Barclay, IoD Special Adviser for Small Business and Entrepreneurship, said:
“This is a welcome indication that the Chancellor is very serious in her ambition to help our vital small businesses. Cliff edges impede growth as business leaders hold back from expanding so as to avoid the additional costs involved. This should go some way to increasing confidence in small firms with growth ambitions and contribute to crucial job creation.”
Anna Leach, Chief Economist at the Institute of Directors, added:
“We welcome this report which helpfully brings together the views of multiple parties on how to improve business rates. It is right for the government to look at this area of the tax system as part of the overall ecosystem for investment in the UK. Some of the issues raised resonate with other challenges in the tax system. For example, lengthy and unpredictable appeal periods and processes are a general issue affecting taxpayers. We look forward to working with the government in developing a tax system that effectively incentivises investment and rewards ambition.”
