BDO Transitions: Tax reform top of business agenda
TAX reforms are needed to help support smaller-listed companies and SMEs lead the economic recovery, according to new research.
The latest Transitions report from accountants and business advisers BDO, ‘Transitions to a New Regulatory Environment’, found taxation is a major cause of concern for UK businesses.
Research contained in the report suggests two thirds of business leaders believe the Coalition Government needs to accelerate business taxation reforms to simplify the system and make it more responsive to the needs of UK businesses
Terry Jones, tax partner at BDO, said: “The Government needs to set out a strategy for growth which supports both large UK multinationals along with a broad base of UK businesses.
“SMEs employ almost two thirds of Britain’s workers and contribute to half of the country’s GDP output so it is vital that their needs are addressed.
“Given the increasing difficulties that mid-tier and SME businesses are facing as a result of rising inflation and the spectre of increasing interest rates, these findings highlight the need for tax reforms to be accelerated to drive growth across all UK businesses.”
The survey was conducted online by YouGovStone among BDO’s UK clients and contacts.
