Taxing regulation

A CBI survey found that some of the major British companies have moved abroad and more companies are considering the move to escape high corporate taxes. Businesses are discontent with the complexity of tax rules, aggressive attitudes of tax collection and high compliance cost.

The tax system has become increasingly complex since Gordon Brown took office and the CBI survey is another confirmation of this. His regulations have compromised efficiency and risked competitivness. Instead of getting on with their business, companies have to spend valuable time on following the thousands of pages of rules and regulations. The Treasury must see that discontent leaving businesses will leave its coffers with less and less money. The Government needs to consider simplifying the system in order to prevent more and more top companies leaving the UK for other countries.