New tax making the UK a harder place to do business

City AM looks at how much more complicated the UK tax system has become since the financial crisis. New research from UHY Hacker Young shows that since 2008/9 a total of eight new major new taxes have been levied, including the sugar tax, the diverted profits tax, the bank surcharge and the apprenticeship levy. It’s not just the costs of the taxes but the complexity of the system that should cause concern, the paper says. Darren Grimes of UHY Hacker Young explains: “Every new tax [following] the credit crunch sounds superficially attractive with admirable ends, but every new tax makes the UK a harder place to do business and helps put off inward investment.”

City AM, Page: 2