Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Businesses expect taxes to rise after general election

by November 6, 2023
November 6, 2023
Businesses expect taxes to rise after general election

More businesses expect taxes to rise rather than fall after the next general election, according to research from accountancy and business advisory firm BDO.

BDO surveyed more than 500 businesses ahead of the upcoming Autumn Statement and found that more than quarters of businesses expect to pay the same or higher taxes after the next general election.

The mood seems to have shifted from earlier this year when a similar BDO survey in July found that 61 per cent of businesses thought that the UK’s business tax environment would improve after a general election.

“There appears to be a growing — some might say grudging — acceptance among businesses that the current high levels of business taxation may be here to stay and could even rise post the general election,” said Jonathan Hickman, tax partner at BDO.

With tax cuts unlikely to be on the agenda at the Autumn Statement, survey respondents said that investment in HMRC service levels should be the chancellor’s top priority.

This came ahead of calls for simplifying tax rules and cutting government spending, according to the BDO survey.

When asked what tax changes the chancellor should introduce once economic conditions improve, the most popular call was for new green tax breaks. This came ahead of demands to cut the headline rate of corporation tax, to make the 100 per cent first year capital allowance permanent and to cut employers’ national insurance contributions.

Taxes remain at a decades-long high, with Treasury officials keen to make a dent in the UK’s substantial borrowing pile — already high before the pandemic but now sitting at multiples.

Despite the significant uptick in tax as a percentage of GDP, public services continue to decline in terms of performance and efficiency according to recent reports from the Institute for Government.

Read more:
Businesses expect taxes to rise after general election

0
FacebookTwitterGoogle +Pinterest
previous post
Cruz’s new book ‘Unwoke’ shows readers how to ‘defeat cultural Marxism’ invading US
next post
British Steel plans to shut furnaces putting up to 2,000 jobs at risk

You may also like

Windfall tax is likely to be extended

October 28, 2022

Is poor service turning your customers into ‘silent...

July 21, 2023

Konstantin Tserazov: Global Breakthroughs in Fintech Reshaping the...

February 26, 2024

Airbnb ‘reinventing’ itself with £4.8bn share buyback as...

February 14, 2024

Christopher Cane On His Role As a Professional...

February 3, 2023

Drones set to deliver NHS supplies and inspect...

April 21, 2025

Top Ways to Spend an Exciting, Active Day...

September 30, 2022

CEO of London-HQ’d software firm Forterro recognised for...

October 28, 2022

Secrets of Success: Lee Bryan, CEO of Arcus...

July 25, 2024

Mastering RACA: How to Harness Reflection, Action, Connection,...

September 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved