MPs and businesses disagree on which tax reforms damage business confidence

MPs and business owners fundamentally disagree on which taxes should be reformed to boost growth according to Price Bailey. Their research which was conducted by YouGov suggests that business leaders are less concerned about day-to-day trading taxes than they are with one-off taxes. It seems that the primary concern of business leaders is taxes on business sales such as CGT and Business Asset Disposal Relief whereas MPs are overwhelmingly concerned about business property taxes.

When 101 MPs and more than 700 business owners and board level executives were asked to choose up to three taxes for reform business leaders prioritised business sales taxes followed by employment taxes (NICs) and corporation tax. The principal concern of MPs was business rates followed by taxes on business sales then profit distribution taxes (taxes on dividends).

Chand Chudasama Partner at Price Bailey commented:...