We asked UK businesses for their views on what the Chancellor should focus on in his Spring Budget 2017 speech to help prepare the UK for Brexit. 365 companies shared their opinions in our recent poll and here are the results:
Investment in connected infrastructure is about getting from A to B, whether physically or digitally, in the most efficient way possible. This could go some way to address the UK’s productivity issue.
There’s real appetite for making tax digital if the tax rules are simplified, however business cannot afford for this to add to the heavy administrative burden they are already facing.
With 50% of respondents saying ‘do nothing’, it’s clear that businesses aren’t yet worried about the impact of inflation. They just want the Chancellor to keep things simple.
Equalising the position of online and traditional retailers, and addressing gig economy employment tax disparities, are the priorities for the majority of business leaders. It’s all about creating fairness in the system.
There’s huge growth potential for UK businesses looking to export, with two thirds wanting direct action from the Government post-Brexit to help with the up-front costs.
During a period of unprecedented change, the way we do business is rapidly transforming, creating both uncertainty and opportunities. UK businesses believe the complexity of current tax legislation is creating a barrier for growth and so it will be interesting to see whether the Chancellor makes any moves towards simplification or any other changes to support UK business as we move towards Brexit negotiations.
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