The Upcoming
  • Culture
    • Art
    • Cinema
      • Movie reviews
      • Film festivals
    • Food & Drinks
      • News & Features
      • Restaurant & bar reviews
      • Interviews & Recipes
    • Literature
    • Music
      • Live music
    • Theatre
    • Shows & On demand
  • Fashion & Lifestyle
    • Accessories
    • Beauty
    • News & Features
    • Shopping & Trends
    • Tips & How-tos
    • Fashion weeks
  • What’s On
    • Art exhibitions
    • Theatre shows
  • Tickets
  • Join us
    • Editorial unit
    • Our writers
    • Join the team
    • Join the mailing list
    • Support us
    • Contact us
  • Interviews
  • Competitions
  • Special events
    • Film festivals
      • Berlin
      • Tribeca
      • Sundance London
      • Cannes
      • Locarno
      • Venice
      • London
      • Toronto
    • Fashion weeks
      • London Fashion Week
      • New York Fashion Week
      • Milan Fashion Week
      • Paris Fashion Week
      • Haute Couture
      • London Fashion Week Men’s
  • Facebook

  • Twitter

  • Instagram

  • YouTube

  • RSS

Current affairs

UK found to be the most attractive tax system

UK found to be the most attractive tax system
18 February 2013
Patrick Corby
Avatar
Patrick Corby
18 February 2013

The annual “Senior Tax Decision Poll” by accounting firm Klynveld Peat Marwick Goerdeler (KPMG) has found that the UK has the most attractive tax system in the G20, surpassing liberal tax regimes such as Ireland, Luxemburg and Switzerland.

The survey by KPMG, which interviewed 57 senior tax executives of FTSE 100 and FTSE 250 companies, marks a move from an opinion from 27% to 72% of companies who named Britain as the leading tax regime.

The findings highlight the dramatic 7% cut in the UK tax system over the period from 2008 to 2014, when corporate tax will be set at 21%. Last year the UK was voted fifth in the poll, but this year the UK holds the lowest tax rate in the western world.

In response to the findings, Chancellor George Osborne said: “These companies can choose to invest and create jobs anywhere but are increasingly choosing Britain and showing that Britain can compete in the global race”.

Chris Morgan, head of tax policy at KPMG, added: “When asked what single measure in the UK tax or regulatory regime the government should introduce over the next 12 months, tax relief on infrastructure or capital investments was the stand out leader in terms of what was suggested.

“And our survey suggests that such a move would have a real and lasting impact on jobs and capital investment in the country; precisely what is needed to get the growth we so urgently need”.

Areas that were found wanting by all of the 57 companies were infrastructure and capital investment tax breaks which, if made more attractive, could increase investment by 12%, research and development by 17% and the workforce by 6-7% consisting of “tens of thousands of jobs” according to KPMG.

Mr Morgan added: “It’s extremely difficult to quantify what the impact of these measures might be. However, if we applied the 15 percent highest headcount increase suggested by our FTSE 100 respondents across the 2.1 million people employed by this group as a whole, it would suggest 300,000 extra jobs.

“That precise number is likely to be a bit of a stretch but it does seem feasible that a major boost to capital investment on infrastructure could be a fillip to employment and thus be a driver of growth”.


Patrick Corby

Related Items

More in Current Affairs

Changes to expect during menopause

The editorial unit
Read More

Nek brings Italian pop rock to the Shepherd’s Bush Empire

The editorial unit
Read More

Why Equity Linked Savings Schemes is a preferred tax saving?

The editorial unit
Read More

How the world’s top designers would rebrand political parties

The editorial unit
Read More

Royal baby furore: Proof that the British monarchy is still popular?

Eoin O’Sullivan-Harris
Read More

World Mental Health Day 2018: Raising awareness and combating stigma

The editorial unit
Read More

Seven political personalities you should know about

The editorial unit
Read More

Donald Trump: An enemy of the arts?

The editorial unit
Read More

Trump’s fortune: Where did the money come from?

The editorial unit
Read More
Scroll for more
Tap
  • Popular

  • Latest

  • TOP PICKS

  • Arlo Parks – Collapsed in Sunbeams
    ★★★★★
    Album review
  • Green stars, two female chefs at the top and a controversially quick award: This is 2021 UK Michelin Guide during the pandemic
    Food & Drinks
  • The Capote Tapes
    ★★★★★
    Cinema
  • The Dig
    ★★★★★
    Cinema
  • Swimming Home: An immersive online experience
    ★★★★★
    Theatre
  • Win a DVD bundle of House of Sand and Fog, Away From Her and Young Adam
    Competitions
  • Crobar: Music When the Lights Go Out
    ★★★★★
    Cinema
  • Six books perfect for beating the winter blues
    Fashion & Lifestyle
  • Green stars, two female chefs at the top and a controversially quick award: This is 2021 UK Michelin Guide during the pandemic
    Food & Drinks
  • Assassins: Exclusive new clip
    Cinema
  • Green stars, two female chefs at the top and a controversially quick award: This is 2021 UK Michelin Guide during the pandemic
    Food & Drinks
  • Identifying Features
    ★★★★★
    Uncategorised
  • Arlo Parks – Collapsed in Sunbeams
    ★★★★★
    Album review
  • Identifying Features
    ★★★★★
    Cinema
  • We Still Fax at ANTS Theatre Online
    ★★★★★
    Theatre
The Upcoming
Pages
  • Contact us
  • Join mailing list
  • Join us
  • Our London food map
  • Our writers
  • Support us
  • What, when, why

Copyright © 2011-2020 FL Media

Bloodied cricket bat found at Pistorius’ home
Doctors call for soft drink tax in attempts to halt obesity