Firms 'held back by tax complexity'. By Dan Martin
UK businesses' international competitiveness is being stifled by a increasingly complex tax system, the Institute of Directors has warned.
A poll by the Institute of Directors (IoD) revealed two thirds of businesses believe the UK tax system has become more complicated during the past five years, while half of firms complained that the complexity has forced them to spend increasing amounts of money on tax planning and compliance.
With regulations and rules becoming more complicated, 60% of businesses said the UK's international competitiveness is being stifled.