Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

Budget 2009: ICAEW calls for ‘business friendly’ Budget

by
20th Apr 2009
Save content
Have you found this content useful? Use the button above to save it to your profile.

The Chancellor must ease the tax burden for businesses in this Wednesday’s Budget, says the Institute of Chartered Accountants in England and Wales.

The institute warned that any changes to regulatory or tax policy should not add additional burdens to businesses at a time when many are struggling to survive.

“Too often in the past we have seen well-intentioned changes brought in with disregard for the impact they have on the global competitiveness of UK companies”, said ICAEW chief executive Michael Izza.

Among the institute’s suggested measures is an increase on the £50,000 limit of enhanced capital allowances to help companies afford new investment and a deferral of the date on which the VAT rate reverts to 17.5% from 1 January 2010 to 1 April 2010.

It also said business tax policy formulation should be improved to ensure that there is a period of stability.

“The future recovery and growth of the economy depends on businesses, particularly smaller businesses. Any burdensome measures made by the Chancellor, no matter what the desired effect, will be seen by companies as barriers at a time when UK plc needs to be at its most competitive”, said Izza.

Tags:

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.