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Companies could quit UK over tax rise?
Companies will leave Britain to avoid Rishi Sunak’s corporation tax rise, experts have warned, with the Centre for Policy Studies think-tank saying that the move will “give the UK one of the least competitive tax systems” of Organisation for Economic Cooperation and Development nations. It warned of a “chilling effect on investment and growth”. Chas Roy-Chowdhury, former head of tax at the Association of Chartered Certified Accountants, said that the rise was “a seriously bad idea”, while Chris Sanger, head of tax at EY, said the tax rise “may just encourage businesses to place their next investment outside the UK”. Tony Danker, director-general of the CBI, said that businesses all accept “that we need to pay our fair share of tax in the years ahead and that taxes need to go up for the crisis”, but added that “going from 19 % to 25% overnight in two years’ time is a shock.”
The Times Daily Mail
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