Businesses expect taxes to rise after the general election

A survey of more than 500 mid-market businesses revealed that 77% of businesses expect to pay the same or higher taxes after the next general election according to BDO.

The mood appears to have shifted from July this year when a similar survey suggested that a majority of businesses (61%) thought that the UK’s business tax environment would improve after a general election.

The firm suggests that this change in sentiment may reflect a growing appreciation of the state of the public finances the outlook for interest rates and the prospects for political change.

While the chancellor has made clear that tax cuts are not likely to be on the agenda at the autumn statement when presented with options that the Treasury should consider to help businesses 38% of respondents said that investment in HMRC service levels should be his top priority followed by...