Businesses value stability and certainty

The government’s commitment to publishing a business tax roadmap in the next Budget has been welcomed by the CIOT. In a letter to the exchequer secretary to the Treasury it put forward some suggestions on what should be included.

One approach would be to adopt what the government set out as its role in its document Business Partnership for Growth in February.

The institute said it overwhelmingly found that businesses valued stability predictability and certainty over any particular rate of tax or tax relief. Greater use of clearances and rulings would be welcome therefore along with better and more accessible guidance. It noted ‘poor/inadequately resourced’ HMRC customer service was hampering business activity and that ‘badly targeted compliance activity’ undermined trust in the system.

The institute said the tax system should work to support business activity but two...