Three quarters of private businesses interviewed by PwC for a recent survey said the UK tax regime was unsupportive of enterprise, the firm announced.
‘Recent SME-targeted measures such as increased tax relief for research and development will have no impact according to 60% of private businesses questioned,’ PwC said. ‘The same will be the case for grant funding for apprenticeships, the extension of the small business rate relief holiday, and reforms to [EIS and VCTs] say 58%, 70% and 61% of private businesses respectively.’
However, it was ‘important to note’ that the survey population covers a broad range of industries and stages of growth. ‘Measures such as R&D tax credits, EIS and VCTs have been shown to have significant impact on targeted parts of the SME sector,’ the firm added.
Three quarters of private businesses interviewed by PwC for a recent survey said the UK tax regime was unsupportive of enterprise, the firm announced.
‘Recent SME-targeted measures such as increased tax relief for research and development will have no impact according to 60% of private businesses questioned,’ PwC said. ‘The same will be the case for grant funding for apprenticeships, the extension of the small business rate relief holiday, and reforms to [EIS and VCTs] say 58%, 70% and 61% of private businesses respectively.’
However, it was ‘important to note’ that the survey population covers a broad range of industries and stages of growth. ‘Measures such as R&D tax credits, EIS and VCTs have been shown to have significant impact on targeted parts of the SME sector,’ the firm added.
