On 7 May, the Financial Times reported the results of Tax Journal and Pinsent Mason’s survey of 75 in-house tax directors and heads of tax, which found that the top concern of British business is the preservation of the tax treatment of interest costs by whichever government took office.
The FT reported that the Tax Journal poll ‘detected widespread support for the coalition government’s tax-cutting policies’ and that those surveyed saw ‘keeping the rules on the tax deductibility of interest costs as more important than maintaining the 20% corporate tax rate or cutting employment taxes’.
The FT also noted criticism of the recently introduced diverted profits tax, with around 70% of poll respondents saying it undermined UK competitiveness, as well as more than 60% of those surveyed saying the current tax system ‘did not adequately support infrastructure investment’.
On 7 May, the Financial Times reported the results of Tax Journal and Pinsent Mason’s survey of 75 in-house tax directors and heads of tax, which found that the top concern of British business is the preservation of the tax treatment of interest costs by whichever government took office.
The FT reported that the Tax Journal poll ‘detected widespread support for the coalition government’s tax-cutting policies’ and that those surveyed saw ‘keeping the rules on the tax deductibility of interest costs as more important than maintaining the 20% corporate tax rate or cutting employment taxes’.
The FT also noted criticism of the recently introduced diverted profits tax, with around 70% of poll respondents saying it undermined UK competitiveness, as well as more than 60% of those surveyed saying the current tax system ‘did not adequately support infrastructure investment’.
