Government publishes productivity strategy

A plan to improve the productivity of UK businesses has been published by the Treasury. The policy document identifies 2 key areas to stimulating productivity in the UK: long-term investment and a dynamic economy. Among the measures included in the strategy are: the government aims to increase business investment by lowering personal and business taxes,[…]

Compliance costs SMEs

SMEs pay almost £10 billion in tax compliance costs each year, according to research by the Association of Accounting Technicians (AAT). The survey of 500 businesses reveals that the average SME spends £4,376 complying with business taxes each year. Collectively, the SME sector spends £9.9 billion annually on tax compliance. Important findings: SMEs spend up[…]