UK tax regime criticised

The UK tax regime has come under criticism once again as the chief executive of Alliance Boots highlighted the fact that high taxes are likely to drive away big businesses.Stefano Pessina stated: “The atmosphere of the country should be consistent with what the government is trying to do, and the general atmosphere of the country is really more and more against business.”Speaking to the Financial Times, he added that Alliance Boots is ready for another “transformational deal”, possibly in the US, suggesting that the UK tax system is discouraging the firm from investing here.Indeed, he warned that companies should “definitely” consider moving elsewhere if the UK business climate was not improved and noted that making Alliance Boots resident in the UK rather than Switzerland it would pay “more or less the same amount of taxes”.High taxes aren't just a problem for big companies and individuals have also felt the sting of the 50 per cent tax rate for several years now. While this will fall to 45 per cent from next year, it is still a problem for businesses encouraging the best talent to work in Britain.

http://www.50percenttax.co.uk/index/2012/5/16/uk-tax-regime-criticised.html