Tax issues slowing business mortgage uptake?

09 September 2009

Written by Simon Whittaker

Business mortgage uptake in the UK could be hindered by the government's tax burden, it would seem.

According to independent financial advisory group Forum Wealth Management, many companies are turning their back on the UK to establish themselves in foreign countries.

Ian Wilson, director of the company, said that if the situation is to develop for the better, changes need to be made to the tax burden.

"Businesses want to work in the UK, but again and again and again, the UK government puts as much burden on them as it can and it is slowly pushing them away," he explained.

Accountancy firm MacIntyre Hudson recently published research that indicated how 72 per cent of businesses think the UK tax regime has become less competitive in recent years, compared to other major economies.

It also suggested that 69 per cent of firms would be forced to implement substantial cost reductions if tax was to rise in the future.

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