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UK tax system remains among G20’s most efficient

Finance, Tax

The UK’s tax system is second only to that of Canada’s among the G20 nations, according to PwC’s Paying Tax report. Kevin Nicholson, UK head of tax at PwC, highlighted changes in working practices, technological advances and the “perceived disparity between the tax treatment of bricks and mortar businesses and those operating online” as evidence for the need to review a tax system that hasn’t seen reform in over 30 years. For the second year running, the UK came 23rd globally, while on average a medium-sized UK business spends 105 hours a year filing tax returns, which is half of the 237-hour global average.

 

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