As party confernce season is in full swing, ICAEW’s Chief Executive has sent a clear message to MPs: the UK needs growth and businesses need clarity, confidence and to not be held back by increases in taxation.

In a new video, Alan Vallance, says: “The UK economy is at a crossroads. With the public finances under huge pressure, government faces tough choices. But to get back on track, we need growth.

“Every day our members advise three million businesses across the UK, from the smallest start-ups to the largest global brands. But their success is being held back.

“Businesses need the certainty of knowing the tax system won’t keep changing. The confidence that an overly complex system will be made easier. And the encouragement that barriers to growth will be removed and investment incentivised. They must not be held back by new business taxation.”

Drawing on the knowledge of its 170,000 members and its highly respected research into business confidence, ICAEW has published a series of recommendations for government on how to tackle the growing cost, complexity and uncertainty of doing business.

Tackling uncertainty

1. No more increases in business taxation this Parliament.
2. Publish a long-term tax roadmap covering all business taxes and duties.
3. Accelerate the transition to a sustainable economy and provide tailored support to boost trade.

• Read more

Removing difficulty

1. Take advantage of modern technology – commit to e-invoicing by 2030 and design it with real-time reporting in mind.
2. Improve HMRC service performance – enable better tracking of queries and plug gaps in digital services.
3. Cut duplication in reporting – create a ‘tell government once’ system.

• Read more

Reducing costs

1. Set out clear timelines for transforming business rates to stimulate investment and remove barriers to growth.
2. Reform and simplify employment status for tax.
3. Simplify company reporting requirements – consolidate rules, streamline data collection and clarify roles and responsibilities of regulators.

•  Read more

“With 84% of FTSE 100 boards having an ICAEW member at the table, our members don’t just understand the economy – they shape it,” argues Vallance.

“As chartered accountants, our purpose is to offer independent, evidence-based advice. And that advice is clear: business must be given the means to secure growth. Because it is business that will drive investment, create jobs and raise living standards.”