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| IoD: Smaller firms struggling with excessive taxation |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 09 June 2011 00:00 |
 Smaller firms with experienced sales staff are struggling to cope with the excessive levels of taxation legislation present in the UK following the recession, a new report has stated.According to research published earlier this week (June 7th) by the Institute of Directors (IoD), the corporation tax rates of 26 per cent and 20 per cent do not accurately put across just how much organisations are being charged. The Tax - The Weighty Burden paper notes this to be particularly true for smaller companies, which are, in actual fact, suffering from rates of somewhere between 32 and 43 per cent. Richard Baron, head of taxation at the IoD, said these figures are indicative of the struggle organisations face to play their role in the wider economic recovery following the recession as they are a "real drag on growth". This comes after Phil Orford of the Forum of Private Business called on banks and businesses to work together to help drive financial recovery. Posted by Daniel Frost 
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