After weeks of speculation over the Autumn Budget, and an unprecedented early speech by the Chancellor, it is anyone’s guess as to what will be in her famous red box.

What we do know is that she is determined to promote economic growth – and the Budget represents a welcome opportunity to reset the dial.

Taxation doesn’t have to be a bad word; the fact is, it is a key lever to help businesses be more profitable and create jobs. And jobs and wealth are crucial to helping ailing communities to rise up.

Over the last few years, ever-changing tax rules have created a climate of confusion and uncertainty among business owners. Every few months, the goalposts seem to shift. From reforms to Business and Agricultural Property Relief (BPR/APR) to ongoing change to Business Asset Disposal Relief (BADR), entrepreneurs are second-guessing the rules that shape their futures.

As a result, we’re seeing a “watch-and-wait” culture take hold. I recently spoke to a client who has substantial land to sell but is holding off to see what happens in the Budget. While eminently sensible, and entirely understandable, doing nothing stalls progress.

Deals are being delayed. Projects are being shelved. People are hesitating to take the leap. Uncertainty and confusion about tax policies have an adverse impact on business and entrepreneurs who are geared up to take informed risks. Loss of confidence also leads to a loss of the entrepreneurial spark that powers growth.

Businesses can plan for higher taxes. What they can’t plan around is confusion, caused by continued change to fill short-term fiscal gaps.

The Corporate Tax Roadmap set out the long-term direction of UK corporation tax in a way designed to provide clarity, stability, and predictability for businesses, giving them greater confidence to invest.  A similar approach would be beneficial across the wider UK tax system to enhance stability and predictability, helping businesses and individuals plan investment and economic activity with greater confidence while improving trust in the consistency of fiscal policy.

Tax policy can and should support those who create jobs. What’s needed now is a system that’s simple, stable and credible. That doesn’t mean low taxes at all costs. It means fair, transparent rules that give businesses the confidence to act.

A Budget that gets behind business owners and entrepreneurs will unlock the economic activity we need to create jobs that put money in people’s pockets and raise the tax take that funds our public services. Now is the time to create the conditions for success.

Get in touch

If you'd like to discuss any of these matters, don't hesitate to contact me at Alex.Docherty@jcca.co.uk.