The Future of Tax

Tax is the one certainty all businesses face and it remains a topic at the forefront of negotiation and debate, driving decisions on policy, trade, strategy and business transformation.

As tax leaders face new challenges in an ever-changing landscape, we discuss the impact of technology, innovation, and sustainability on the tax environment as we look to prepare businesses for the future. 

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Tax at the forefront of change 

At the end of last year, we surveyed more than 800 executives from 27 countries around the world for our annual C-suite barometer. Our research showed leaders’ fighting spirit, optimism in the face of ongoing challenges and confidence to invest in and shape a sustainable future. 

Whilst recognising the significant challenges of 2022 - including ongoing inflation and economic instability, high energy prices, geopolitical tensions as well as the lingering effects of the pandemic – it was heartening to see respondents are optimistic about the future. 

  • 90%

    Of UK C-suites have a positive outlook for growth in 2023.
  • 87%

    Of UK Execs expect their organisation's energy costs to increase in 2023.

Transforming technology and developing sustainability strategies top the list of strategic priorities and, as a result, leaders are boldly investing in these areas, along with attracting and retaining talent, and keeping gender equity high on their agenda, to ensure their organisation is fit for tomorrow.  

  • 75%

    Of UK respondents say they have already budgeted costs for ESG strategy and reporting.
  • 35%

    Ranked transforming company IT/tech as one of their top strategic priorities. 

Top 5 Tax challenges we see businesses facing 

1. Navigating changing                      landscape                                                                                                                     

Business owners need to be aware of tax changes already announced. They must also consider how new targeted taxes and measures could impact their business and keep an eye out for areas with planned reforms whilst also ensuring any available reliefs are maximised. 

Read our insights from the recent Spring Budget

2. Sustainability

As tax affairs and behaviours become under increasing scrutiny, more companies are seeking support from specialists to ensure a future of compliant expansion, that fits alongside their approach to the environment, society and governance (ESG). 

Find out more on utilising sustainability initiatives to drive business value

3. Taking advantage of tax                incentives to facilitate                   growth through innovation

Businesses seeking to grow through innovation that play a part in boosting the national economy, need more clarity around the objectives of current tax incentive regimes.

Discover more on the need to focus tax incentives for economic growth

4. Global mobility

The pandemic has proved that employees can operate successfully from different locations and more people than ever before are working or wishing to work remotely from overseas. Employers now have access to a larger talent pool while removing the need to bring international workers into the UK and taking on the costs involved. 

Find out more about global mobility and the value of an international workforce 

5. Cross-border payment –                transfer pricing 

Organisations that span international borders are facing increasingly complex regulatory and tax issues in the different jurisdictions where they operate. Transfer pricing is at the top of the tax priority list for many privately owned and large businesses. We offer a range of solutions for transfer pricing management so you can ensure compliance with Government regulations. 

Learn more about transfer pricing 

Getting ahead 

Whether you’re looking to future-proof your tax department, or need support to navigate the ever-changing tax landscape, our specialist teams have a deep understanding of all areas of tax, providing specialist advice, ranging from corporate and employment tax, transfer pricing and corporate structuring, national and international transactions, to ensuring tax compliance. 

We pride ourselves on our strong client relationships. As your trusted advisor, we take the time to understand your needs and tailor our services accordingly. 

Get in touch 

If you require further information or support with your tax challenges, please get in touch today. 

Contact us today