The UK's "stuttering
tax policy" is causing concern among clients, according to the UK chairman of PricewaterhouseCoopers.
Ian Powell has warned that the "ongoing uncertainty" caused by the
tax policy is a "major" concern for a number of the firm's clients "in the months and years ahead".
Despite reporting a seven per cent rise in the company's profits and adding that its advisory business achieved "very strong growth", he added there is "ongoing uncertainty" in the corporate sector.
"In terms of the wider outlook, we share our clients' concerns over the risks to the continued competitiveness of the UK economy," said Mr Powell.
"The quantity and scope of regulation combined with the level of uncertainty and complexity in this country's
tax system are particular causes of concern, and remain at the top of the agenda for leading UK-based businesses."
KPMG's Global Corporate and Indirect
Tax Rate survey 2008 found that the UK rate is higher than the world average, at 28 per cent compared to 25.9 per cent.
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