Four-fifths of mid-sized businesses see tax as 'an opportunity to drive growth' according to KPMG, while more than half said that growth and investment was the main motivator in tax affairs. Research by the consultancy firm found that 78 per cent see tax as an opportunity to drive growth and 40 per cent of medium-sized businesses think the tax system is too complex and that their voice is not being heard enough in shaping tax policy.

According to the survey of 700 UK businesses with revenues between £25 million and £300 million, tax policy can create opportunities for businesses such as:

• job creation;
• improving margins;
• investing in capital expenditure;
• attracting investment;
• supporting exports.

Companies that view tax policy simply as a compliance exercise are in the minority: just under a quarter said their priority was to simply meet compliance requirements and fewer than a fifth said that their main concern is to protect the bottom line.

MNCs have too much tax influence?

The survey also found that 38 per cent of mid-sized businesses said that the tax system was too complex, with higher concerns over complexity in regions outside London. And nearly three quarters (72 per cent) of respondents said they felt that large multi-national corporations have influenced tax policy too much. KPMG's Mike Linter commented: “Britain is at a junction as it shapes the economy for life outside of the European Union. Addressing imbalances between regions should be a priority of the Government and that starts with creating a tax system that is more supportive and accessible for all businesses. Clearly, there is more work to be done in giving businesses of all shapes and sizes a stronger voice in shaping tax policy. The Government should consider new ways to work with businesses to ensure that they feel engaged and have the chance to steer policy in a way that will foster growth and investment in this critical segment of the economy.”