With ASKAR SHEIBANI

CEO Comtek Network Systems UK Ltd and Chair DBF

There is now a great opportunity post Brexit for the UK government to upgrade and modernise the tax regime.

The UK government has no excuse now not to reform the UK’s outdated business-related tax regime.

The Tax system in the UK has to become more enterprising. It has to encourage entrepreneurship, business growth, innovation, and manufacturing.

A modern tax system must be fair by supporting British businesses and preventing large global companies, such as dominant online American platforms, that are fiddling their tax and destroying our town centre businesses.

We have too much wealth concentrated in the hands of a very small minority. The British Government must make sure that wealth is utilised in productivity and employment growth.

There should be tax incentives for wealthy investors investing in small creative businesses and start-ups. There should be an attractive tax incentive for the overseas investors investing in our home-grown small British businesses.

There must be a wealth tax as in France Spain and Portugal, on those who are simply hoarding vast amounts of personal assets. The chancellor should encourage entrepreneurship and not scrap the entrepreneurs' tax relief.

The most hated unfair and draconian Business Rates (Council Tax), must be scraped and any losses from that be incorporated into the Corporation Tax. He should implement heavy taxes on environmental polluters and give huge tax incentives for renewable clean energy producers. He should use the tax incentive to encourage businesses to upskill their workforce. We need a massive investment in our schools and education sector which has suffered enormously due to the pandemic.

The chancellor needs to invest in the UK’s critical infrastructure such as digital, public transport, renewable energy and affordable housing.

Regions like the North of England and North Wales have been ignored for too long. It’s time now to embark on the promised levelling up agenda and divert the focus from South to North.

The government has poured a huge amount of money into businesses and healthcare recently and has therefore created massive debt.

This debt has to be paid back through taxation and economic growth. However, the UK must aim to be an attractive place for international investors to come to and invest in our talented entrepreneurs and small businesses.

This can only be achieved by a clever tax system that is internationally competitive and in a country which can offer modern infrastructure with highly skilled and highly educated human resources.