Key findings Government support SMEs in general felt well supported by governments during the pandemic Praveen Gupta Azets UK, Head of Tax The UK has one of the most complex tax legislation in the world and this was made even more complex as a result of the Covid measures which included the valuable Coronavirus Job Retention Scheme. So even though UK SME’s feel more supported, they have also had to deal with a raft of new tax rules recently as a result of Covid and the end of the transition period. What we need now is a period of tax certainty so that businesses can plan with confidence as they pivot and rebuild their businesses. 27 Azets SME Barometer Report Summer 2021 As Europe went into lockdown last year, governments everywhere stepped in to support businesses during the pandemic. On balance across the UK and our Nordic locations, SMEs in general felt well supported (53%). Despite the UK government’s levelling up agenda, those in the Midlands (76%), London and the South East (71%) feel rather more supported than those in the North (66%). What more can governments do? SMEs have plenty of ideas, which mostly come down to reducing the tax and regulatory burden on small businesses: Help the economy recover. Ensure it’s still attractivefor people to invest insmall businesses SME UK Simplify legislation, reduce taxes and fees, generational change without tax, faster case processing SME Denmark Recognize the good work with infection control and safety, and open up more SME Norway Reduce Corporation Tax and increase help with investment in R&D and energy saving investments to reduce our carbon footprint SME UK Compensate for lost turnover and profit e.g. tax deductions SME Finland Contents Contents Contents Contents download report download report Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets Foreword Summary of findings About the study Key findings Economic outlook Business outlook UK levelling up Opportunities and threats Priorities ahead Investment and borrowing Government support International trade and Brexit Personal impact About Azets