A new survey has shown the UK public’s attitude towards business has improved, but work still needs to be done.
According to the Institute for Business Ethics (IBE) annual survey tax avoidance and bribery and corruption remain among the most important ethical issues.
The survey, supported by the Fair Tax Foundation, found corporate tax avoidance is the most important issue.
For the last 20 years, the IBE has commissioned an annual survey of the British public’s attitudes toward business.
Minority believe businesses behave ethically
Overall, the survey shows that just 44 per cent of the public believes that businesses behave ethically, and although a minority, is still up four per cent from the same period last year.
Corporate tax avoidance, at 47 per cent, was followed by bribery and corruption at 27 per cent.
But environmental responsibility has improved with 24 per cent dissatisfied, compared with 29 per cent in 2021.
The survey concludes that businesses and UK politicians must do better at demonstrating their ethical credentials if they are to win back the confidence of the British public.
What can businesses do to improve?
- Work with their accountants to ensure they are paying the correct amount of tax.
- Update anti-bribery and anti-corruption policies.
- Ensure gifts and hospitality are properly declared.
- Be transparent when dealing with third parties and check they have the appropriate credentials.
Other key findings include:
- The gender gap on bullying and harassment reflects a post-Covid return to work with the gap up six percentage points, with 12 per cent of men and 18 per cent of women citing this as a concern.
- A dramatic narrowing of the gap between the youngest and oldest generations for corporate tax avoidance from 20 per cent to just four per cent this year, implies this issue will be of greatest concern across the ages for some time to come.
Dr Ian Peters MBE, from the Institute of Business Ethics, commented: “The improvement in public perception of business culture is welcome but it is small. Business leaders must be more transparent in demonstrating and reporting how they are addressing the areas still troubling the public.”
For help and advice on related matters, please contact our expert team.
Our BLOG
How tax wrappers can mitigate the impact of rising Capital Gains Tax
TESTIMONIALS
The staff at CST are always very friendly and approachable.… Read more “Mr JD Dolling, SW Heating Equipment Ltd”
We have been with CST for more than seven years… Read more “Doris Francis, Engineering Services (Bridgend) Ltd”
Our business has been handled by CST for many, many… Read more “Mr & Mrs Rise”
I moved my business to Clay Shaw Thomas because I… Read more “Sandra Wilkinson of Sage Marketing”
The audit was well planned and executed efficiently, with minimum… Read more “GE Carpentry”
Privately and within the company Clay Shaw Thomas provides a… Read more “Seashore Enterprises”
I am very happy with the service from CST. An… Read more “Mr Atkinson “
The family connection with CST goes back many years and… Read more “Dr Jones”
CST are very efficient, courteous and proactive when dealing with… Read more “Mr CMG Adams”
I have been a client for over twenty years and… Read more “Mr J T Wall”
Always one step ahead of the game, CST have helped… Read more “Mr RT Evans”
CST Staff always give unbiased advice in a clear and… Read more “Mr L Branfield”
It has been a professional pleasure working with CST, they… Read more “Mr P Jenkins”
SUBSCRIBE to our list
If you would like to see full details of our data practices please visit our Privacy Policy and if you have any questions please email tellmemore@clayshawthomas.com.