This CEBR report, based on a survey of 250 U.K. businesses, finds that:
is how much revenue cross-border tax complexity cost the U.K. economy last year
of businesses feel that staying compliant with tax regulations is the most stressful thing about running their business
3 in 5
of U.K. exporters have reversed plans to sell in some European countries over fear of fines and compliance issues
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U.K. businesses face a choice when it comes to cross-border tax complexity: avoid it, and restrict themselves to the domestic market, or tackle it, and unlock lucrative growth opportunities.
Knowing that £47.6 billion could have been added to total exports to the EU last year, 72% of U.K. businesses remain enthusiastic about growth opportunities across the Channel.
Manage risk, reap rewards
Mastering cross-border complexity is well worth the reward of cross-border expansion. You just need the right tools.
About this CEBR report
Avalara commissioned the Centre for Economics and Business Research (CEBR) to assess the economic impact of EU cross-border tax complexity on UK exporters.
Specifically we were interested in the administrative burden associated with complex or confusing processes and schemes associated with cross-border trade.
About the IDC MarketScape reports
The IDC MarketScape reports are guidance tools for businesses seeking to digitize their tax compliance processes. What sets IDC MarketScape apart is its rigorous scoring methodology, looking beyond market share and providing a clear framework comparing the product and service offerings, capabilities and strategies, and current and future market success factors for each vendor.