How is the upcoming tax increase affecting UK businesses?

The major tax increase set to take effect in April is severely impacting UK business confidence, which has plummeted to its lowest level in a decade (outside pandemic periods). This unprecedented decline in employer confidence reflects widespread concerns about the sustainability of business operations under increased tax burdens. The situation represents a significant economic challenge, with businesses across various sectors preparing for financial strain that could potentially affect hiring decisions and growth strategies. This historically low confidence level suggests businesses are bracing for substantial negative impacts from the impending tax changes.