Office of Tax Simplification
(13 years, 2 months ago)
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The Exchequer Secretary to the Treasury (Mr David Gauke)
The Government launched the Office of Tax Simplification (OTS) in July 2010 to provide independent advice on simplifying the tax system.
The Chancellor tasked the OTS with identifying areas of the tax system that cause the most day-to-day complexity for small businesses, recommend priority areas for simplification and consider the impact of these recommendations on different business sectors.
The OTS was also asked to identify the complexities surrounding the intermediaries legislation widely known as IR35 and to consider simpler approaches that ensure that any income that is effectively employment income is fairly taxed.
Today the OTS has published its interim report in which they identify structural complexities in the tax system and put forward their provisional recommendations on ways the Government might be able to pursue their simplification. The OTS also presents evidence on complexity caused by IR35 and options for the Chancellor to consider.
The Government will respond to this report at Budget on 23 March 2011. A copy of the report has been deposited in the Library of the House.