Office of Tax Simplification

The Office of Tax Simplification is an office of HM Treasury, part of the Government of the United Kingdom.[1] The office was created on 20 July 2010 to identify areas where complexities in the tax system for both businesses and individual taxpayers can be reduced, and then to publish their findings for the Chancellor to consider ahead of his budget.[2]

The initial board members were Michael Jack (Chairman), who as a former MP and Financial Secretary to the Treasury established the Tax Law Rewrite Project, and John Whiting (Tax Director) who is the first Tax Policy Director of the Chartered Institute of Taxation.[2] Jack and Whiting were appointed on an interim basis to lead the Office for the first year, and confirmed in office in September 2011.[3] Along with the members of committees established to support the work of the Office, they are not paid for their work.[2] They were supported by a small secretariat, including tax experts from HM Revenue and Customs and the Treasury and externally funded secondees from the tax and legal professions.[2] The first set of private sector secondees were Tom Byng, Caroline Turnbull-Hall, Partha Ray and Kate Cottrell, who joined Jeremy Sherwood, Tunde Ojetola and Anish Mehta.[4]

The OTS submitted 2 reports to the Chancellor in March 2011. These are the Review of Tax Reliefs[5] and the Review of Small Business Taxation.[6] The Chancellor accepted some of the recommendations in his Budget announcement where he agreed to abolish 43 reliefs.[7]

Following becoming a statutory body under the 2016 Finance Act, the Office of Tax Simplification intends to focus on the new challenges faced to employment taxation in the context of the 'gig economy'.[8]

See also

References

  1. ↑ "Office of Tax Simplification". HM Treasury. Retrieved 20 July 2010.
  2. 1 2 3 4 "Press Notice 29/10: Office of Tax Simplification". HM Treasury. Retrieved 20 July 2010.
  3. ↑ Whiting takes permanent tax simplification role, Accountancy Age, 30 September 2011
  4. ↑ "OTS Recruits 4 Secondees". HM Treasury. Retrieved 10 March 2011.
  5. ↑ "Review of Tax Reliefs". HM Treasury. Retrieved 3 March 2011.
  6. ↑ "Review of Small Business Taxation". HM Treasury. Retrieved 10 March 2011.
  7. ↑ "Abolished Tax Reliefs". HM Treasury. Retrieved 10 March 2011.
  8. ↑ markcatcher (2016-09-18). "An Office of Flat Tax Recommendation?". inasleeveplease. Retrieved 2016-09-18.

External links

This article is issued from Wikipedia - version of the 10/14/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.