office of tax simplification

ACCA calls for Government to ‘Think small first’

The newly established Office of Tax Simplification will provide welcome respite for the financially challenged contingent of SMEs across the UK, says ACCA (the Association of Chartered Certified Accountants). However, the key is as much consistency as it is policy. Chas Roy-Chowdhury, ACCA Head of Taxation, said, “In recent years, the UK tax policy has changed as often as the people in charge of it. We applaud the Treasury’s decision to establish the Office of Tax Simplification, but to make this initiative truly of benefit to businesses of all sizes, it is vital that the work of the Office remains politically independent and that its recommendations do not fall by the wayside as the Coalition Government shifts its focus to other areas of the UK economic recovery.” Roy-Chowdhury also belie... »

Business Groups Welcome Office of Tax Simplification

A new tax body set up by the Government to unravel the “spaghetti bowl” of complex tax laws has been broadly welcomed by business groups. The Office of Tax Simplification (OTS) task force, made up of a board of senior tax experts, is expected to deliver two reviews before the Budget next year. The first will look at all 400 tax reliefs, allowances and exemptions to see how they can be streamlined, while the second will focus on ways to simplify the tax system for small businesses, including finding a simpler alternative to IR35 legislation. IR35 was brought in ten years ago to tax “disguised employment” among contractors and freelancers. According to the British Chambers of Commerce (BCC), the establishment of the OTS was a “necessary and long overdue response... »