Consultation on simplifying tax for the future
13 May 2016
The OTS was established in 2010 to be an independent office of HM Treasury to make recommendations on how to simplify tax in the UK. The 2016 Finance Bill will place the OTS on a permanent statutory basis and it has now published a strategy consultation document which sets out, and seeks views on, how the OTS thinks they should develop and operate as they embark on this new chapter as a statutory body.
To deliver their strategy the OTS plan to:
- set out how new trends and changes in business and employment (such as the sharing economy) will impact on tax
- consider how to make tax simpler given these changes to how we work
- reviews areas integral to these trends and identify difficult issues where an informed discussion is required
- take the issues and options out for wide discussion and evidence gathering
- encourage simplification to be built into tax policy making and implementation early on in the process
- engage closely with HMRC on its important digital agenda.
The OTS is seeking engagement and representations from all interested parties. They have set out a number of questions in the strategy document. Responses should be sent to [email protected]
The OTS is also planning a stakeholder event on this subject, on 18 July; details to follow.
The Policy Team will continue to be involved in all OTS consultation and urge the profession to respond to the questions set out in this document, either directly or through policy and we will submit on your behalf.
The OTS are speaking at all of this year’s CIPP National Forums so if you haven’t yet signed up, visit the events area on our website to book your place – these events are free to members and there are limited spaces.