The Office of Tax Simplification has announced that its first two reviews are progressing well. They released a press statement to this effect while also announcing the recruitment of four tax experts to the team. It will fall upon these experts to furnish OTS with their public and private sector expertise and experience. Their role will be an advisory one. Kate Cottrell, of Bauer and Cottrell, is amongst those taking up position with OTS.
Tax director, John Whiting, stated: “I am delighted to have such an experienced team with their wide range of tax backgrounds in place, and I am very grateful to the firms that have released them. We are now getting going on our challenging task of helping to simplify Britain’s tax system.”
The Office of Tax Simplification was founded back in July. Its purpose is to advise the Chancellor George Osborne on matters directly relating to taxation. When this government came to power it pledged to simplify the country’s taxation systems and the reviews tasked to OTS are the first step in this process. They are currently reviewing small business taxation and tax reliefs, exemptions and allowances.
A published list of tax reliefs will be made available in the next couple of weeks and OTS will identify their planned review criteria. They are anticipating and welcoming comments on this which will inform the report which follows. The interim report on the small business taxation review is due to be published in time for the Budget 2011.