OTS publishes series of recommendations for simplifying tax system

The Office of Tax Simplification (OTS) has outlined a range of measures designed to help simplify the UK tax system.

24 Jul 2020

The Office of Tax Simplification (OTS) has outlined a range of measures designed to help simplify the UK tax system.

In the OTS's latest evaluation and stock take note, which considers its work on corporation tax and the taxation of self-employed people, the Office highlighted taxes it feels can be reviewed by the government in order to reduce the administrative burden on businesses.

In regard to personal service companies, the OTS suggests renewed consideration of enabling a small personal service style business to operate through a UK limited company while being treated as transparent for tax. The stated aim would be to provide a fully recognisable form of limited company, removing it from corporation tax and introducing the 'relative ease of a self-employment style tax calculation'.

The OTS also reaffirmed its support for HMRC doing more to enhance the taxpayer Personal Tax Account (PTA), including integrating it with the Business Tax Account (BTA). It believes this will 'provide an end-to-end tax reporting and payment service and facilitate the simplification of tax administration for self-employed people'.

Additionally, the OTS stated it would welcome the development of a statutory definition of employment for tax purposes.

For more information on the OTS's recommendations please click here.

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2020 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK