Govt launches OTS to address tax system complexities
Date posted: 22 Jul 2010
In a bid to address tax complexities, the coalition government has announced the launch of the Office of Tax Simplification.
Published by Louise Border.
The Office of Tax Simplification (OTS) has been launched by the coalition government, with ministers aiming to cut down on some of the complexities that exist within the UK's tax system.
It is hoped that taxes relating to both individuals and businesses will be looked into by the new body.
Michael Jack will serve as the OTS board chairman, with the organisation designed to inform the chancellor's annual financial Budget.
George Osborne, the coalition's chancellor of the Exchequer, feels that the tax system has become overly complicated in recent years.
He stated: "With its independent, expert advice it [the OTS] will be a permanent force for a simpler tax system."
Mr Osborne added: "Simpler, more competitive taxes will help us show the world that Britain is open for business."
Meanwhile, the coalition also recently launched its Your Freedom website, which enables people to list regulations they would like to see scrapped.
Please contact Ed Turner, head of services for individuals, for further information or call 01223 225196
Click here to email or call on 01223 225011 or 020 7382 8011.
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