More OTS proposals in a fortnight, says Whiting
Tax director at Office of Tax Simplification said that it will produce further review proposals
THE OFFICE OF TAX SIMPLIFICATION will firm up possible further projects in the next couple of weeks, according to its tax director.
Exchequer secretary to the Treasury David Gauke told the OTS last week that he would like a further review on the tax administration for small businesses, following the office’s reviews earlier this year.
Gauke also invited proposals from the OTS of possible future reviews.
Tax director John Whiting told Accountancy Age that the OTS is currently considering proposals. He said: “There are a few projects within our small business report that we would like to take forward, whether a separate system is needed for small businesses, for example.
“The plan is over the next couple of weeks to firm up on another couple of other projects: inheritance tax, pensioners’ tax, employee benefits, share schemes and so on. They all have potential but we can only probably do a couple of projects.”
The Treasury select committee is investigating HMRC administration. Whiting said there will be “an overlap” but added that the OTS work will be “complementary”.
He highlighted: “The OTS will look at small businesses, with the government’s interest in entrepreurship, growing small businesses. There is a lot of support within HMRC in this. If we can point to ways of being more efficient, that helps HMRC as well.”