Tax Rewrite body looks at earnings and pensions
The Tax Law Rewrite Committee is to examine Treasury proposals for clarifying and simplifying tax law on earnings and pensions.
Link: Tax Law Rewrite Project
The committee – previously chaired by former Tory chancellor Lord Howe – will meet to chose a new chair and consider its course of proceedings on Tuesday next week (14 January).
Here it is tentatively due to take evidence on the Income Tax (Earnings and Pensions) Bill from the Tax Law Rewrite Project.
The TLRP was set up more than five years with aiming of simplifying tax legislation. A Bill on PAYE regulations is due out this year and will come into force in April 2004.
A Second Income Tax Bill is due to be released in 2004, while work in progress is looking at trading income, property income, investment income and foreign income.