OTS review of its approach to simplification and its aims, approach and priorities
The recent HMT statutory five-year review of the Office of Tax Simplification (OTS) recommended that the OTS “undertake a project to articulate its approach to and interpretation of ‘tax simplification’, including clarifying its aims as an organisation, and the success measures for assessing its progress”.
This work will be a formal review. It focuses on conclusions that can inform how the government should prioritise simplification efforts and how the OTS should prioritise its work over the next five years. A document setting out the scope of the review has been published. Submissions to firstname.lastname@example.org are invited by 3 April 2022.
ICAEW’s Tax Faculty will be meeting the OTS to discuss the review and welcomes input from members to email@example.com.
Property Income Review
The primary focus of this review will be to identify opportunities for simplification of the tax and administrative treatment of individuals, partnerships or micro companies deriving income from residential property. The OTS will publish a call for evidence and an online survey in the near future. When these are published, ICAEW’s Tax Faculty will seek input from members to inform its response. In the meantime, the scoping document indicates what areas the review might cover.
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