Simplification

In November last year the Chancellor asked the OTS to report on the competitiveness of the UK tax system, explains Simon Sweetman.

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The word is out again, with calls for the tax system to be altered so that taxpayers can understand it: A simple (not to say simple-minded) request.

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The Office of Tax Simplification (OTS) continues.

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Hundreds of thousands of families losing child benefit payments this year need to "get off their backsides" and fill in extra forms to avoid being fined by the tax

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In 2006, the then Labour government introduced “pension simplification”.

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A few minor tweaks have been made to simplify the optional cash accounting regime that will be available to small, unincorporated businesses from 1 April.

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Just before Christmas, HMRC released amended draft Finance Bill 2013 clauses setting out further details for the simplified income and expense regime, and transitional rules to restrict manipulatio

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Proposals to simplify financial and corporate reporting requirements could benefit five million of the smallest businesses, resulting in considerable cost savings in accounts preparation.

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