Office of Tax Simplification

HMRC board welcomes two new non-executive directors 

Digital transformation expert Mike Bracken and tax specialist Bill Dodwell have joined the HMRC board as non-executive directors.They join the board as it looks to focus on three strategic priorities for HMRC: closing the tax gap improving customer service modernising and reforming HMRC Bracken has led digital operations and transformations…

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Starmer must prioritise ‘finance and economics’, says ACCA

ACCA has urged the new Labour government to prioritise finance and economics in the first 100 days of their leadership, after Keir Starmer secured a landslide victory for the party.  The association has welcomed Labour to outline timetables for addressing “key” issues such as economic, fiscal and corporate governance over…

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CIOT appoints three to leadership team

The Chartered Institute of Taxation (CIOT) has appointed Charlotte Barbour as president, with Nichola Ross Martin as deputy president and Paul Aplin as vice-president. The appointments were formally approved by the CIOT’s Council earlier this year and the officers will take up their new roles on 30 May at the…

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Corporate tax reliefs rise £10.3bn in a year, research finds

The value of UK corporate tax reliefs have risen £10.3bn in a year, from £113bn to £123.3bn, to reach the highest level in at least five years, according to new research from Thomson Reuters.   The research has found that tax reliefs have become “even more” important to UK corporations as…

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Record £16.7bn of CGT receipts registered by HMRC

Record amounts of capital gains and tax were recorded in the 2021 to 2022 tax year with HMRC recording Capital Gains Tax (CGT) liability of £16.7bn for 394,000 taxpayers. The latest figures from HMRC revealed that liability was released on £92.4bn of gains. Both the total CGT liability and the…

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Azets director calls for reversal of OTS abolition

A leading consultant at Azets has called on the government to reverse its decision to abolish the Office of Tax Simplification (OTS). Associate director John Hiddleston has written to the chancellor Jeremy Hunt MP and financial secretary to the Treasury Victoria Atkins MP to call for a “rethink” of the…

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13 Spring Statement predictions

With both the global and UK economies coming under pressure from the rising cost of living crisis, which has only been exacerbated by Russia’s invasion of Ukraine, all eyes will be on the chancellor when he makes his Spring Statement speech on 23 March 2022. Here, Christy Wilson, tax associate…

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IFA urges OTS reforms to support government on simplifying tax

HM Treasury published its Call for Evidence: Review of the Office of Tax Simplification (OTS) in May, inviting stakeholders to submit feedback on its role as the Chancellor’s independent adviser on making the tax system simpler for taxpayers, as part of its first five-year review of the OTS. To enhance…

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Tax year change would bring ‘clear advantages’ but ‘significant’ costs, report finds

The Office of Tax Simplification (OTS) has claimed that there would be “clear advantages” in moving the UK’s tax year dates. However, the body has recognised that changing the period to end either on 31 December or 31 March would incur “significant” transitional costs and impacts. The comments were made…

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Some 91% of mid-sized firms support tax year change

Over nine in 10 (91%) of mid-sized firms would reportedly support a change in the tax year to 31 December. According to research conducted by BDO, the 91% of responding business leaders claimed now is the time for change to simplify the current tax system. Currently a proposal that is…

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