Office of Tax Simplification
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Oct- 2024 -9 OctoberPeople Moves
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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Jul- 2024 -5 JulyPolitics
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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Apr- 2024 -16 AprilPeople Moves
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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Nov- 2023 -22 NovemberTax
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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Aug- 2023 -3 AugustTax
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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Mar- 2023 -28 MarchPolitics
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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Mar- 2022 -18 MarchComment
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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Sep- 2021 -17 SeptemberComment
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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17 SeptemberAccounting Standards
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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Aug- 2021 -18 AugustCorporate Tax
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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