1. GENERAL NEWS
1.1. Office of Tax Simplification ('OTS')
The Exchequer Secretary to the Treasury David Gauke MP has
written to the OTS responding to its reports on tax reliefs and the
taxation of small businesses. (See detailed reports later in this
Informal)
www.hm-treasury.gov.uk/d/ots_xstletter_small_business_tax_review_090511.pdf
1.2. Review of tax reliefs
The Coalition Government set up the Office of Tax Simplification
last year and set it two initial tasks, firstly to review over
1,000 tax reliefs and secondly to review the taxation of small
businesses and recommend priority areas for simplification.
The OTS' final report on tax reliefs was published in March
2011 and looked in detail at 155 reliefs. The report identified two
reliefs which were out of date, 45 reliefs which OTS considered had
no ongoing policy rationale and should be abolished, and 17 reliefs
which could be simplified.
