Office of Tax Simplification to look next at pensioner taxation and employee share schemesSaturday, July 16th, 2011
HM Treasury asks for interim reports on two new areas of taxation in time for Budget 2012.
The independent Office of Tax Simplification (OTS) was set up in July 2010 to carry out reviews and provide expert advice to the Chancellor on options to improve and simplify the UK’s tax system. Reports on the first two reviews, i.e. on the simplification of tax reliefs and small business taxation, were completed in advance of Budget 2011.
HM Treasury has asked the OTS to review the current operation of
- pensioner taxation, identifying the parts of the tax system that create the greatest difficulty for pensioners, particularly where they receive pensions from multiple sources, and
- the four tax-advantaged employee share schemes, identifying areas that are overly complex and administratively burdensome, and suggesting simplifications.