Home - Payroll News
- Recent HR News
- FREE Newsletter
- Payroll and HR FAQs
- Payroll Forum
- Payroll Calendars
- Payroll Tools
- Monthly Brain Teaser
- The Authors
- About Us
- Contact us
office of tax simplification
Consultation on Unapproved Share Schemes
In July 2011, the Office of Tax Simplification (OTS) was asked to conduct a two-stage review into employee share schemes. In March 2012, the OTS put forward its recommendations to the Chancellor of the Exchequer ahead of his Budget and issued its Stage 1 final report on Tax Advantaged Share Schemes (TASS). Many of these [...]
OTS Review of Benefits and Expenses
The Learn Centre has been in contact with the Office of Tax Simplification (OTS) offering to give exposure to a research project they are undertaking which will report directly into HM Treasury. They have drafted the following message. which we are conveying in this Newsletter: ‘The OTS is carrying out a review into the area [...]
Government Responds to Review of Pensioner Taxation
In 2011, HM Treasury asked the Office of Tax Simplification (OTS) to look at simplifying the system for the estimated 5.6 million people of pensionable age who pay tax. In March 2012, the OTS published the first stage of their review and identified a number of issues for further review and consideration: Simplification of the [...]
The Married Couple’s Allowance
Given the recent speculation and reports in various sections of the media, it is worthwhile having a look at the Married Couple’s Allowance. Independent taxation was introduced in 1990, reversing a centuries-old principle that a married woman’s income was part of her husband’s and should be taxed as such. The Married Man’s Allowance (MMA) was [...]
HMRC Responds to Office of Tax Simplification’s Review of Pensioner Taxation
On 11 July 2011, HM Treasury asked the Office of Tax Simplification (OTS) to look at simplifying the system for the estimated 5.6 million people of pensionable age who pay tax. Specifically, the remit was to identify the parts of the tax system that caused the greatest difficulty, especially where pensions are received from multiple [...]
Business Calls for Tax and NICs Reform
At Budget 2011, the Chancellor of the Exchequer announced that a Government aim was to look at simplification of the tax system. This led to a ‘Call for Evidence’ document, which was followed by a ‘Next Steps’ document in November 2011, following a recommendation from the Office of Tax Simplification (OTS) in their Small Business [...]
The ‘Granny Tax’
As we reported on 13 March 2012, The Office of Tax Simplification had previously identified the age-related allowances as a source of confusion and complexity. Further, the Coalition’s increases to the lower Personal allowance were reducing the difference between the lower and age-related amounts. In a move towards a universal tax allowance system, one of [...]
HM Treasury ‘Calls for Evidence’ Response – Next Steps
Budget 2011 announced that Government would consult on the topic of a closer integration between tax and National Insurance, the subject that always seems to be on every Government’s ‘back burner’ in recent years. Between July and September this year, HMRC ran a call for evidence, which received over 70 responses from a range of [...]
Budget – Implementing the Office of Tax Simplification’s proposals
Last week’s newsletter included a review of two reports issued by the Office of Tax Simplification in time for consideration by the Chancellor for his Budget announcements on 23 March. A number of the recommendations found their way into the Budget, as follows. Of the various tax reliefs considered by the OTS, 43 are to [...]
