Income tax simplification

We give independent advice to the government on simplifying the UK tax system, to make things easier for taxpayers. Get updates to this list. Copy and paste this URL into your feed reader.

Claims and elections call . Competitiveness review and so we are working on the basis . Complexity has long been a feature of taxation in the UK. Judith Freedman CBE is Pinsent Masons Professor of Taxation Law at Oxford. University, Director of Legal Research at the Oxford University Centre for Business. This paper therefore focuses on the simplification of corporation tax. Simplification should precede the rewrite of tax law.

The following principles are . EITC, the repeal of limitations on itemized deductions and personal . The OTS has suggested significant inheritance tax reforms, focusing on interactions of IHT with CGT, Agricultural Property Relief and Business . There are now three different kinds of income tax in operation, each with its own concept of a taxable base and its own rates. The withholding tax cuts across all of. We begin with the subject of simplification itself and what it can mean, and follow this with a discussion concerning how to simplify tax systems. Alia Shoaib, Reporter. Hazel Johnson - Tax Director . Tax simplification has led to a proliferation of statutes.

It is disappointing, for example, that certain sections of the Income and Corporation Taxes . The work of the OTS is rooted in improving the . However, attempts to simplify tax systems are only likely to be successful and enduring if they take account of the reasons why taxation is complex. Bill Dodwell considers the meaning of simplification in tax. Technically this could cover income tax , corporation . Public Economics 1: 323- . What does this mean for Small Business. The overall objective is a SBT regime: With minimal compliance and administrative costs.

The tax system is complicated because tax is rarely used solely to raise revenue. Any tax -neutral simplification would create winners and losers . For other small companies: a minimum number of essential tax adjustments to accounting profit. The pro-market policies also called for tax simplification , which may be viewed as a mi- croeconomic reform measure aimed at reducing.

Following a “call for . Internal Revenue Code (I.R.C. or the Code).