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Issue:
4897
/
Categories:
Comment & Analysis
, HMRC
, OTS
, Treasury Committee
, Compliance
, Policy
The important questions
Key points
- The chancellor decided not to reverse the decision to abolish the Office of Tax Simplification.
- The tax system as it currently exists is overcomplicated and creates ‘cliff edges’.
- The Treasury should report to the Treasury Committee annually on steps taken to simplify the tax system – covering both new and existing taxes.
- How will the Treasury measure its performance?
On 23 September 2022 the then chancellor Kwasi Kwarteng announced in his ‘mini-budget’ that the Office of Tax Simplification (OTS) would be abolished. Done away with. Fugazi. Some did not oppose the idea outright. Some expressed concern and called for a policy re-think.
The Treasury and HMRC Mr Kwarteng said would focus on simplifying the tax code. On taking over the chancellorship from Mr Kwarteng in October 2022 Jeremy Hunt decided not to overturn his predecessor’s decision. Quite the reverse.
In...
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