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Past, present and future prospects for tax simplification.
KEY POINTS:
- The requirement of fiscal neutrality impedes tax code simplification.
- Is there the political will to merge income tax and National Insurance contributions?
- Although the number of HMRC employees is reducing increasing amounts of guidance and regulation are required.
- Should the Office of Tax Simplifi cation consider whether VAT could be simplified?
- What are the chances of the amount of tax legislation reducing by 2020?
Having been invited to sit on two consultative committees to discuss employee share schemes for the Office of Tax Simplification (OTS) – with the opportunities to observe its inner workings for more than a year – the news that the body will continue to operate for at least the duration of the current parliament is very welcome.
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