| The Office of Tax
Simplification (OTS) has completed a key
stage in its major review of tax reliefs.
The OTS’s interim report, issued on 13
December, follows publication the previous
month of a full list of all 1,042 UK tax
reliefs and allowances, when the OTS also
invited comments and views from those who
use them.
In the interim report, the OTS focuses
on a sample of 13 reliefs, selected to
include a variety of different types of
relief.
The report is designed primarily to
invite comment on whether the methodology
used by the OTS is appropriate and whether
any additional or alternative criteria
should be used in its final report. The
OTS stresses it is not looking to draw any
final recommendations or conclusions at
this stage.
Reliefs considered for retention in the
interim report include income tax relief
for players in the UEFA Champions League
Final 2011; for simplification, research
and development tax relief; and for
abolition, vaccine research relief.
Subject to comments received on the
interim report, the OTS will apply its
criteria to a further 74 reliefs and, if
time allows, 75 more for a final report to
be published ahead of the 23 March 2011
Budget. These further reliefs are also
listed in the interim report.
LINK:
Tax reliefs review |
