The closure fell under The Growth Plan 2022, which was introduced by Kwarteng on the principle that simplifying tax should be the responsibility of the Treasury and HMRC.

However, the decision to abolish the OTS was disappointing, warned Bill Dodwell, tax director of the OTS, and Kathryn Cearns, the advisory body’s chair.

Bill Dodwell, tax director of the OTS, said: ‘It contained no reason why the office should be closed and the government, and future governments, will miss some of its attributes.’

Dodwell added that the decision to close the independent body was ‘without justification’ and called for the current Chancellor Jeremy Hunt to reconsider the move.

The OTS was created in 2010 to identify areas where complexities in the tax system for both business and individual taxpayers could be reduced.