The Office of Tax Simplification (OTS) has confirmed the date for its stakeholder conference next month, offering an opportunity to discuss future tax development including proposals to reform small business tax and a potential merger of income tax and national insurance contributions (NICs)
The event is being held on Monday 18 July 2016. The OTS says anyone who is interested in attending is welcome to get in contact and see if there are places available.
The OTS strategy consultation document, which was published in May, will be the focus of discussion at the conference.
This sets out a threefold strategy for the body’s remit: considering tax issues arising in a changing world; addressing specific complex areas; and how it can play a greater role in the public debate on tax.
The document also outlines how the OTS will operate, now that it is to become a statutory body in the Finance Bill 2016. It says it will look ahead at changing business and economic structures and set out the new trends and changes in business, employment and other areas that will have an impact on tax, and consider the steps that could make the tax system more straight forward and simpler.
The OTS will undertake reviews on areas integral to these identified trends, as well as specific complex areas affected by the themes which can bring obvious and early benefits, or where there are difficult issues where an informed discussion is required.
It commits to taking the issues and options out for wide discussion and evidence gathering, and will be seeking to encourage simplification to build into tax policy making and implementation early on in the process.
The OTS will also engage closely with HMRC on its digital agenda.
Feedback on the strategy document should be sent to [email protected] Contributions before 30 June will help set the agenda for the conference, but the final feedback deadline is 31 July.
To register to attend the conference contact [email protected]
The OTS high level strategy document is here
