Q&A on the latest Office of Tax Simplification reports

John Whiting CBE

John Whiting, tax director of the Office of Tax Simplification, comments on the major issues arising from recent OTS recommendations.

The Office of Tax Simplification (OTS) published two major reports during January – final reports on pensioners’ taxation and on unapproved share schemes (see www.hm-treasury.gov.uk/ots.htm). Both reports contain a range of technical and administrative recommendations; both build on earlier reports that are already making a difference:

Tax advantaged (‘approved’) share schemes – many of the recommendations are in the current draft Finance Bill;
Pensioners’ interim report – HMRC’s steady progress to date on many administrative aspects are reported on in Annex A of the new report.

The main recommendations

On unapproved share schemes:

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John Whiting, tax director of the Office of Tax Simplification, comments on the major issues arising from recent OTS recommendations.

Tax advantaged (‘approved’) share schemes – many of the recommendations are in the current draft Finance Bill;
Pensioners’ interim report – HMRC’s steady progress to date on many administrative aspects are reported on in Annex A of the new report.