Its provisional recommendations, following a review of 13 reliefs, include abolition of vaccine research relief, the exemption from an income tax benefit charge for late night taxis and the 15p exemption for luncheon vouchers.
On the basis of the criteria used for the initial review, the OTS would recommend retaining capital gains tax relief on disposal of a private residence; income tax relief for repair and maintenance of work equipment; and income tax relief for players in the UEFA Champions League Final 2011.
‘We are primarily requesting comments on whether our methodology is appropriate, and whether there are any additional or alternative criteria that should be used in the final report,’ the OTS said.
‘We recognise that, operating in an imperfect world, we cannot lose complexity altogether and that, no matter how simple the legislation is, complexity will arise in its implementation.’
The final report will be published, with recommendations to the Chancellor, by Budget 2011.
Its provisional recommendations, following a review of 13 reliefs, include abolition of vaccine research relief, the exemption from an income tax benefit charge for late night taxis and the 15p exemption for luncheon vouchers.
On the basis of the criteria used for the initial review, the OTS would recommend retaining capital gains tax relief on disposal of a private residence; income tax relief for repair and maintenance of work equipment; and income tax relief for players in the UEFA Champions League Final 2011.
‘We are primarily requesting comments on whether our methodology is appropriate, and whether there are any additional or alternative criteria that should be used in the final report,’ the OTS said.
‘We recognise that, operating in an imperfect world, we cannot lose complexity altogether and that, no matter how simple the legislation is, complexity will arise in its implementation.’
The final report will be published, with recommendations to the Chancellor, by Budget 2011.
