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Budget 2011: the simplifying Budget?

As Tax Journal readers know, the OTS recently delivered two major reports to the Chancellor. Our brief was to make recommendations that would simplify the tax system; it’s up to the Chancellor which to take forward.

As Tax Journal readers know the OTS recently delivered two major reports to the Chancellor. Our brief was to make recommendations that would simplify the tax system; it’s up to the Chancellor which to take forward.

The mention of the OTS in the Chancellor’s speech was naturally very pleasing (wasn’t there a loud ‘hear hear’ as well?). Our reliefs report has led to a commitment to abolish 43 of the reliefs we analysed. That represents about 100 pages of legislation which may not be much compared to the total but it’s a start.

Both reports played a part in what was arguably one of the most far-reaching of the Chancellor’s announcements...

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