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New OTS reviews and strategy paper

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The Office of Tax Simplification has published the terms of reference for its next set of reviews, covering the corporation tax computation and the second phase of its review of income tax and NICs.

·       Corporation tax computation: This will look at the elements that make up the corporation tax computation. It will consider the potential for reducing adjustments between accounting profit and corporation tax profit; and also examine the extent to which the main categories of income still fit current business and tax policy priorities. The OTS aims to provide an update before Autumn Statement 2016, with a final report for Budget 2017. See

·       Further review of income tax and NICs: This includes two further reviews of the potential for closer alignment of income tax and NICs, following the initial report in March 2016. The new reviews will cover: moving employee NICs to an annual, cumulative and aggregated basis; and making employer NICs a payroll-based charge. The OTS aims to deliver a report before Autumn Statement 2016. See

The OTS has also published its high level strategy document, Simplifying tax for the future, as it prepares to become a statutory body with a new and broader remit. The document contains a number of specific questions on which comments are invited by 30 June, although the OTS will accept submissions until 31 July. See

Issue: 1309
Categories: News