Alongside publishing the scoping details for a review of its work for the next five years, the Office of Tax Simplification (OTS) has released new papers on the role of agents and other intermediaries, the operation of the PAYE system, and the scope of a forthcoming review of property income:
Tax agents and other intermediaries: the update notes that HMRC has appointed a senior official to lead engagement with the ‘agent profession’ and is setting up a new ‘Intermediaries Directorate’. The OTS would like to see a roadmap for how HMRC intends to develop its agent strategy, ensuring that agent access to data is ‘built into the policy and design of all new systems’. The update also touches on high-volume agents and raising standards in the tax advice market.
Improving the operation of the PAYE system: a key priority for HMRC is ‘to ensure there is the commitment and funding to sustain continuous improvement and development of the PAYE system and to enable the effective operation of the single customer account in relation to PAYE as well as other areas of tax’. The OTS would also welcome wider engagement with payroll and tax professionals and improvements to the single customer account.
Review of property income: the review will identify opportunities for simplification of the tax and administrative treatment of individuals, partnerships or micro-companies deriving income from residential property. The review will consider ‘the rationale for the similarities and differences between the treatment of property and trading income, and income from other investments, and related rules in other taxes’. The OTS will publish a call for evidence ‘in the near future’.
Alongside publishing the scoping details for a review of its work for the next five years, the Office of Tax Simplification (OTS) has released new papers on the role of agents and other intermediaries, the operation of the PAYE system, and the scope of a forthcoming review of property income:
Tax agents and other intermediaries: the update notes that HMRC has appointed a senior official to lead engagement with the ‘agent profession’ and is setting up a new ‘Intermediaries Directorate’. The OTS would like to see a roadmap for how HMRC intends to develop its agent strategy, ensuring that agent access to data is ‘built into the policy and design of all new systems’. The update also touches on high-volume agents and raising standards in the tax advice market.
Improving the operation of the PAYE system: a key priority for HMRC is ‘to ensure there is the commitment and funding to sustain continuous improvement and development of the PAYE system and to enable the effective operation of the single customer account in relation to PAYE as well as other areas of tax’. The OTS would also welcome wider engagement with payroll and tax professionals and improvements to the single customer account.
Review of property income: the review will identify opportunities for simplification of the tax and administrative treatment of individuals, partnerships or micro-companies deriving income from residential property. The review will consider ‘the rationale for the similarities and differences between the treatment of property and trading income, and income from other investments, and related rules in other taxes’. The OTS will publish a call for evidence ‘in the near future’.
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