OTS Calls for Review of PAYE System

In a new report, the Office of Tax Simplification (OTS) has called for the Pay as You Earn (PAYE) system to be reviewed, to ensure tax agents can 'see relevant client information' and 'access a number of key services'. The report suggested that tax agents 'don't always have full access to their clients' PAYE records'. … Continue reading OTS Calls for Review of PAYE System

OTS Publishes Review into Simplifying the Taxation of Savings Income

The Office of Tax Simplification (OTS) recently published a detailed review into the taxation of savings income. The OTS’s stated aim was to review the application of the tax system to savings and investment income, and highlight ways in which any ‘real complexities’ can be removed. Within the report, nine areas for further development were … Continue reading OTS Publishes Review into Simplifying the Taxation of Savings Income

AAT States Inheritance Tax Is ‘Unnecessarily Complicated’

The Association of Accounting Technicians (AAT) has stated that inheritance tax (IHT) is ‘unnecessarily complicated’ and ‘widely misunderstood’. Responding to a review of the tax by the Office of Tax Simplification (OTS), the AAT said that several IHT exemptions ‘could be scrapped’. It argues that certain exemptions, such as gifts on marriage and gifts to … Continue reading AAT States Inheritance Tax Is ‘Unnecessarily Complicated’