Tax rewrite project completed

Date: 20th November 2009

The government has published two new bills which could change the usability of the tax laws currently faced by sole traders, partnerships and other small businesses.

According to the Treasury, the "majority" of direct tax laws will have been rewritten once the Corporation Tax Bill and the Taxation (International and Other Provisions) Bill enter UK law.

Stephen Timms, financial secretary to the government department, added that the publications mark the completion of a 13-year project to update the laws.

One of the main aims behind the rewriting process is to make the legislation more user-friendly for tax professionals.

This includes the use of "plain language" and a more "logical structure".

However, none of the tax policies themselves has been changed.

Mr Timms added: "This would not have been possible without the expertise, time and commitment of all those involved in commenting on the provisions during consultation and I would like to thank them and the members of the Tax Law Rewrite project's Steering and Consultative Committees for their invaluable help in making the project's work such a success."

Posted by Jacob Williams