CIOT welcomes tax relief review

Date: 4th March 2011

The Chartered Institute of Taxation (CIOT) has welcomed the publication of a tax relief review from the Office of Tax Simplification (OTS).

Vincent Oratore, president of the organisation, said the review is a "good start" from the OTS but claimed there is still work to be done to create a simpler tax system in the UK.

"This is a good start from the OTS. They have produced a solid piece of work. If the chancellor takes up these recommendations, this will be a first step on the road to a simpler tax system," he said.

"While the OTS is carrying out excellent work, there is also a pressing need for improvements in the parliamentary process for scrutinising new and existing tax laws. The CIOT will be continuing to press for improvements in this area, including the setting up of a Joint Committee on Taxation."

The OTS document has called on the government to review inheritance tax and capital gains tax as part of its ongoing simplification process.

Posted by Jacob Williams