Tax report timescale unveiled by OTS

Date: 17th February 2011

Small business operators and contractors operating in the UK could be among those interested in the recent comments of one tax expert.

John Whiting, director of the government's Office of Tax Simplification (OTS), has confirmed that the initial report covering the office's review of the UK's tax system will be published ahead of the Budget in March, ContractorUK reported.

However, the expert told the news publication that contractors will have to wait for a subsequent report to learn more about a replacement to the IR35 tax legislation.

The controversial rules are being looked at as part of the review, but Mr Whiting said that the proposals need "bottoming out" before any concrete announcements can be made.

"Bottoming out [its] implications will continue post-Budget, ahead of our final report [in the summer]," he explained.

"On IR35, we want to come up with recommendations for improving what is generally agreed to be an administratively burdensome regime. Post-Budget we will be following up … towards a final report in the summer."

Posted by Thomas Fletcher