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The OTS Small Business Tax Review: A Positive Start to Simplify the UK Tax System

The Company Lawyer, Vol. 34, Issue 3. pp 84-91.

8 Pages Posted: 9 Sep 2013 Last revised: 27 Nov 2013

Jingyi Wang

The University of Hong Kong

Date Written: March 1, 2013

Abstract

The interim report of Small Business Tax Review was delivered by the Office of Tax Simplification in March 2011. The reform of the personal service company rules (IR35) and the integration of income tax and National Insurance are now at the top of the tax simplification agenda, with a special focus on benefits on small business. The simplification of the UK tax system cannot be achieved overnight and the barriers may seem insurmountable. Nevertheless, provided the UK government is sufficiently determined, the goal is achievable, albeit on a step by step basis. Based on the OTS interim report, this piece discusses the need to reform the current income tax and National Insurance system, with particular reference to the personal service company rules (IR35).

Keywords: Small Business Taxation, UK, IR35, Tax Simplification

Suggested Citation

Wang, Jingyi, The OTS Small Business Tax Review: A Positive Start to Simplify the UK Tax System (March 1, 2013). The Company Lawyer, Vol. 34, Issue 3. pp 84-91.. Available at SSRN: https://ssrn.com/abstract=2322428

Jingyi Wang (Contact Author)

The University of Hong Kong ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

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