8. Office of Tax Simplification (OTS) Review
The OTS published their final report on 3 March 2011, recommending the abolition of a number of reliefs. Finance Bill 2011 will remove some reliefs that have no further use, are poorly targeted or are administratively burdensome. Further reliefs will be abolished in future Finance Bills.
This exercise will start the process of tidying UK tax legislation, but is unlikely to have a significant impact on most taxpayers’ affairs.