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The OTS was established in 2010 to be an independent office of HM Treasury to make recommendations on how to simplify tax in the UK. The 2016 Finance Act places the OTS on a permanent statutory basis and the strategy consultation document we issued in May set out, and sought views on, how the OTS might develop and operate as we embark on this new chapter as a statutory body.
To deliver our strategy we said we planned to:
set out how new trends and changes in business and employment (such as the sharing economy) will impact on tax
consider how to make tax simpler given these changes to the world of work
review areas integral to these trends and identify difficult issues where an informed discussion is required
take the issues and options out for wide discussion and evidence gathering
encourage simplification to be built into tax policy making and implementation early on in the process
engage closely with HMRC on its important digital agenda
As is our approach with the individual projects that we work on, we sought engagement and representations from all interested parties.
We have been delighted with the level of engagement with this consultation, both through written responses and at a well-attended stakeholder event in July, and would like to warmly thank everyone who has contributed.
In the summary of responses document our main purpose is to ‘report back’ and offer an initial response to the main comments, observations and suggestions that have so helpfully been made. It’s our intention to develop our strategy further with our new Board members, and our new Tax Director (when appointed), and to publish a further, more definitive document, taking account of all the input, in due course.
Meantime, if this document prompts further thoughts from those who have already commented, or indeed from others, then - as ever - we’d be very pleased to receive them. Please contact us at email@example.com