Jul

20

2010

Tax simplification is on the horizon

Category: Employment Law, Taxation and Legislation for Contractors

The complex UK tax laws are to be reformed so that they are no longer difficult or feel like a "spaghetti bowl" to contractors using umbrella companies, according to the chancellor.

George Osborne told the BBC that Britain has one of the most "opaque" and "complex" tax codes in the world and in order to combat this he is going to set up an Office for Tax Simplification to streamline the 11,000 pages of tax code.

"The Office for Tax Simplification will provide important advice that will help inform us in making the right reforms to the tax system that will help to pave the way to bringing more international business to the UK," Mr Osborne said.

FreelanceUK.com recently reported that there had been some confusion over changes to the IR35 legislation and confirmed that some interviews with business minister Mark Prisk had been misleading.ADNFCR-2808-ID-19899171-ADNFCR