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The Chancellor of the Exchequer has written to the Office of Tax Simplification (OTS) responding to their recommendations on the alignment of income tax and National Insurance contributions which were made in their reports published in March and November 2016.

This letter thanks the OTS for their work in this space and details the recommendations which the Chancellor has decided to take forward.

Jane Ellison MP, the Financial Secretary to HM Treasury, has also written to the OTS to respond to their other reviews published this autumn.

This letter includes responses to the two small business taxation follow-up reviews that the OTS has carried out on lookthrough taxation and a new business model for the self-employed. The letter also proposes two new areas of work for the OTS, on aspects of VAT and on how Stamp Duty is applied with regards to share transactions.

For tailored advice on how to best manage your personal and business finances, get in touch with us today and find out about how CBHC can help you do more with your money.

Get in touch with us today to find out more about how CBHC can help you with your business.