Office of Tax Simplification (OTS)
The OTS will be established on a statutory basis as a permanent
office of HM Treasury. The government will commission the OTS to
review the closer alignment of income tax and national insurance
contributions, and to review the taxation of small companies.
Self-employed national insurance contributions
The government will consult in autumn 2015 on abolishing class 2
NICs and reforming class 4 NICs.
Employee benefits and expenses
A statutory exemption for trivial benefits-in-kind costing less than
£50 will be introduced from April 2016.
Travel and subsistence expenses
A discussion paper has been published, outlining a potential
framework for new rules for the tax treatment of travel and
subsistence expenses, following a report by the OTS.
Simplified expenses –partnerships
The simplified expenses regime will be amended to ensure that
partnerships can fully access the provisions in respect of the use
of a home and where business premises are also a home.
The government will consult on the tax and NIC treatment of
termination payments to make the system ‘simpler and fairer’.
Consortium link company rule
As announced in the Autumn Statement 2014, the government
has removed all the requirements relating to the location (UK or
elsewhere) of the ‘link company’ for consortium claims to group
relief with effect from 10 December 2014.
Tax administration for individuals and small businesses
The government will publish a roadmap by the end of the year
showing how it will transform tax administration for individuals
and small businesses over this parliament.
8 JULY 2015