Source: HMRC Press Release 3 July 2017
The Office of Tax Simplification (OTS) has responded to calls for UK Corporation Tax to be modernised and simplified in its report Simplification of the Corporation Tax Computation published 3 July 2017.
The report looks at four broad themes
- simpler tax for smaller companies
- aligning the tax rules more closely with accounting rules where appropriate
- simplifying tax relief for capital investment
- a range of further issues affecting the largest companies