An Office of Tax Simplification (OTS) project is considering easier ways for the self-employed and landlords of private residential property to report their taxable income and pay their tax.
The OTS has produced two short online surveys to gather information about people’s experience and views on the current system and potential areas of improvement. The surveys will remain open until 20 September 2019. Details of the project are available in a Scoping paper: simplification of tax reporting and payment arrangements for the self-employed.
There is a further opportunity to provide input to this project via a Tax Faculty webinar on 19 September 2019. The webinar, which is free to everyone, will be hosted by Anita Monteith who will be joined by representatives from the OTS.
This project may prove to be the start of significant changes to the tax system as it affects the self-employed and landlords and has obvious links with MTD for income tax. The Tax Faculty would like to encourage wide participation by members and their clients.