Lexicon

Term of the day

Office for Tax Simplification OTS

The Office for Tax Simplification (OTS) was established in 2010 for the life of that current Parliament, to give independent advice to the Government on simplifying the tax system, thereby reducing the compliance burden on business and individual taxpayers. The OTS undertakes in depth, evidence-based reviews on complex areas of the tax system and advises the Government on options for reform.[1]