The Professional Contractors Group (PCG) PCG and other have welcomed the launch of the Office of Tax Simplification (OTS) announced by the Exchequer Minister David Gauke MP at the Treasury on Tuesday 20th July.
The OTS is made up of independent experts and will make recommendations to Government on simplifying the tax system. The setting up of this body had been promised in the Budget and PCG is delighted that the Government has been so prompt in making good on this commitment.
The OTS, as part of their review into small business taxation, will be tasked with identifying fairer alternatives to IR35.
IR35 was introduced by the last Government as a so-called anti-avoidance measure; however it has been widely condemned by the freelance and contracting community for its extraordinary complexity and unfairness. The PCG in particular was originally formed as a response to IR35 and has campaigned hard on this issue ever since.