Pension tax and share schemes to be simplified

The Office of Tax Simplification is looking at pensioners’ tax and share schemes.

The OTS will be reviewing the complexities faced by pensioners, especially those on low incomes and with earnings from several sources.

The OTS was set up in July 2010 to provide expert advice to the Chancellor on ways of improving the UK’s tax system.

So far, it has conducted two reviews on simplifying tax reliefs and small business taxation.

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