Simplification of the Corporation Tax computation

ACCA comments on proposals issued by the Office of Tax Simplification (OTS) on the Simplification of the Corporation Tax computation.

ACCA strongly supports the OTS' work on simplifying the corporation tax system. In particular, we welcome the cost-benefit approach to identifying potential areas for reform in this progress report. Our engagement with tax practitioners and experts on our Global Forum for Taxation has led us to conclude that tax simplicity is a fundamental principle in the design of any tax system.

An outline of our key positions is set out below. We would be pleased to engage further with the OTS on this topic, to discuss in detail specific reforms which should be considered.