Rachel Vahey: Working through the tax allowance maze

The Office of Tax Simplification (OTS) is a busy place these days. It is currently having a good hard look at inheritance tax and asking how to simplify the convoluted tangle of rules and allowances. Still, not content with taking on that behemoth, it has also turned its attention to the taxation of savings income. In late May, it published a paper performing a comprehensive sweep of the various ways savings income is taxed and focusing on the complexities the ordinary person encounters every day. There is little doubt ironing out some of these intricacies would be a positive step forwar...