The Office of Tax Simplification (OTS) was established in July 2010 with the brief of carrying out review in order to provide the Chancellor with expert advice on how to improve the tax system.
As part of their work, the OTS is carrying out a review into all the tax reliefs, allowances and exemptions for businesses and individuals across all the taxes administered by HMRC. The OTS has been asked by the Chancellor to identify those reliefs that should be either repealed or simplified to provide a simpler tax system.
As the first part of this review, the OTS have produced a list of all 1042 tax reliefs in the current UK tax system. The list is available to download from the HM Treasury website.
Further details on the work of the OFT and the review of tax reliefs is also available on the HM Treasury website.