On 3 July 2017, The UK Office of Tax Simplification (OTS) published and laid before parliament its report on the simplification of the Corporation Tax computation. The report includes seven main simplification recommendations: Build a five-year Corporation Tax Roadmap, alongside the Business Tax Roadmap, to include a commitment on earlier and more open consultation; For the smallest companies: simple accounts = simple tax: FRS 105 adopters, tax to follow accounts; otherwise A minimum number of essential tax adjustments to accounting profit; Align capital / revenue tax definitions with accounting definitions; Align definitions between management expenses and trading deductions; Replace the...