On 1 November 2016, the UK Office of Tax Simplification (OTS) issued a progress report and call for evidence on simplifying the Corporation Tax computation. The report covers the main areas identified where simplification could be considered, and where there is potential for reducing the differences between accounting profit and tax profit, including: The many adjustments between accounting profit and CT profit: burden vs. value; Ways of relieving or incentivizing capital expenditure: complexity and certainty; The ‘Schedular’ system – including whether the distinction between trading and investment companies is still relevant, and the extent to which capital gains are paid...