A Shropshire accountant has welcomed the Government's decision to simplify the UK tax system for both businesses and individual taxpayers.

Helen Thomas, of Dyke Yaxley Chartered Accountants, in Shrewsbury said the new Office of Tax Simplification (OTS) was designed to streamline the system.

"Its aim is to reduce the burden on all taxpayers, which can only be good news, and we're looking forward to the changes it will introduce."

Helen said the new office would analyse tax relief, allowances and exemptions, and review the business taxation rules to make them less complicated.

"The organisation will produce two reports - one which will review all 400 tax reliefs in the tax system to identify any that should be repealed, and the other on making life simpler for small businesses.

"And although its responsibilities include UK taxes and duties managed by HM Revenue and Customs, it does not deal with tax credits or taxes administered by other organisations. It won't have any influence on setting tax rates either.

"This is an interesting approach by the Government to help both businesses and individuals at a time when the economy is just starting to show signs of recovery.

"At Dyke Yaxley, we are committed to helping our customers navigate their way through the minefield of tax legislation, and so any moves to simplify the system are a welcome change of direction."

The Office of Tax Simplification will be run by the former Treasury Minister Michael Jack, and the Chartered Institute of Taxation's Director, John Whiting.