The regulators in UK are considering a tax cut measure, in order to elevate the investments from foreign Companies. The Chancellor is soon going to set up an Office for Tax Simplification.

Treasury Minister, David Gauke, will be proclaiming the possible measures tomorrow, which can bring in a simplification in the tax regime.

The office will be responsible for deciding as well as providing the allowances, discharge and tax reliefs to the investors, as per the new set of regulations.

Michael Jack will be chairing the new office, with John Whiting in the role of the Director. Both the officers will be working unpaid.

OTS will be expected to provide two reports, to be sent to chancellor within the next one year, one assessing the tax reliefs in the autumn season and the other reviewing the business taxes ahead of the budget declaration for spring.

George Osborne has been urging the evasion of tax reliefs. He, however, accepts that the undue addition of the 11000 pages in tax code during the Labor Government has generated a lot of confusion.

"The previous government made up tax policy on the hoof. They set up a new tax, which had to be corrected. Then there were avoidance issues", said a source from Treasury.