David Whiscombe looks forward to the Autumn Statement and ongoing work by the Office of Tax Simplification
All promises to be fairly quiet on the consultations front over the next few weeks presumably as HMRC resource is directed towards the Autumn Statement on 4 December. However the Office of Tax Simplification continues to trundle on. One of its current projects is a review of partnership taxation announced in July but still open for comment. It aims to identify the main complexities and recommend priority areas for a more detailed review leading to specific recommendations. The areas raised with OTS so far are understood to have covered a wide range of matters including: the treatment of partnership expenses borne by partners; the denial of some reliefs (specifically AIA) to partnerships which include a...
