The Office of Tax Simplification has recommended several ‘short-term fixes’ in an interim report on the taxation of partnerships. The capital gains statement of practice D12 should be ‘tidied up’, the OTS suggested, and in the longer term consideration should be given to measures to reduce administrative burdens faced by small partnerships, including the possible removal of the partnership return.
The Office of Tax Simplification has recommended several ‘short-term fixes’ in an interim report on the taxation of partnerships. The capital gains statement of practice D12 should be ‘tidied up’, the OTS suggested, and in the longer term consideration should be given to measures to reduce administrative burdens faced by small partnerships, including the possible removal of the partnership return.
