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UK Consultation on Look-through Basis of Taxation

|Proposed Changes|United Kingdom
United Kingdom

The UK Office of Tax Simplification (OTS) has issued a discussion paper for consultation on a look-through basis of taxation for small companies. The paper seeks input on five main issues:

  • Who would look-through apply to (or be available for); is it possible to define easily the affected taxpayers?
  • How would it apply: how would profits be allocated to proprietors?
  • What tax consequences ensue: …

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