Policy paper

Partnerships review

All material relating to the OTS partnerships review, including our final report

• From: Office of Tax Simplification
• Published: 10 July 2013
• Last updated: 19 January 2015 — See all updates

Documents

Review of partnerships: final report

PDF, 445 KB, 62 pages

Review of partnerships: update and call for evidence

Ref: ISBN 978-1-910337-22-6, PU1687

PDF, 152 KB, 24 pages

Review of partnerships: interim report

Ref: ISBN 978-1-909790-70-4, PU1619

PDF, 523 KB, 82 pages

Partnerships review: terms of reference

PDF, 424 KB, 2 pages

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Details

Read the letter from David Gauke MP to the OTS that announced this review.

On 22 January 2014, the OTS published an interim report setting out the key areas of complexity faced by partnerships. The Exchequer Secretary to the Treasury responded to this report at Budget 2014.

Read the letter from David Gauke MP to the OTS on 19 March 2014.

The OTS has published a call for evidence today (25 July 2014), which also gives an update on progress made by HMRC on implementing some of the OTS’s short-term recommendations.

The call for evidence will explore how to develop the medium and long-term areas set out by the OTS in the interim report, including developing education for the smallest partnerships, whether partners should be able to include partnership expenses on their personal returns, and how best to reduce difficulties surrounding stamp taxes and double taxation treaties.

The OTS has now published its final report on partnerships taxation (19 January 2015). The report makes 14 further recommendations including clear and comprehensive guidance for new partnerships, allowing partners to claim their own expenses, simpler HMRC administration for international partnerships, and extending gift aid to partnerships.

As ever we would be interested in any feedback.

Contact us

Published 10 July 2013
Last updated 19 January 2015 + show all updates

1. 19 January 2015

   Updated to include final review

2. 25 July 2014

   Update and call for evidence published

3. 22 January 2014

   Interim report published

4. 10 July 2013

   First published.