In the OTS Small Company Taxation review, the idea of a lookthrough basis of taxation for small companies was considered.
We noted the potential simplification for a specific set of companies and recommended further exploration. Additional work was carried out and a discussion paper was published on 18 July 2016 to develop the idea further and seek additional comment through wider consultation.
The consultation period ended on 12 September 2016 and we have now had the opportunity to consider the feedback received.
Today we are publishing the report of our findings along with our final conclusion on the potential for lookthrough taxation to provide a viable simplification for small companies.