On 9 August 2016, HMRC published a consultation, Partnership taxation: proposals to clarify tax treatment (www.bit.ly/2b5A8l5), setting out certain changes to be made to the tax treatment of partnerships. While this highlights a number of administrative changes which could make life easier for HMRC and taxpayers, a couple of the proposals to change substantive tax charges (ostensibly to close loopholes) may have unwanted side effects.
