§ Mr. Richard Shepherdasked the Chancellor of the Exchequer whether it remains his intention to issue a consultative document in the current year on the tax treatment of partnerships.
§ Mr. RidleyAs already announced, the Inland Revenue is undertaking a preliminary study of possible ways of improving the present schedule D arrangements, including the present basis of and rules for assessment. This study will take account, inter alia, the exploitation of the present schedule D rules by partnerships, to which the Committee of Public Accounts has drawn attention in recent reports. We have indicated that before any substantial changes are introduced in this area, there will be very full consultation and careful consideration of the possible effects on businesses. In these circumstances, I have decided that it would be sensible to await the outcome of this wider study of possible changes to the present system before publishing a document on partnership aspects.