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: how would the tax be collected? Would this be an optional, default or compulsory system? Overall, would this deliver simplification? Click the following link for the consultation page on the Gov.UK website. Comments are due by...