Finance Bill Sub-Committee launch call for evidence
13 September 2023
The House of Lords Finance Bill Sub-Committee today invites contributions to its inquiry on the draft Finance Bill 2023-24.
The Finance Bill Sub-Committee is appointed annually by the Economic Affairs Committee to consider the draft Finance Bill from a tax administration, clarification, and simplification point of view.
The Sub-Committee will inquire into the following areas within the draft Finance Bill 2023-24:
- The measures dealing with promoters of tax avoidance and increasing the maximum prison term for tax fraud;
- The reforms which merge the two existing Research and Development (R&D) schemes as well as providing tax relief for R&D intensive SMEs;
- The measure requiring certain taxpayers to provide additional data to HMRC.
The Sub-Committee is seeking to understand how the measures listed above will impact various taxpayers and companies and is particularly interested in hearing about the views of SMEs.
Timeline
The deadline for the submission of written evidence is 6 October 2023.