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Draft Finance Bill 2023-24

Inquiry

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 four areas within the draft Finance Bill 2023-24.

The measures dealing with the promoters of tax avoidance and increasing the maximum prison term for tax fraud, are two separate measures which aim to crack down on tax fraud by dealing with the most persistent and determined promoters of tax avoidance and discouraging egregious tax practices.

The reforms which merge the two existing Research and Development (R&D) schemes as well as providing tax relief for R&D intensive SMEs, propose a single R&D relief and a higher rate of payable tax credit for loss-making R&D intensive SMEs. The measure aims to simplify the tax system and provide further support to R&D intensive SMEs.

The measure which requires certain taxpayers to provide additional data to HMRC aims to improve the quality of data collected by HMRC to provide better outcomes for taxpayers and businesses, as well as improving compliance.

This inquiry is no longer accepting evidence

The deadline for submissions was Friday 6 October 2023.

Upcoming events

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No upcoming events scheduled

Past events

Wednesday 29 November 2023
10:30am Private
10:45am Public
Draft Finance Bill 2023-24 - Oral evidence 29 November 2023
10:45am
  • Nigel Huddleston (Financial Secretary to the Treasury and Member of Parliament for Mid Worcestershire at House of Commons)
  • Doug Stoneham (Deputy Director, Counter-Avoidance Policy and Technical at HMRC)
  • Matthew Henty (Deputy Director, Enterprise and Property Tax at HM Treasury)
  • Zoë Nettlefield (Deputy Director, Strategic Data Policy at HMRC)
Palace of Westminster
Monday 20 November 2023
4:00pm Private
4:15pm Public
Draft Finance Bill 2023-24 - Oral evidence 20 November 2023
4:15pm
  • Colin Hailey (Chair of the Finance and Tax Committee at UK BioIndustry Association)
  • Dr Roger Barker (Director of Policy and Corporate Governance at Institute of Directors)
  • Michael Moore (Chief Executive at British Private Equity and Venture Capital Association (BVCA))
  • Gillian Thomson (Group Tax Manager at Skanska)
5:15pm
  • Dr Andy Summers (Associate Professor of Law at London School of Economics (LSE))
  • Bill Dodwell (Member at Administrative Burdens Advisory Board)
  • Kevin Hart (Chief Executive Officer at Business Application Software Developers Association)
  • Samantha O'Sullivan (Policy Lead at Chartered Institute of Payroll Professionals)
  • Mr Joshua Toovey (Senior Research and Policy Officer at Association of Independent Professionals & the Self-Employed (IPSE))
Room 2, Palace of Westminster
Monday 13 November 2023
4:00pm Private
4:15pm Public
Draft Finance Bill 2023-24 - Oral evidence 13 November 2023
4:15pm
  • Lydia Challen (Co-Chair of the Tax Law Committee at Law Society of England and Wales)
  • Isobel d'Inverno (Tax Law Sub-Committee Convenor at Law Society of Scotland)
  • Adam Craggs (Partner at Reynolds Porter Chamberlain LLP)
5:15pm
  • Mark Davis (Managing Director at ela8 limited)
  • Justin Arnesen (Partner, R&D Tax and Government Grants, Business Tax at Evelyn Partners LLP)
  • Benjamin Craig (Associate Director, R&D Tax Incentives at Ayming UK)
Room 4, Palace of Westminster
Monday 23 October 2023
4:00pm Private
4:05pm Public
Draft Finance Bill 2023-24 - Oral evidence 23 October 2023
4:05pm
  • Ellen Milner (Director of Public Policy at Chartered Institute of Taxation (CIOT))
  • Susan Cattell (Head of Tax Technical Policy at ICAS)
  • Mr Richard Jones (Senior Technical Manager, Tax Policy at ICAEW (Institute of chartered accountants England and Wales))
4:50pm
  • Dr Emma Rawson (Technical Officer at Association of Taxation Technicians (ATT))
  • Andrew Harding (Secretary General CIMA and Chief Executive - Management Accounting AICPA & CIMA at AICPA-CIMA)
Room 4, Palace of Westminster

Contact us

  • Email: financebill@parliament.uk
  • Phone: 020 7219 6225 (committee staff) | 020 7219 6640 (Press Officer)
  • Address: Economic Affairs Finance Bill Sub-Committee, House of Lords, London SW1A 0PW