2nd Report - Research and development tax relief, HMRC data requirements, promoters of tax avoidance and sentencing for tax fraud
- HC No.
- —
- Published
- 1 Feb 2024
- Items
- 0
- Response
- Response document linked Read government response ↗
Select Committee · Finance Bill Sub-Committee
Draft Finance Bill 2023-24
Status: Closed
Opened: 13 Sep 2023
Closed: 3 May 2024
1 report
Inquiry scope
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.Reports
Oral evidence sessions
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| Date | Session and witnesses | Source |
|---|---|---|
| 29 Nov 2023 |
Oral Evidence
Doug Stoneham · HMRC,
Matthew Henty · HM Treasury,
Nigel Huddleston MP · House of Commons,
Zoë Nettlefield · HMRC
|
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| 20 Nov 2023 |
Oral Evidence
Bill Dodwell · Administrative Burdens Advisory Board,
Colin Hailey · UK BioIndustry Association,
Dr Andy Summers · Centre for the Analysis of Taxation (CenTax),
Dr Roger Barker · Institute of Directors (IoD),
Gillian Thomson · Skanska,
Kevin Hart · Business Application Software Developers Association,
Michael Moore · British Private Equity and Venture Capital Association (BVCA),
Mr Joshua Toovey · Association of Independent Professionals & the Self-Employed (IPSE),
Samantha O'Sullivan · Chartered Institute of Payroll Professionals
|
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| 13 Nov 2023 |
Oral Evidence
Adam Craggs · Reynolds Porter Chamberlain LLP,
Benjamin Craig · Ayming UK,
Isobel d'Inverno · Law Society of Scotland,
Justin Arnesen · Evelyn Partners LLP,
Lydia Challen · Law Society of England and Wales,
Mark Davis · ela8 limited
|
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| 23 Oct 2023 |
Oral Evidence
Andrew Harding · AICPA-CIMA,
Dr Emma Rawson · Association of Taxation Technicians (ATT),
Ellen Milner · Chartered Institute of Taxation (CIOT),
Mr Richard Jones · ICAEW (Institute of chartered accountants England and Wales),
Susan Cattell · ICAS
|
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Who gave evidence
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| Witness | Organisation | Sessions |
|---|---|---|
| Adam Craggs · Partner | Reynolds Porter Chamberlain LLP | 1 |
| Andrew Harding · Secretary General CIMA and Chief Executive - Management Accounting AICPA & CIMA | AICPA-CIMA | 1 |
| Benjamin Craig · Associate Director, R&D Tax Incentives | Ayming UK | 1 |
| Bill Dodwell · Member | Administrative Burdens Advisory Board | 1 |
| Colin Hailey · Chair of the Finance and Tax Committee | UK BioIndustry Association | 1 |
| Doug Stoneham · Deputy Director, Counter-Avoidance Policy and Technical | HMRC | 1 |
| Dr Andy Summers · Director | Centre for the Analysis of Taxation (CenTax) | 1 |
| Dr Emma Rawson · Technical Officer | Association of Taxation Technicians (ATT) | 1 |
| Dr Roger Barker · Director of Policy and Corporate Governance | Institute of Directors (IoD) | 1 |
| Ellen Milner · Director of Public Policy | Chartered Institute of Taxation (CIOT) | 1 |
| Gillian Thomson · Group Tax Manager | Skanska | 1 |
| Isobel d'Inverno · Tax Law Sub-Committee Convenor | Law Society of Scotland | 1 |
| Justin Arnesen · Partner, R&D Tax and Government Grants, Business Tax | Evelyn Partners LLP | 1 |
| Kevin Hart · Chief Executive Officer | Business Application Software Developers Association | 1 |
| Lydia Challen · Co-Chair, Tax Committee | Law Society of England and Wales | 1 |
| Mark Davis · Managing Director | ela8 limited | 1 |
| Matthew Henty · Deputy Director, Enterprise and Property Tax | HM Treasury | 1 |
| Michael Moore · Chief Executive | British Private Equity and Venture Capital Association (BVCA) | 1 |
| Mr Joshua Toovey · Senior Research and Policy Officer | Association of Independent Professionals & the Self-Employed (IPSE) | 1 |
| Mr Richard Jones · Senior Technical Manager, Tax Policy | ICAEW (Institute of chartered accountants England and Wales) | 1 |
| Nigel Huddleston MP · Financial Secretary to the Treasury and Member of Parliament for Mid Worcestershire | House of Commons | 1 |
| Samantha O'Sullivan · Policy Lead | Chartered Institute of Payroll Professionals | 1 |
| Susan Cattell · Head of Tax Technical Policy | ICAS | 1 |
| Zoë Nettlefield · Deputy Director, Strategic Data Policy | HMRC | 1 |