Is basis period reform a genuine tax simplification?
Wednesday 20 October 2021
On Thursday 21 October 2021 the House of Lords Economic Affairs Finance Bill Sub-Committee will take evidence from two panels of witnesses.
These evidence sessions will be streamed live on Parliament TV and are part of the committee’s inquiry on the draft Finance Bill 2021-22.
The first session will begin at 4.15pm. Giving evidence will be:
- Malcolm Gammie QC, Chair, Tax Law Review Committee
- Bill Dodwell, Tax Director, Office of Tax Simplification.
The second session will begin at 5.15pm. Giving evidence will be:
- Rebecca Benneyworth, Member, Administrative Burdens Advisory Board
- Andrew Chamberlain, Director of Policy, Association of Independent Professionals and the Self-Employed
- Mike Cherry OBE, National Chair, Federation of Small Businesses.
Topics the committee is likely to cover in these sessions include:
- How basis period reform, Making Tax Digital for income tax, the call for evidence on timely payments and OTS’ study on changing the tax year end fit together.
- The delay to the timetable for both Making Tax Digital for income tax and basis period reform.
- If basis period reform would represent an overall simplification.
- The transitional provisions for basis period reform.
- Whether basis period reform will make the UK a less attractive place to do business.
The committee’s inquiry on the draft Finance Bill is focussing on two areas of the draft Bill:
- proposals for income tax basis period reform
- notification by large businesses of uncertain tax treatment.
Click here for more information.
Last week the committee took evidence from: Susan Cattell, Head of Tax Technical Policy, Institute of Chartered Accountants of Scotland; Richard Jones, Business Tax Manager, Institute of Chartered Accountants in England and Wales; Emma Rawson, Technical Officer, Association of Taxation Technicians; Jason Piper, Head of Tax and Business Law, Association of Chartered Certified Accountants; Sharron West, Technical Officer, Low Incomes Tax Reform Group; and Richard Wild, Head of Tax Technical, Chartered Institute of Taxation. You can watch the session back on Parliament TV.
