R&D tax relief inquiry: business representative bodies to give evidence to Finance Bill Sub-Committee
Friday 4 November 2022
On Monday 7 November 2022 the House of Lords Finance Bill Sub-Committee’s inquiry on reforms to Research and Development (R&D) Tax Relief in the draft Finance Bill 2022-23 will take evidence from business representative bodies.
At 4pm the Sub-Committee will hear from:
- Chris McDonald, Policy Chair for Innovation and Enterprise, FSB (Federation of Small Businesses) / Chief Executive Officer at the Materials Processing Institute
- Alice Jeffries, Head of Tax Policy, CBI (Confederation of British Industry)
- Kitty Ussher, Chief Economist, IoD (Institute of Directors).
The meeting will be held in Committee Room 4 of the House of Lords. It will also be streamed live on Parliament TV.
Topics the Sub-Committee is likely to cover in these sessions include:
- The effectiveness of R&D relief in encouraging investment.
- Scope for simplifying R&D relief.
- Abuse of R&D relief.
- R&D relief awareness levels among smaller businesses.
- Lessons the UK could learn from the tax systems of countries with a better record of encouraging investment in R&D.
- Likely effectiveness of the Government’s proposals in tackling the R&D relief abuse.
- The new requirement to give advance notification of R&D claims.
- Helpfulness of HMRC and BEIS guidance in interpreting and applying R&D relief.
