R&D tax relief inquiry: Financial Secretary to the Treasury to give evidence
Friday 22 November 2022
At 4pm on Monday 21 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 Victoria Atkins MP, Financial Secretary to the Treasury.
She will be joined by:
- Nicole Newbury, Director, Wealthy and Mid-sized Business Compliance, HMRC
- Matthew Henty, Deputy Director, Enterprise and Property Tax, HM Treasury
- Tessa Robins, Deputy Director, CT Innovation & Growth, Business, Assets & International, HMRC.
The meeting will be held in Committee Room 4a 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:
- Whether R&D reliefs lead to increased UK economic growth.
- Why HMRC was slow to act when the number of R&D claims, the cost of the relief, and the revenue lost to fraudulent and spurious claims, began to rise sharply.
- Impact of the requirements for pre-notification of claims and endorsement by a senior officer of the company.
- The significant concern caused by Fraud Investigation Service letters.
- Increasing awareness of R&D relief among SMEs.
- Improvements needed to BEIS and HMRC guidance on R&D.
