R&D tax relief inquiry: sector bodies and tax advisory firms to give evidence
Friday 11 November 2022
On Monday 14 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 sector bodies and tax advisory firms.
At 4pm the Sub-Committee will hear from:
- Neil Ross, Associate Director, techUK
- Colin Hailey, Chair of the Finance and Tax Advisory Committee, BioIndustry Association (BIA)
- Dr Joe Marshall, CEO at the National Centre for Universities and Business (NCUB).
At 4.45pm the Sub-Committee will hear from:
- Jenny Tragner, Director and Head of Policy, ForrestBrown
- Nigel Holmes, Director of Tax, Catax.
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:
- Importance of R&D relief to businesses.
- Lessons the UK could learn from the tax systems of countries with a better record of encouraging investment in R&D.
- Whether changes to the definition of R&D have gone far enough to modernise it.
- Helpfulness of HMRC and BEIS guidance in interpreting and applying R&D relief.
- Advantages and disadvantages of having two schemes for R&D relief.
- Scope for simplifying R&D relief.
- Likely effectiveness of the Government’s proposals in tackling the R&D relief abuse.
