Finance Bill Sub-Committee to hear evidence on measures to tackle tax fraud
Friday 20 October 2023
On Monday 23 October the House of Lords Finance Bill Sub-Committee will be taking evidence from two panels of witnesses as part of its new inquiry on the draft Finance Bill 2023-24.
At 4pm the sub-committee will hear evidence from:
- Ellen Milner, Director of Public Policy, Chartered Institute of Taxation (CIOT)
- Susan Cattell, Head of Tax Technical Policy, Institute of Chartered Accountants Scotland (ICAS)
- Richard Jones, Senior Technical Manager, Institute of Chartered Accountants England and Wales (ICAEW).
At 4:45pm the sub-committee will hear evidence from:
- Dr Emma Rawson, Technical Officer, Association of Taxation Technicians (ATT)
- Andrew Harding, Secretary General CIMA and Chief Executive – Management Accounting AICPA & CIMA.
The meeting will be held in Committee Room 4 of the House of Lords. It will also be streamed live on Parliament TV.
About this inquiry
The sub-committee’s inquiry is focussing on 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.
