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Lords Committee continues scrutiny of Finance Bill

20 May 2009 (updated on 22 April 2010)

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Representatives from the Royal Institute of Chartered Surveyors and the National Association of Pensions Funds appear before the House of Lords Economic Affairs Committee’s Sub-Committee on the Finance Bill at 3.50 pm as it continues to look at aspects of the 2009 Finance Bill

Giving evidence to the Committee at 3.50pm will be:

  • The British Property Federation
  • Rosalind Rowe, Royal Institute of Chartered Surveyors

Giving evidence at 4.30pm will be:

  • Maggie Craig, Association of British Insurers
  • Joanne Segars, National Association of Pension Funds
The Committee is formed each year following the Budget to look in detail at aspects of the Finance Bill - which enacts many of the measures announced by the Chancellor of the Exchequer - related to tax administration, clarification and simplification.

This year it is looking at the following elements of the Finance Bill:

  • The provisions for changes in taxation regime for foreign profits.
  • The provisions affecting Real Estate Investment Trusts (REITS) – The Committee will also look at the experience of the effect of the legislation since it was introduced in 2007.
  • Restrictions on tax relief for pensions, mainly the process leading to their introduction and the anti-forestalling provisions in the Finance Bill.

The Lords Economic Affairs Committee has, since 2003, formed an annual sub-committee to look in detail at selected aspects of the Finance Bill. These inquiries address technical issues of tax administration, clarification and simplification rather than rates or incidence of tax.

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