Government officials appear before Lords Committee
1 June 2009 (updated on 22 April 2010)
Representatives from HM Treasury and HM Revenue & Customs appear before the House of Lords Economic Affairs Committee’s Sub-Committee on the Finance Bill at 3.35 pm as it continues to look at aspects of the 2009 Finance Bill
- Video and Audio: Finance Bill evidence session
- House of Lords Economic Affairs Sub-Committee on the Finance Bill
- Bills before Parliament: Finance Bill
- Parliament News: Chancellor makes Budget statement
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.