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Draft Finance Bill 2022-23

Inquiry

The Finance Bill Sub-Committee is appointed annually by the Economic Affairs Committee to consider the draft Finance Bill from a tax administration, clarification, and simplification point of view.

The Research and Development (R&D) Tax Relief reforms, published by the Government in the draft Finance Bill 2022-23, aims to incentivise business investment, extend the scope of qualifying expenditures to include the costs of datasets and cloud computing, and increase R&D activity in the UK.

The Sub-Committee is seeking to understand how the provisions in the tax measure will impact companies claiming R&D relief and is particularly interested in hearing about the experiences of SMEs.