Committees

Draft Finance Bill 2023-24

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 Sub-Committee will inquire into 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.

This inquiry is no longer accepting evidence

The deadline for submissions was Friday 6 October 2023.

Upcoming events

View all events

No upcoming events scheduled

Past events

Wednesday 29 November 2023
10:30am Private
10:45am Public
Draft Finance Bill 2023-24 - Oral evidence 29 November 2023
Palace of Westminster
Monday 20 November 2023
4:00pm Private
4:15pm Public
Draft Finance Bill 2023-24 - Oral evidence 20 November 2023
Room 2, Palace of Westminster
Monday 13 November 2023
4:00pm Private
4:15pm Public
Draft Finance Bill 2023-24 - Oral evidence 13 November 2023
Room 4, Palace of Westminster
Monday 23 October 2023
4:00pm Private
4:05pm Public
Draft Finance Bill 2023-24 - Oral evidence 23 October 2023
Room 4, Palace of Westminster

Contact us

  • Email: financebill@parliament.uk
  • Phone: 020 7219 6225 (committee staff) | 020 7219 6640 (Press Officer)
  • Address: Economic Affairs Finance Bill Sub-Committee, House of Lords, London SW1A 0PW