The Treasury Committee has issued 'Call for Evidence: Tax Reliefs'. This seeks views on the reliefs available for individuals as well as businesses and seeks to review the benefits they provide to the economy and ways in which they can be improved.
The Treasury Committee is seeking written responses exploring stakeholder views on the variety of tax reliefs which are available. Opinions are sought covering:
- How and which reliefs offer value for money in respect of:
- Economic growth.
- Employment.
- Investment.
- Research and Development.
- Encouraging behaviours and providing social benefits.
- How reliefs could be reformed relating to:
- Adding additional reliefs.
- Removing or reforming existing tax reliefs.
- Aiding or reforming the administration of the existing reliefs.
- How the Government analyses and is transparent about tax reliefs.
- Means-testing and targeting.
- General points in respect of the working of reliefs:
- Do ‘cliff edges’ in tax relieving provisions lead to problems for potential recipients?
- Are tax reliefs working in the intended way?
- What problems do tax reliefs cause in relation to evasion, avoidance and the wider economy.
Responses can be made online and are requested by 5pm on Monday 19 September.
Useful guides on this topic
R&D Tax Relief Reform
The government has published draft legislation as part of Finance Bill 2022-23, which sets out the planned reforms of the Research & Development (R&D) Tax Relief. As previously announced, the relief will be expanded to cover a wider range of expenditure and relief will be restricted in part to focus more on rewarding UK expenditure.
External links
Call for Evidence: Tax reliefs
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