The House of Lords Finance Bill Sub-Committee has been accepting evidence into an Inquiry into the Draft Finance Bill.

The Inquiry is focused on measures to deal with tax avoidance and tax fraud, reforms to merge R&D tax relief schemes and data taxpayers must provide to HMRC. NCUB submitted a short response focussed on the R&D tax reliefs. Our response highlights the importance of a competitive R&D tax relief regime and welcomes the merger of the two schemes. However, it stresses the need for clear guidance to reduce administrative burden for businesses and encourage compliance.