LORDS

HMRC and Treasury officials questioned on Finance Bill

10 February 2014

The Economic Affairs Finance Bill Sub-Committee takes evidence from officials in HMRC and HM Treasury on the draft Finance Bill 2014 in its last public hearing of the inquiry

Witnesses

Monday 10 February 2014, Committee Room 4a, Palace of Westminster

At 3.35pm:

  • Judith Knott, Director, Corporate Tax, International and Stamps, HMRC
  • Ian Quelch, Deputy Director, Business Customer and Strategy, HMRC
  • Cerys Morgan, Deputy Director, Personal Tax, HM Treasury

Topics

Areas the Sub-Committee will cover with the witnesses include:

  • Why the 2000 LLP Act failed to align the tax treatment of LLPs with that of general partnerships
  • When HMRC became aware that the presumption of self-employment in the Act was being exploited and why it has not acted until now
  • How will the Government respond to LLPs who review their partnership agreements to comply with provisions in the draft Finance Bill
  • Whether the witnesses would accept that prior to the consultation undertaken in May 2013 the Government had a very limited understanding of how partnerships are structured, particularly in the City
  • What progress their departments have made in improving their mechanisms to consult small business and non-business interests on tax changes

Further information

Image: PA

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