LITRG and TaxAid give evidence to House of Lords Committee on draft Finance Bill
On 27 January 2016, the technical directors of LITRG (Robin Williamson) and TaxAid (Caroline Miskin) attended a hearing of the House of Lords Committee examining the draft Finance Bill and gave oral evidence.
A transcript of the session can be found here.
In addition, LITRG has submitted written evidence to the Committee. The clauses of the draft Bill dealt with by the Lords’ inquiry are:
- Clauses 1-4 (the new personal savings allowance and dividend allowance, the ending of deduction of tax at source from savings income, and the abolition of the dividend tax credit;
- Clause 71 (a new facility for simple assessment where tax cannot be deducted through PAYE and self-assessment is inappropriate); and
- Clauses 83-87 (establishing the Office of Tax Simplification on a permanent, statutory basis).
Our written evidence can be found here.
A piece of supplementary written evidence by LITRG and TaxAid deals with companies’ reporting obligations on paying dividends once the dividend tax credit has been abolished.