Chapter 1: Introduction
Chapter 2: Basis Period Reform
What is a basis period and whom does it affect?
Box 1: Example to show how basis periods work in the early years of a business
The Finance Bill proposal
What consultation has there been?
Has the case for change been made?
Estimation and apportionment
Impact on tax liabilities
Are taxpayers and HMRC ready for the change?
Proposed timetable for the change
Preparation for change: raising awareness
Preparation for change: software
How much will businesses have to pay?
Chapter 3: Uncertain Tax Treatment
Simplification of the tax system: the test of uncertainty
Potential compliance burden for taxpayers
HMRC compliance burden and support for businesses
Use of draft guidance
Chapter 4: Common Themes
Failure to follow the Tax Policy Framework
Resourcing for implementation
Complexity and bureaucracy: impact on business
Summary of Conclusions and recommendations
Appendix 1: List of Members and declarations of interests
Appendix 2: List of witnesses
Appendix 3: Call for evidence
Evidence is published online at https://committees.parliament.uk/work/1491/draft-finance-bill-202122/publications/ and available for inspection at the Parliamentary Archives (020 7219 3074).
Q in footnotes refers to a question in oral evidence.
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