Review of effectiveness of provisions on tax avoidance

Finance (No. 3) Bill – in the House of Commons at 7:00 pm on 20th November 2018.

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‘(1) The Chancellor of the Exchequer must review the effectiveness of the provisions of this Act relating to tax avoidance and lay a report of that review before the House of Commons within six months of the passing of this Act.

(2) In this section, “the provisions of this Act relating to tax avoidance” means—

(a) section 15 and Schedule 3,

(b) section 16 and Schedule 4,

(c) sections 19 and 20,

(d) section 22 and Schedule 7,

(e) section 23 and Schedule 8,

(f) sections 46 and 47,

(g) section 83.

(3) A review under this section must consider in particular—

(a) the effects of those provisions in reducing tax avoidance and evasion,

(b) the effect of those provisions in inducing new tax avoidance measures unanticipated by the Act, and

(c) estimates of the efficacy of the provisions in reducing the tax gap in each tax year from 2018-19 to 2028-29.” —(Alison Thewliss.)

This new clause would require a review of the effectiveness of provisions on tax avoidance.

Brought up, read the First and Second time, and added to the Bill.

The Deputy Speaker resumed the Chair.

Bill (Clauses 5, 6, 8 to 10, 15, 16, 19, 20, 22, 23, 38 to 42, 46, 47, 61, 62, 68 to 78, 83, 89 and 90, schedules 3, 4, 7, 8, 15 and 18 and certain new clauses and new schedules), as amended, reported, and ordered to lie on the Table.