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Article summary

The Treasury Committee has launched an inquiry examining the tax reliefs available to individuals and businesses, and whether the system of reliefs achieves benefits for the UK economy that justify their cost. The inquiry will follow HMRC’s definitions of structural and non-structural reliefs. The Committee seeks responses on whether the current suite of tax reliefs represent good value for money, how the various reliefs rank relative to each other based on cost effectiveness, the problems arising from tax reliefs for taxpayers, businesses or for the wider economy, and whether the tax reliefs are being used as intended. The Committee also invites respondents to outline potential reforms to the system of tax reliefs. Responses must be submitted by 19 September 2022.