New Clause 24: Finance (No. 2) Bill
New Clause 24 - Review of super-deductions
“(1) The Chancellor of the Exchequer must review the impact of sections 9 to 14 and schedule 1 of this Act and lay a report of that review before the House of Commons within six months of the passing of this Act, and then annually for five further years.
(2) A review under this section must estimate the expected impact of sections 9 to 14 and schedule 1 on—
(a) levels of artificial tax avoidance,
(b) levels of tax evasion, reducing the tax gap in each tax year from 2021–22 to 2025–26, and
(c) levels of gross fixed capital formation by businesses in each tax year from 2021–22 to 2025–26.
(3) The first review under this section must also consider levels of usage of the recovery loan scheme in 2021.”—(James Murray.)