BDO welcomes Treasury Select Committee’s call for a review of tax reliefs

Commenting on today’s report from the Treasury Select Committee which calls for a review of the cost of tax reliefs, Dawn Register, Head of Tax Dispute Resolution at accountancy and business advisory firm said:

“Tax reliefs have an important role to play in promoting economic growth, attracting inward investment and advancing specific policy outcomes.

“However, with over 1000 tax reliefs in operation, the risk of inadvertent mistakes is huge - and as we’ve seen recently with respect to R&D tax relief, the opportunity to exploit and abuse certain benefits remains significant. Technology-enabled and cross-border fraud also pose particular challenges for the tax authority.

“We therefore welcome today’s call from the Treasury Select Committee for a thorough review of tax reliefs and we wholeheartedly support the Committee’s recommendation for greater simplification in the system. This would go a long way towards increasing transparency which would allow better targeting of reliefs and both legislative and enforcement action to curb their abuse.”

ENDS

Note to editors

About BDO 
Accountancy and business advisory firm BDO LLP provides integrated advice and solutions to help businesses navigate a changing world. 

The organisations we work with are Britain’s economic engine –entrepreneurially-spirited, high-growth businesses that fuel the economy.  

We understand the ambitions and entrepreneurial mindset of those we work with and have the global reach, integrity and expertise to help people and businesses succeed.  

BDO LLP
BDO LLP operates in 17 offices across the UK, employing 7,500 people offering tax, audit and assurance, and a range of advisory services. BDO LLP is the UK member firm of the BDO international network.

BDO’s global network
The BDO global network provides business advisory services in 164 countries and territories, with 111,300 people working out of 1,803 offices worldwide. It has revenues of US$12.8bn.  

Contacts    

Frank Shepherd
Email: Frank.x.shepherd@bdo.co.uk
Tel: 07812 463601