Former accountant to lead PSCs probe

A former chartered accountant known for modernising financial practices is to lead the House of Lords investigation into personal service companies and how they impact tax collection.

Baroness Noakes, a law graduate and tax expert credited with modernising the financial set-up of the NHS, will chair the upcoming Personal Service Companies Committee.

It will be down to her, and eleven other committee members, to decide whether the evidence they take to draw up their recommendations about PSCs will be made public.

In particular, the committee will tomorrow hear that they alone will judge if the findings they make from up to eight oral evidence sessions into PSCs should be published or kept private.

Either way, the committee must report its recommendations on PSCs to the House of Lords no later than March 31st 2014, from which date ministers undertake to respond within two months.

The committee will have the power to appoint specialist advisers from the private sector and will be able to request the presence of persons, papers or records anywhere within the UK.

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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