Asked by: Will Forster (Liberal Democrat - Woking)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people do not receive National Insurance credits through not applying for Child Benefit.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
It is estimated that 214 thousand people who qualified for Child Benefit in 2024-25 were not claiming it and missed out on National Insurance credits. This estimate excludes those who paid National Insurance contributions or who received credits via another route.
HMRC encourages parents and guardians to claim Child Benefit, even if their or their partner’s income means they may be liable to the High Income Child Benefit Charge. They can opt out of getting Child Benefit payments so they do not have to pay the charge and can still get National Insurance contributions to protect their State Pension.
Asked by: Gareth Snell (Labour (Co-op) - Stoke-on-Trent Central)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has had with her Gibraltarian counterpart on the potential impact of the new Remote Betting Duty on the Gibraltarian economy.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Increasing gambling duties will raise over £1 billion per year to support the public finances and forms part of our ambition to create a fair, modern and sustainable tax system.
The Government understands that Gibraltar has a gambling industry that faces the UK, and engaged with representatives of the Government of Gibraltar following the Budget and will continue to monitor all impacts of these changes.
Asked by: Andrew Snowden (Conservative - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will reconsider the decision to withdraw the childminder tax agreement BIM 52751.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Childminders play a vital role in childcare. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.
At Budget 2025 the Government confirmed that the standard rules for calculating income tax would apply to childminders who are mandated into Making Tax Digital (MTD). We will phase in this change between 2026 and 2028, in line with the MTD income thresholds. The threshold from April 2026 is £50,000 of qualifying income, reducing to £30,000 from April 2027 and £20,000 from April 2028.
HMRC’s Business Income manual page BIM52751 is not being withdrawn. A revised version will be published in early 2026 to reflect the Government’s confirmation at Budget 2025 that the standard rules for calculating income tax will apply to childminders within Making Tax Digital for Income Tax. The guidance will also be clarified for childminders that work from non-domestic premises.
Childminders can continue to claim tax relief for wear and tear by deducting the actual cost of buying, repairing or replacing items. They can also deduct the cost of business expenses such as utilities, cleaning and equipment. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.
Asked by: Laurence Turner (Labour - Birmingham Northfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to page 18 of the Financial Conduct Authority's publication entitled Regulatory Initiatives Grid - 9th Edition, published on 12 December 2025, what assessment she has made of the potential impact of the FCA's commitment to consult on the implementation of Sustainability Reporting Standards disclosure requirements for UK listed companies on (a) alignment with international financial reporting standards and (b) economic growth.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government’s Financial Services Growth and Competitiveness Strategy set out how UK can play a leading role in facilitating the financing of the global net zero transition. The UK is already one of the world’s leading sustainable finance centres – the challenge is to evolve and expand. To achieve that challenge, the government is delivering on a small number of targeted initiatives, working closely with the sector to make the biggest impact – boosting investor protection and UK competitiveness.
As part of this, the government consulted last year on the UK Sustainability Reporting Standards, the UK’s implementation of the International Sustainability Standard Board’s global standards. The aim is to provide clear standards which support comparable and decision-useful disclosures for investors, and which align with other jurisdictions. The government will be publishing its consultation response along with the endorsed UK standards in Q1 2026.
The government welcomes the FCA consultation on the implementation of UK Sustainability Reporting Standards for listed companies, which is due to be published later this month, and encourages the sector to engage with that process.
Asked by: Steve Barclay (Conservative - North East Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the number of people using the £1,000 tax free allowance for (a) trading and (b) property income in each of the last three years for which figures are available.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The tax-free allowances simplify the tax system and keep low levels of casual income out of taxation. Individuals with trading income or property income at £1,000 or below are not required to report the income and the use of allowances to HMRC through Self Assessment (SA). As a result, HMRC cannot provide a total estimate on the number of people using the allowances and the cost of the allowances.
More information on the tax free allowances can be found at:
Tax-free allowances on property and trading income - GOV.UK”
Asked by: Steve Barclay (Conservative - North East Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the cost of the £1,000 tax free allowance for (a) trading and (b) property income in each of the last three years for which figures are available.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The tax-free allowances simplify the tax system and keep low levels of casual income out of taxation. Individuals with trading income or property income at £1,000 or below are not required to report the income and the use of allowances to HMRC through Self Assessment (SA). As a result, HMRC cannot provide a total estimate on the number of people using the allowances and the cost of the allowances.
More information on the tax free allowances can be found at:
Tax-free allowances on property and trading income - GOV.UK”
Asked by: Gregory Campbell (Democratic Unionist Party - East Londonderry)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to employer National Insurance contributions on the hospitality sector in Northern Ireland.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.
The Government protected the smallest hospitality businesses from recent changes to employer National Insurance by increasing the Employment Allowance to £10,500.
Wider business support is devolved in Northern Ireland and is the responsibility of the Northern Ireland Executive. The Northern Ireland Executive’s Spending Review settlement for 2025-26 is the largest in real terms of any settlement since devolution and they receive over 24% more funding per person than equivalent UK Government spending in the rest of the UK in all years of the Spending Review 2025 period (2025-26 to 2028-29).
Asked by: Angus MacDonald (Liberal Democrat - Inverness, Skye and West Ross-shire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of the VAT registration threshold on the UK’s obligations under the Protocol on Ireland/Northern Ireland as amended by the Windsor Framework.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
VAT policy, including the VAT registration threshold, applies on a UK-wide basis and operates in Northern Ireland in line with the UK’s international obligations under the Windsor Framework.
The VAT registration threshold is consistent with the operation of the Framework.
Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what steps they are taking to facilitate collaboration between UK financial regulators and international regulatory authorities to maintain the City of London's competitiveness in fintech innovation.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government is committed to making the UK the best place for fintechs, to start, scale and list. The Financial Services Growth and Competitiveness Strategy, published in July 2025, sets out our mission to shape a regulatory environment for financial services that is proportionate, predictable and internationally competitive, embracing innovation and leveraging the UK’s leadership in Fintech.
We are delivering this through strengthened partnerships with international financial centres around the world, supported by ongoing regulatory dialogues with many of our international partners such as the EU, US, China, India and the Gulf. We also continue to promote cooperation between UK financial regulators and their counterparts overseas. For instance, the UK has established the UK-US Transatlantic Taskforce for Markets of the Future, which is exploring opportunities for deeper collaboration in financial services, with a particular focus on digital assets and capital markets.
In addition, the Office for Investment: Financial Services, launched last October, will guide and support international investors looking to establish or grow a presence in the UK’s financial services sector, with a focus on fintech and the other priority growth areas
Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of consolidation trends in the fintech sector; and what steps they will take to support UK-based fintech firms in maintaining global competitiveness.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
As set out in the Government’s Financial Services Growth and Competitiveness Strategy (“the Strategy”), the UK aims to be the world’s most technologically advanced global financial centre, and to remain a leading jurisdiction for Fintech firms to start-up, scale and list.
The UK has a long history as a powerhouse of financial services innovation. The Strategy set out a comprehensive package of reforms to maintain the UK’s global leadership in fintech. The sector attracted $3.6 billion of investment in 2025 - second only to the US.