Asked by: Steff Aquarone (Liberal Democrat - North Norfolk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what was the total VAT revenue from a). domestic and b). commercial heating oil sales in FY2024-25.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HM Revenue and Customs does not hold information on VAT revenue from specific products or services. This is because businesses are not required to provide figures at a product level within their VAT returns, as this would impose an excessive administrative burden.
VAT is chargeable at the reduced rate of 5% on domestic fuel and power. Business consumers of energy may reclaim VAT on their purchases of energy subject to normal VAT deduction rules.
Asked by: Andrew Snowden (Conservative - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to pursue enforcement action against promoters of tax avoidance schemes in connection with the loan charge.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
This government recognised that concerns continued to be raised about the loan charge and that some felt strongly that it had not been handled appropriately.
The Government therefore commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge.
The Government is introducing new powers in Finance Bill 2025/26 to close in on promoters of marketed tax avoidance and the other professionals who market or enable tax avoidance schemes.
These new powers will go further and include more criminal sanctions. This shows the Government’s clear determination to close in on the few remaining promoters by strengthening deterrents and introducing significant additional consequences for promoters who continue promoting tax avoidance schemes.
At the Budget, the Government announced action to tackle tax avoidance by umbrella companies, where most disguised remuneration now takes place. The Government will introduce legislation, effective from April 2026, to make recruitment agencies using umbrella companies legally responsible for accounting for PAYE on workers’ pay. Where there is no agency in the supply chain, this responsibility will fall to the end client. This along with the measures on promoters will help prevent disguised remuneration in the future.
Asked by: Caroline Dinenage (Conservative - Gosport)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that HMRC provides clear information about interest on delayed and forward payments.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC provides guidance on the interest applied to tax that is paid late, and on the repayment interest paid when taxpayers are owed money. The rates and explanatory information are published on GOV.UK and reviewed regularly to ensure they remain accurate, accessible and up to date.
Details of HMRC’s current interest rates for late and early payments are available here: https://www.gov.uk/government/publications/rates-and-allowances-hmrc-interest-rates-for-late-and-early-payments/rates-and-allowances-hmrc-interest-rates
For customers who need extra help, including those who are vulnerable or digitally excluded, HMRC provides dedicated tailored support through their Extra Support Team. They can offer additional assistance over the phone and help customers understand what interest applies and why.
Anyone worried about meeting their tax obligations on time should contact HMRC as early as possible to discuss options, such as setting up a time to pay arrangement.
Asked by: Andrew Snowden (Conservative - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether HM Revenue and Customs has conducted a recent assessment of vulnerabilities in the Government Gateway system relating to unauthorised changes to personal account details.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HM Revenue and Customs keeps the security of the Government Gateway under continual review.As part of its standard cyber security and risk management processes, HMRC regularly undertakes security risk assessments, vulnerability management activity and testing to identify and mitigate potential threats, including risks associated with unauthorised changes to customer account details. These activities are complemented by fraud prevention controls, monitoring and investigation arrangements designed to detect and respond to suspicious or potentially fraudulent account activity. Where issues are identified, they are prioritised and addressed in line with HMRC’s security governance and incident management arrangements.
For security reasons, HMRC does not comment publicly on the detail or outcomes of specific security assessments.
Asked by: Dan Carden (Labour - Liverpool Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made with Cabinet colleagues of the potential impact of rent inflation plays on levels of in-work poverty.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
According to the latest ONS data, annual rental price inflation slowed to 3.5% in January 2026, after peaking at 9.1% in March 2024. However, the Government recognises the pressure that rental inflation places on the finances of working households in the private rental sector.
The Government is taking action to reduce levels of in-work poverty for families by tackling the cost of living. Thanks to decisions the Government made at the Budget, households across Britain will now save around £150 on energy bills from April 2026. We have also removed the two-child benefit cap, which will lift 450,000 children out of poverty and we have increased the minimum wage, so that those on low incomes are properly rewarded for their hard work. Alongside this, the Government is taking steps to increase housing supply and improve conditions in the private rented sector, helping to ease pressure on renters.
Asked by: Dan Carden (Labour - Liverpool Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of rent inflation on the level of disposable incomes and consumer spending.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
According to the latest ONS data, annual rental price slowed to 3.5% in January 2026, after peaking at 9.1% in March 2024. However, the Government recognises the pressure that rental inflation places on the finances of households in the private rental sector.
The most effective way to keep rents down is by increasing housing supply across the UK. The Government’s Plan for Change has set a milestone to build 1.5m homes in this Parliament. This will help address the housing crisis which impacts everyone, especially private renters. The Government has also passed the Renter’s Rights Act 2025 which empowers 11 million renters in England to challenge unreasonable rent increases, giving them greater security and stability.
Asked by: Dan Carden (Labour - Liverpool Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment with Cabinet colleagues of the potential impact of rent stabilisation on inflation.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
Forecasting the economy, including the impact of Government policy decisions on inflation, is the responsibility of the independent Office for Budget Responsibility (OBR). The OBR set out its latest assessment of policy measures in its Spring Forecast 2026, published on 3 March 2026. The OBR did not publish a specific estimate of the impact of social rent convergence on inflation in that forecast.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will assess the potential impact of her debt management policies on pension funds.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
Consistent with the debt management objective, the government assesses a range of cost and risk factors when setting its financing plans, in addition to demand considerations and market conditions. HM Treasury and the Debt Management Office regularly consult with gilt market investors, including pension funds, to provide participants with the opportunity to inform decisions on debt management.
The gilt holdings of pension funds will decline in the coming years as most private sector defined benefit pension schemes are closed to new members and will eventually wind down. This trend is well understood by the market – and it remains an important consideration when setting debt management policy. This was reflected in the 2026-27 UK Debt Management Office financing remit, which was announced on 3 March. The remit sets out a balanced and well-diversified gilt issuance programme across the range of maturities, in order to support maintaining an accessible, well-functioning gilt market.
Asked by: Neil Duncan-Jordan (Labour - Poole)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of ensuring that tax is not paid on state pensions.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
Exempting the State Pension from income tax entirely would reduce tax receipts substantially undermining the public services we all rely on – especially the NHS.
However, I can confirm that those whose sole income is the basic and full new State Pension, without any increments, will not pay any income tax this tax year or next.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what proportion of government debt over each of the past five financial years has been held by (a) domestic investors and (b) overseas investors.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The ONS publishes estimates of holdings of government debt by sector. The latest available data, as at end 2025 Q3, splits holdings by overseas and domestic investors. ONS data shows a split of holdings between overseas and domestic investors of 28% and 72% respectively in 2021 Q3 and 33% and 67% respectively in 2025 Q3.