Asked by: Baroness Finn (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government, further to the Written Answer by the Exchequer Secretary to the Treasury on 5 December 2024 (HC16605), what ministerial declaration has been made to the Permanent Secretary to the Treasury, or the Independent Adviser on Ministerial Standards, in relation to the Chancellor of the Exchequer receiving funding from Labour Together donors; and whether the Chancellor knows who funds Labour Together.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
There is an established process in place for the declaration and management of private interests held by ministers, which has been followed.
Asked by: Baroness Finn (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 21 October 2024 (HL1279), whether the gift of clothes to a Minister from a political donor would necessitate a tax charge.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
Ministers are employees for the purposes of Income Tax and National Insurance Contributions.
The normal rules for employment-related benefits apply to employment-related gifts, as set out in HMRC’s guidance. [1]
HMRC’s Employment Income Manual, section EIM21715 details the exemption for small gifts costing a total of £250 or less per year to provide. [2]
[1] HMRC Internal Employment Income Manual, Updated 12 December 2024, https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim20020
[2] HMRC Internal Employment Income Manual, Updated 12 December 2024, https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim21715