Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what is their assessment of potential unilateral recognition of EU standards to enable UK producers to satisfy EU requirements whilst continuing to sell the same products in the UK.
Answered by Baroness Jones of Whitchurch - Baroness in Waiting (HM Household) (Whip)
The UK currently recognises EU requirements, including the CE marking, for a range of products. This allows businesses to place goods on our market if they meet these rules, saving them time and money. The Product Safety and Metrology Bill will enable the UK to end recognition of EU product regulations, where it is in the best interests of UK businesses and consumers.
It will also enable the UK to make the sovereign choice to recognise new or updated EU product regulations where appropriate to prevent additional costs for businesses and support economic growth.
Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the Department for Environment, Food and Rural Affairs:
To ask His Majesty's Government what is their assessment of the benefits of a veterinary agreement with the European Union against any adverse impact (1) with our other major trading partners, and (2) on the UK's regulatory reform potential.
Answered by Baroness Hayman of Ullock - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
Defra in conjunction with the Department for Business and Trade will work to reset the relationship with our European friends to strengthen ties and tackle barriers to trade, while recognising that there will be no return to the single market or customs union.
We will improve the trading relationship through seeking to negotiate a veterinary / Sanitary and Phytosanitary agreement with the European Union to prevent unnecessary border checks and help tackle the cost of food. We will ensure that any agreement we negotiate with our European partners is mutually beneficial, whilst also respecting our international obligations.
Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government how many titles to UK land are held by an overseas entity that is acting as a trustee, whether nominee or otherwise; and of these trusts (1) how many separate trusts are associated with those titles, (2) how many are registered with HMRC under the Trust Registration Service, and (3) of the trusts registered with HMRC under that Service, how many are taxable.
Answered by Earl of Minto - Shadow Minister (Defence)
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the Member.
Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government how many non-resident trusts there are with at least one UK-resident beneficiary; and how they arrived at an estimate in respect of trusts that are not required to be registered under the Trust Registration Service.
Answered by Baroness Penn
For trusts registered on the Trust Registration Service by 31 March 2023, that remained open as of 31 August 2023, there are around 3,000 non-UK resident trusts that have at least 1 UK resident beneficiary recorded.
Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government how many applications for trust information from the Trust Registration Service have been (1) successful, (2) refused because the trust is exempt, (3) refused because the gateway test is not met, (4) refused because individuals are exempt, and (5) refused for other reasons, in each year the TRS has been in operation, broken down by gateway such as a legitimate interest or offshore company.
Answered by Baroness Penn
Since the process for applying for information on the Trust Registration Service (TRS) came into force on 1 September 2022, c20 valid trust data requests have been processed. To date, no requests have been successful.
Of the c5 legitimate interest requests processed, fewer than five of the trusts were found on the TRS and fewer than five requests were refused because the requestor did not meet the legitimate interest test criteria. Of the c15 offshore company requests processed, fewer than five of the trusts were found on the TRS.
Fewer than five requests have been refused because information on individual beneficial owners was exempt from disclosure.
The numbers above have been rounded to the nearest five as disclosing the exact numbers would potentially disclose information held by HMRC in relation to identifiable persons. References to ‘fewer than five’ are inclusive of nil.
Asked by: Lord Agnew of Oulton (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government how many trusts are registered with the Trusts Registration Service that hold UK land or property either directly or indirectly; and what is the total value of UK land and property assets held.
Answered by Baroness Penn
I can only provide a partial answer to this question, as the Trust Registration Service does not record information on indirect holdings of land by trustees.
Since May 2021 when the Trust Registration Service was expanded to accept registrations from non-taxable trusts, c.44,000 trusts have notified the Trust Registration Service that the trustees have acquired a direct interest in UK land on or after 6 October 2020. Of this figure, c.43,000 are UK-resident trusts and c.1,000 are non-UK resident trusts.
Only taxable trusts, including those that registered before May 2021, are required to provide a statement of assets at the time of registration, including UK land or property. However, analysing this information to arrive at a total number and value of properties held by these trusts would carry a disproportionate cost.