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Written Question
Capital Gains Tax
Wednesday 20th December 2023

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the length of time it takes for His Majesty's Revenue and Customs to calculate capital gains tax returns.

Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)

The vast majority of Capital Gains returns are filed online, through entries in a Self-Assessment Tax return or our online service for sale of a property which is not the main residence. Taxpayers using online services are presented with their tax calculation immediately, unless there are any exceptions requiring a manual check. For the small numbers of 2022-23 tax returns requiring manual checks, HMRC will complete these by 31 January.

For customers who file their self-assessment return on paper, HMRC aim to process 99% of returns received by the 31 October submission deadline by 31 December. They expect to meet that target this year.


Written Question
Taxation: Rebates
Wednesday 5th July 2023

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask His Majesty's Government how many local revenue offices have informed tax payers that they should not expect tax repayment that they are owed until September, and for what reasons.

Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)

HMRC covers a wide range of taxes where refunds may be made. These include, for example, Income Tax (both Pay As You Earn and Self Assessment), Corporation Tax, Stamp Duty Land Tax, Value Added Tax (with a number of different regimes in use), Inheritance Tax and Capital Gains Tax.

The speed of repayment, and our service level agreements (SLAs) for speed of repayment, varies across different areas.

Footnote:

How HMRC is performing against its service standards can be found here:

https://www.tax.service.gov.uk/guidance/HMRC-service-dashboard/outcome/HMRC-service-dashboard


Written Question
Taxation: Payments
Wednesday 5th July 2023

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask His Majesty's Government what instructions, if any, they have issued to local revenue offices about deferring the repayment of tax.

Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)

HMRC covers a wide range of taxes where refunds may be made. These include, for example, Income Tax (both Pay As You Earn and Self Assessment), Corporation Tax, Stamp Duty Land Tax, Value Added Tax (with a number of different regimes in use), Inheritance Tax and Capital Gains Tax.

The speed of repayment, and our service level agreements (SLAs) for speed of repayment, varies across different areas.

Footnote:

How HMRC is performing against its service standards can be found here:

https://www.tax.service.gov.uk/guidance/HMRC-service-dashboard/outcome/HMRC-service-dashboard


Written Question
Car Allowances
Thursday 24th March 2022

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of whether the 45p per mile fuel allowance for cars and vans should be increased due to (1) the length of time it has remained unchanged, and (2) the increased cost of fuel.

Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)

The Government sets the Approved Mileage Allowance Payments (AMAPs) rates to minimise administrative burdens.

Employers are not required to use the AMAPs rates. Instead, they can agree to reimburse the actual cost incurred, where individuals can provide evidence of the expenditure, without an Income Tax or National Insurance charge arising.

Alternatively, they can choose to pay a different mileage rate that better reflects their employees’ circumstances. However, if the payment exceeds the amount due under AMAPs, and this results in a profit for the individual, they will be liable to pay Income Tax and National Insurance contributions on the difference.

The Government keeps this policy under review.


Written Question
Taxation: Electronic Government
Tuesday 23rd July 2019

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to review the Making Tax Digital service and improve the current (1) process of, and (2) software used by, that service.

Answered by Lord Young of Cookham

HMRC are constantly reviewing the progress of the Making Tax Digital (MTD) service. As at 18 July, over 712,000 businesses have joined the VAT service and over 460,000 VAT submissions have been made successfully.

The VAT Helpline has been performing within the 5 minute target for average waiting time. A small proportion of customers – around 0.5% - have been affected by service issues which HMRC are addressing.

The Government recognises the value of independent assurance. MTD is part of the Government’s Major Projects Portfolio and the VAT service will be reviewed by the Infrastructure and Projects Authority (IPA) in September.

Software enabling customers to use MTD is provided by a wide range of third-party software providers. This approach has led to a rich choice of products to meet businesses’ different needs, preferences and budgets.


Written Question
Cryptocurrencies: Taxation
Monday 12th February 2018

Asked by: Lord Colgrain (Conservative - Excepted Hereditary)

Question to the HM Treasury:

To ask Her Majesty's Government what steps they are taking to ensure that the use of blockchain will not deprive HM Treasury of tax that might otherwise be chargeable on more conventional commercial and financial transactions and structures.

Answered by Lord Bates

HMRC has published guidance setting out its position on the tax treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies, specifically for VAT, Corporation Tax, Income Tax and Capital Gains Tax. The Government continues to keep this area of policy under review.