Asked by: Adam Thompson (Labour - Erewash)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she is taking steps to implement the recommendations of the Financial Regulators Complaints Commission report on BetIndex Limited, published on 16 September 2024.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The government recognises the significant impact the collapse of BetIndex Ltd had on former customers.
The Financial Conduct Authority (FCA) has responded to the Financial Regulators Complaints Commissioner’s report on BetIndex Ltd, noting that it has already implemented a number of changes that address the Commissioner’s recommendations.
HM Treasury continues to engage with the FCA on issues relating to the FCA’s regulatory perimeter, including sports spread betting.
Asked by: Adam Thompson (Labour - Erewash)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the viability of an amendment to section 180(1)(a) of the Income Tax (Earnings and Pensions) Act 2003, to increase the maximum value of employer loans in the context of levels of inflation since the last increase.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Within the current benefit in kind tax rules employers are able to provide their employees with a loan, which can be provided tax free, as long as the total value of the loan is below £10,000. This type of loan can be used to make purchases such as train season tickets, most of which are under £10,000, and the employee will then reimburse their employer out of their net salary.
The Government keeps all aspects of the tax system under review. Any decisions on future changes will be taken in the context of the wider public finances.