Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the threshold for business rates relief in line with inflation.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Small Business Rate Relief (SBRR) is available to businesses with a single property below a set rateable value.
At Autumn Statement 2023, the government announced a package of changes and tax cuts worth £4.3 billion, including a freeze to the small business multiplier for the fourth consecutive year in 2024-25, protecting over a million ratepayers from a multiplier increase.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of including agricultural contractors' buildings in the list of buildings exempted from business rates.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Farmland and buildings solely used for agriculture are exempt from business rates. The Government keeps all taxes under review. Any future decisions regarding the tax system will be taken in line with the normal Budget process.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will add agricultural contractors' buildings to the list of buildings exempted from business rates.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Farmland and buildings solely used for agriculture are exempt from business rates. The Government keeps all taxes under review. Any future decisions regarding the tax system will be taken in line with the normal Budget process.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has had recent discussions with the Financial Conduct Authority on including fractional shares in ISAs.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.
The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.
The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of allowing investors to invest in fractional shares.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.
The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.
The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to allow fractional shares to be included in the new British ISA.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.
The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.
The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will allow fractional shares to be included in ISAs.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.
The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.
The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will remove VAT from defibrillators.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Government maintains VAT reliefs to aid the purchase of Automated External Defibrillators (AEDs), including VAT relief on purchases made by local authorities and those made through voluntary contributions, where the AED is donated to eligible charities or the NHS. Otherwise, they attract the standard rate of VAT.
The Government is currently inviting community organisations to bid for funding as part of a £1 million grant scheme that expands public access to AEDs, particularly in public places where they are most needed. In addition, last year the Government committed to supplying state-funded schools in England with defibrillators to make sure there is a device in every school, with deliveries completed in June 2023. This means that every state-funded school in England, over 21,500 schools, now has access to an AED.
The Government keeps all taxes under review.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of raising the level of the tax-free Personal Allowance on the economy.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
As with all aspects of the tax system, the Government will keep the Personal Allowance under review and any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will raise the level of the tax-free Personal Allowance.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
As with all aspects of the tax system, the Government will keep the Personal Allowance under review and any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.