Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the cost to the public purse of reducing the headline rate of Digital Services Tax by the end of this Parliament.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Digital Services Tax (DST) is an interim tax measure to ensure that digital services providers pay UK tax on digital services that reflects the value they derive from UK users.
The UK remains committed to reaching a global solution on the taxation of the digital economy through Pillar 1 of the G20-OECD Inclusive Framework project. It is UK’s intention to repeal our Digital Services Tax (DST) when this international solution is in place.
The OBR’s latest Economic and Fiscal Outlook publication sets out forecasts of Digital Services Tax revenues.
Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an estimate of the potential impact of applying VAT to unredeemed deposits in the deposit return scheme on revenues to the Exchequer.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government is currently considering the VAT treatment of deposits charged under deposit return schemes. Should VAT be applied to unreturned deposits HMRC expect the impact on exchequer receipts to be negligible.Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has undertaken consultation with large family-owned businesses with more than 100 employees on the proposed changes to business property relief.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
The Government will publish a technical consultation in early 2025. This will focus on the detailed application of the allowance to lifetime transfers into trusts and charges on trust property. This will inform the legislation to be included in a future Finance Bill.