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Written Question
Multinational Companies: Taxation
Wednesday 8th February 2023

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Autumn Statement 2022, pg. 60, Line 33, what calculations his Department used to establish the figure of £2.11 billion of revenue in 2024-25 from implementation of the global minimum corporate tax reforms; and if he will place a copy of those calculations in the Library of the House.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf.


Written Question
Multinational Companies: Taxation
Wednesday 8th February 2023

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2 published on 20 July 2022, by what calculations the estimate of an ongoing annual administrative burden on UK businesses of £8.2m was arrived at; and if he will place a copy of those calculations in the library of the House.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

Pillar 2 rules: UK implementation of global minimum corporate tax reforms from 31 December 2023 was announced at Autumn Budget 2022 and is projected to raise over £8.9 billion over the next 5 years.

The £8.2 million average reoccurring annual impact cost was calculated based on HMRC’s Standard Cost Model methodology for determining the administrative impacts of compliant, efficient businesses complying with new measures.


Written Question
Corporation Tax: Reform
Tuesday 7th February 2023

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to page 58 of the Autumn Statement 2022, published on 17 November 2022, what account has been taken of potential behaviour change in the estimates of revenue arising from implementation of the global minimum corporate tax reforms.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

The UK implementation of the Pillar 2 Global Minimum Tax was scored at Autumn Statement 2022.

The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found on gov.uk at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf


Written Question
Multinational Companies: Taxation
Tuesday 7th February 2023

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether it is his policy that Pillar 2 of the Organisation for Economic Cooperation and Development’s Base Erosion and Profit Shifting 2.0 proposals will not become operational in the UK if international agreement is not reached on Pillar 1.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

At Autumn Statement 2022, the Government confirmed that Pillar 2 will be implemented in the UK from 31 December 2023. This can be viewed on page 51 of the Autumn Statement document on gov.uk https://www.gov.uk/government/publications/autumn-statement-2022-documents

Alongside this the Government remains focused on delivering a Multilateral Convention on Pillar 1 by mid-2023, in line with the aim set out in the OECD’s Progress Report on Pillar 1 in July 2022, with the aim of that agreement then coming into force as soon as possible.


Written Question
Taxation: USA
Tuesday 7th February 2023

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the consultation on implementation of OECD Pillar 2 published 11 January 2022, and the statement in paragraph 3.6 that the effectiveness of the global rules also depends on a high degree of consistency in the implementation in different jurisdictions, what assessment his Department has made of the progress being made towards the consistent implementation of the rules in the United States; and if he will make a statement.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

The international group representing more than 135 countries that are collaborating to tackle tax avoidance (known as the ‘Inclusive Framework’) have agreed that Pillar 2 implementation is subject to a ‘common approach’. This means that countries that implement Pillar 2 must do so in line with the intended outcomes of the rules, ensuring consistency in implementation. A qualification process for each country that implements Pillar 2 is under discussion by the Inclusive Framework.

The United States have already implemented a tax on low taxed foreign profits called Global Intangible Low Taxed Income (GILTI). The Government recognises that the US has committed to reforming the GILTI rules so that they align with the Pillar 2 rules. How GILTI and Pillar 2 will interact, pending such reform, is being agreed internationally.


Written Question
Business Rates
Tuesday 28th June 2022

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans the Government has to implement the findings of the fundamental review of business rates.

Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport

Following the review of business rates the government announced measures worth £7 billion for businesses over the next 5 years.

We have already started implementing the findings from the review, by freezing the multiplier in 2022/23, introducing a 50 per cent retail relief, and introducing new plant and machinery and heat networks reliefs.

Other reforms, including the new improvement relief, will be implemented from April 2023.


Written Question
Treasury
Tuesday 24th May 2022

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Answer of 9 March 2022 to Question 132402 on civil service staff networks, what information he holds on (a) FTE staff time and (b) budgets available to recognised staff groups within his Department in each of the last three years.

Answered by Helen Whately - Minister of State (Department of Health and Social Care)

With reference to the answer of 9 March 2022, HM Treasury has several staff networks.

Network activities are voluntary and are carried out in addition to the individuals’ normal role.

There is no allocated budget available for networks within the Department.

Staff networks and societies provide valuable support to staff, they promote activities and opportunities for talented civil servants encouraging an inclusive work culture.


Written Question
Treasury: Social Clubs
Tuesday 24th May 2022

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Answer of 9 March 2022 to Question 132402 on civil service staff networks, what recognised staff groups have been running in his Department over the last three years.

Answered by Helen Whately - Minister of State (Department of Health and Social Care)

With reference to the answer of 9 March 2022, HM Treasury has several staff networks.

Network activities are voluntary and are carried out in addition to the individuals’ normal role.

There is no allocated budget available for networks within the Department.

Staff networks and societies provide valuable support to staff, they promote activities and opportunities for talented civil servants encouraging an inclusive work culture.


Written Question
Treasury: Social Clubs
Wednesday 9th March 2022

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will provide a list of (a) professional staff networks and (b) social clubs operating within his Department; and if he will provide the (i) budgets and (ii) FTE staff time allocated to each group within each of the last three years.

Answered by Helen Whately - Minister of State (Department of Health and Social Care)

HM Treasury has several staff networks however all networks are run voluntarily meaning no networks receive allocated FTE or budget. HM Treasury employees can join the Civil Service Club or the CSSC however these are external organisations and as such information is not held about them centrally.


Written Question
Tax Avoidance
Tuesday 5th May 2020

Asked by: Gareth Bacon (Conservative - Orpington)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential merits of reviewing HMRC’s agreement with debtors that monies already paid cannot be reclaimed, in the event that the Loan Charge is suspended or revoked.

Answered by Jesse Norman

The Government accepted all but one of the 20 recommendations made by Sir Amyas Morse in December 2019 following his Independent Review of the Loan Charge policy.

The Independent Review assessed the impact of the policy on affected taxpayers and found that it was right for the Government to try to ensure that the tax was collected and that the Loan Charge should remain in force.

There was no recommendation to suspend or revoke the policy and the Government agrees it should remain in force.

The Government has included legislation required to implement the recommendations in the Finance Bill.

Implementing these recommendations is estimated to benefit more than 30,000 people subject to the Loan Charge, including about 11,000 people who will be taken out of paying it altogether.