Greg Knight
Main Page: Greg Knight (Conservative - East Yorkshire)Department Debates - View all Greg Knight's debates with the HM Treasury
(10 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Priti Patel
My hon. Friend makes a valid point about keeping the arrangements under review. We want to ensure that people pay not just their fair share, but the right amount. The Government keep all taxes under review.
Sir Greg Knight (East Yorkshire) (Con)
Clause 2 refers to the purchaser being able to elect that the new calculations do not apply, and the explanatory notes that my hon. Friend has helpfully supplied state:
“An election must be made in a land transaction return . . . and must meet any requirements specified by the Commissioners for Her Majesty’s Revenue and Customs.”
Will any terms so imposed be subject to ministerial scrutiny and approval?
Priti Patel
Absolutely. Ministers are involved in the process and will be consulted. That is right and proper. The point that my right hon. Friend makes is about the transitional rules, which we touched on earlier.
The hon. Member for Birmingham, Ladywood (Shabana Mahmood) mentioned Scotland and the changes to stamp duty land tax, which has been devolved to Scotland. The Government will monitor how stamp duty land tax receipts change in the light of that. That is part of the usual policy-making process.