Asked by: Rachel Blake (Labour (Co-op) - Cities of London and Westminster)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of resourcing for agencies enforcing the UK's sanctions regime.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Resourcing decisions for the next 4 financial years are to be taken at the upcoming Spending Review, with this due for publication in June this year.
At Budget 2024, it was confirmed that the 2025-26 Settlement for HM Treasury ensures that sanctions implementation work will “continue to be supported through the Office of Financial Sanctions Implementation (OFSI)”.
Asked by: Rachel Blake (Labour (Co-op) - Cities of London and Westminster)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes to Orchestra Tax Relief from 1 April 2024 on the promotion of UK orchestras.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The government recognises the value of the UK’s world-leading creative industries and arts sectors.
On 1 April 2024, several administrative changes to Orchestra Tax Relief took effect, following legislation being passed in Finance Act 2024.
In accordance with standard practice, HMRC published a tax information and impact note about the legislation, which can be accessed at: https://www.gov.uk/government/publications/creative-industry-tax-reliefs-administrative-changes/administrative-changes-to-the-creative-industry-tax-reliefs
As set out in the note, the administrative changes are expected to have a negligible impact on businesses claiming the creative tax reliefs.