Baroness Winterton of Doncaster
Main Page: Baroness Winterton of Doncaster (Labour - Life peer)Department Debates - View all Baroness Winterton of Doncaster's debates with the HM Treasury
(4 years, 8 months ago)
Commons ChamberThank you—I think—to my right hon. Friend. I share his passion for getting our campsites open. I hope that an extra incentive today will be the cut in VAT, from 20% to 5%, which extends to campsites, as well as to caravan sites, bed and breakfasts, and hotels. I am not sure that I have the powers to summon anyone, but I will be delighted to bring to bear whatever influence I can on the matter. I look forward to discussing it with him further.
In a moment, I will call the Chancellor of the Exchequer to move a provisional collection of taxes motion. Copies of the motion are available in the Vote Office. In accordance with Standing Order No. 51, on Ways and Means motions, a Minister of the Crown may without notice make a motion for giving provisional statutory effect to any proposals in pursuance of section 5 of the Provisional Collection of Taxes Act 1968. The question on such a motion shall be put forthwith.
Provisional Collection of Taxes
Motion made, and Question put forthwith (Standing Order No. 51(2)),
That, pursuant to section 5 of the Provisional Collection of Taxes Act 1968, provisional statutory effect shall be given to the following motion:
Stamp duty land tax (temporary relief)
That—
(1) This Resolution makes modifications of Part 4 of the Finance Act 2003 in relation to any land transaction the effective date of which falls in the period (“the temporary relief period”)—
(a) beginning with 8 July 2020, and
(b) ending with 31 March 2021.
(2) Section 55(1B) (amount of stamp duty land tax chargeable: general) has effect as if for Table A there were substituted—
“TABLE A: RESIDENTIAL
Part of relevant consideration | Percentage |
---|---|
So much as does not exceed £500,000 | 0% |
So much as exceeds £500,000 but does not exceed £925,000 | 5% |
So much as exceeds £925,000 but does not exceed £1,500,000 | 10% |
The remainder (if any) | 12% |
Part of relevant consideration | Percentage |
So much as does not exceed £500,000 | 3% |
So much as exceeds £500,000 but does not exceed £925,000 | 8% |
So much as exceeds £925,000 but does not exceed £1,500,000 | 13% |
The remainder (if any) | 15% |
Rate bands | Percentage |
---|---|
£0 to £500,000 | 0% |
Over £500,000 | 1% |
In order to allow the safe exit of hon. Members participating in this item of business and the safe arrival of those participating in the next, I am suspending the House for three minutes.
Virtual participation in proceedings concluded (Order, 4 June).