Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many (a) one day first fixed penalties and (b) 30 day late payment penalties were issued in each of the last five years, broken down by constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The information requested can only be provided at disproportionate cost.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many (a) one day first fixed penalties and (b) 30 day late payment penalties were cancelled in each of the last five years, broken down by constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The information requested can only be provided at disproportionate cost.Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people were issued with a late filing penalty for non return of a self assessment form in each constituency in each of the last five years; and how many and what proportion of those people did not owe any tax.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The information requested can only be provided at a disproportionate cost.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to resume the implementation of the Single Trade Window.
Answered by James Murray - Exchequer Secretary (HM Treasury)
It remains the government’s intention to deliver a single trade window (STW). The government is committed to minimising administrative burdens and frictions experienced by businesses trading internationally.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when she plans to bring forward legislative proposals to increase the regulation of buy-now pay-later lenders; and what estimate she has made of when that legislation will take effect.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Across the UK, millions have used Buy-Now, Pay-Later (BNPL) products, which can be a helpful way of managing finances from month to month. However, without regulation, there are risks: that is why the government believes consumers need proper protections. The government has made regulating the BNPL sector a priority and in October 2024 it published a consultation setting out its plans for doing so.
Final legislation is expected to be laid in Parliament later in the Spring, and after the legislation has been made, the Financial Conduct Authority (FCA) will consult on and finalise its tailored rules for BNPL products. We expect regulation to be in place 12 months after the legislation has been made.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an estimate of the value of income tax exemption under the workplace nursery scheme in each year from (a) 2018-19 to (b) 2023-24.
Answered by James Murray - Exchequer Secretary (HM Treasury)
HMRC publishes the estimated cost to the Exchequer and number of claimants of various tax reliefs.
The estimated value of Income Tax and Class 1A National Insurance Contributions relief for “Employer Supported Childcare including workplace nurseries” can be found in the “Multiple_tax_types” worksheet of Estimated cost of non-structural tax reliefs (December 2023).
The figures include three forms of employer-supported childcare (ESC): workplace nurseries, childcare vouchers and directly contracted childcare. Use of these reliefs is not reportable to HMRC and so administrative data on their use is not available, nor is a detailed breakdown between the three forms of ESC. The introduction of Tax-Free Childcare and closure of childcare vouchers and directly contracted childcare to new entrants leads to the continuing reduction in the cost of ESC.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an estimate of the value of national insurance contributions that were exempted under workplace nursery schemes in each financial year between 2018-19 and 2023-24.
Answered by James Murray - Exchequer Secretary (HM Treasury)
HMRC publishes the estimated cost to the Exchequer and number of claimants of various tax reliefs.
The estimated value of Income Tax and Class 1A National Insurance Contributions relief for “Employer Supported Childcare including workplace nurseries” can be found in the “Multiple_tax_types” worksheet of Estimated cost of non-structural tax reliefs (December 2023).
The figures include three forms of employer-supported childcare (ESC): workplace nurseries, childcare vouchers and directly contracted childcare. Use of these reliefs is not reportable to HMRC and so administrative data on their use is not available, nor is a detailed breakdown between the three forms of ESC. The introduction of Tax-Free Childcare and closure of childcare vouchers and directly contracted childcare to new entrants leads to the continuing reduction in the cost of ESC.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what her planned timetable is for regulating buy now pay later high cost credit providers; and if she will ensure that such regulation ensures consumers are able to access the financial ombudsman for redress for that form of credit.
Answered by Tulip Siddiq
Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector.
The government will be looking to work closely with all interested stakeholders and will set out its plans shortly.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to his Department's consultation entitled Regulation of Buy-Now Pay-Later: consultation on draft legislation, how many responses were received; and of those received, how many and what proportion were from (a) buy-now-pay-later providers, (b) charities and advocacy groups, (c) other financial service providers who do not offer buy-now-pay-later products and (d) members of the public.
Answered by Bim Afolami
A list of respondents will be included in the Government’s response to the consultation, which will be published in due course.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when his Department plans to publish the response to the consultation on proposed draft legislation to bring buy-now pay-later products into regulation; and, with reference to Part J of the Government's publication entitled Consultation principles: guidance updated 19 March 2018, for what reasons has the Department not responded within the 12 week timeframe.
Answered by Bim Afolami
The Government received a large number of substantive and detailed responses to its consultation on draft legislation to bring Buy-Now Pay-Later (BNPL) into regulation. These responses have required careful consideration to ensure that the Government’s approach to regulation is proportionate and delivers on the Government’s intention to protect BNPL borrowers without unduly restricting access to these useful interest-free products.
The Government expects to publish a response to the consultation, which will set out next steps, in due course.