Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to remove incentives for oil and gas extraction from the tax system; and if he will make a statement.
Answered by Kemi Badenoch - President of the Board of Trade
Our domestic oil and gas industry produces the equivalent of around half of the UK’s primary energy needs and will continue to play an important role as we transition to a net zero economy. The industry has paid around £375bn in production taxes to date and supports around 147,000 jobs directly and in their supply chains, employing people in locations right across the country and supporting many more local jobs in sectors that rely on a vibrant oil and gas industry.
The Government places additional taxes on the extraction of oil and gas to ensure a fair return for the nation while also supporting the industry to address genuine costs through targeted tax reliefs, such as those to encourage the safe removal of infrastructure at the end of a field’s life.
The Government keeps all taxes under review, and any changes are made in the round at fiscal events.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many certificates the Valuation Office Agency has issued under the Non-Domestic Rating (Telecommunications Infrastructure Relief) (England) Regulations 2018; and what the value is of those certificates.
Answered by Jesse Norman
The Valuation Office Agency (VOA) has issued 71 certificates. The Commissioners for Revenue and Customs Act 2005 restricts VOA from providing specific information, in order to protect ratepayer confidentiality. Disclosing the total value of the certificates could allow specific companies to be identified, since only a small number of companies are included.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many certificates the Valuation Office Agency has issued to BT pursuant to The Non-Domestic Rating (Telecommunications Infrastructure Relief) (England) Regulations 2018; and what the total value of those certificates is.
Answered by Jesse Norman
The Valuation Office Agency (VOA) is responsible for the valuation of non-domestic properties for business rates purposes in England and Wales. The Commissioners for Revenue and Customs Act 2005 restricts VOA from providing specific information about companies, in order to protect ratepayer confidentiality.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what proportion of PAYE Real Time Information records received by HMRC cannot be matched to a taxpayer.
Answered by Jesse Norman
99.25% of the Individual Payment Submissions held by HMRC are attached to an employment with a valid National Insurance number.Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
What recent discussions he has had with the Financial Conduct Authority on tackling online financial crime.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Whilst the FCA is an independent, non-governmental regulator, the Treasury, as the department jointly responsible for economic crime policy with Home Office, is in regular contact with the FCA on matters to do with online financial crime. I can confirm that my officials hold regular discussions with their FCA counterparts on these issues, including on the delivery of the Economic Crime Plan, the prevention of online harms, including financial promotions and online fraud, and issues related to anti-money laundering supervision. In addition, the FCA is a member of the Economic Crime Strategic Board, through which the government, regulators, law enforcement, and industry discuss and drive forward the UK’s overall response to economic crime.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what provisions are in place for HMRC to (a) receive and (b) share tax return data with the Home Office for immigration enforcement purposes.
Answered by Jesse Norman
HMRC and the Home Office (HO) have a long-established relationship underpinned by a single Partnership Agreement. The Partnership Agreement sets out the framework under which HMRC and HO work together. Sitting under this Partnership Agreement are a number of Memorandums of Understanding (MoUs) and Data Usage Agreements (DUAs) regarding the sharing of data for immigration enforcement purposes.
These documents are signed off by both departments and outline the approved legal gateway for the data share, the purpose of the data share, how the data will be used, what data is to be shared and how, data security obligations, and data retention policy.
HMRC have extensive senior governance in place to assure that Data Sharing Agreements (DSAs) adhere to legal requirements and are proportionate in their requests. All DSAs are assessed under relevant legislation and are reviewed under a regular schedule. Secure data transfer infrastructure is in place for data exchange, and data is only permitted to be used for the agreed purpose.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the level of revenue lost to the public purse as a result of the effect of covid-19 pandemic on the travel sector.
Answered by Kemi Badenoch - President of the Board of Trade
The Government recognises the challenging circumstances facing the travel sector as a result of Covid-19, and firms experiencing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital, flexibilities with tax bills and the extended furlough scheme.
As set out in the Covid-19 Impact Assessment last November, the Government cannot forecast with confidence the precise impact of specific changes to restrictions, including those on the travel sector, as this will depend on a broad range of factors which are, in many cases, difficult to estimate. The Treasury does not prepare forecasts for the UK economy and public finances, these are the responsibility of the independent Office for Budget Responsibility (OBR).
The economic impacts of the Covid-19 pandemic and the unprecedented fiscal support has caused significant but necessary increase in borrowing and debt. However, borrowing costs continue to be low, making the current costs of servicing this increase in debt affordable.
The Budget will set out the next phase of the plan to tackle the virus and protect jobs.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of a reformed Social Investment Tax Relief to support the Government’s policy of levelling up; and if he will make a statement.
Answered by Jesse Norman
The Social Investment Tax Relief (SITR) was introduced in 2014 to incentivise risk finance investments in qualifying social enterprises and charities. HMRC statistics show that up to 2018-19, about 110 enterprises have used the scheme to raise £11.2 million.
The Government keeps all taxes and reliefs under review in order to ensure they continue to meet policy objectives and represent value for money for taxpayers. The Government previously published a Call for Evidence on SITR’s use to date. A response to the consultation will be published in due course and a decision on SITR’s future will be announced at the Budget ahead of its sunset clause in April 2021.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the extent to which employees being supported under the Coronavirus Job Retention Scheme are being required, unlawfully, to work for their employer while furloughed; and if he will make a statement.
Answered by Jesse Norman
The Coronavirus Job Retention Scheme forms part of a much wider national effort to protect people’s jobs. Fraudulent claims put at risk the provision of public services and the protection of livelihoods. They could include employers claiming on an employee’s behalf and not then paying them what they are entitled to, asking employees to do work while on furlough, or making a backdated claim that includes times when workers were working.
Employees can play a vital role by reporting fraudulent claims to HMRC, via their online fraud reporting tool: https://www.gov.uk/government/organisations/hm-revenue-customs/contact/customs-excise-and-vat-fraud-reporting.
Compliance investigations are now under way. HMRC are checking claims made through this scheme. Payments may be withheld or need to be repaid in full to HMRC if the claim is based on dishonest or inaccurate information or found to be fraudulent.
HMRC have made clear that they will not hesitate to act on reports of abuse. The first arrest made in relation to CJRS fraud was on 8 July 2020.
Asked by: Stephen Timms (Labour - East Ham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to Q82 of the oral evidence taken before the Treasury Committee on 4 November 2020, HC950, what plans the Financial Conduct Authority has to set a target for take-up of Pensions Wise.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the right honourable Gentleman’s question by letter. A copy of the letter will be placed in the Library of the House.