Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to reduce inflation.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
Responsible decisions to support the Bank mean the UK has now turned a corner on inflation, but the government remains committed to ensuring inflation returns sustainably to its 2% target. There are four key things the government is doing to further reduce inflation whilst supporting growth:
The OBR has concluded that measures in the Spring Budget – primarily freezes to fuel and alcohol duty – will reduce CPI inflation by 0.2% in 2024-25.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many businesses have been penalised for marketing or promoting schemes subject to the loan charge as of 2 May 2023.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
A key part of HM Revenue & Customs’ (HMRC) 2020 strategy for tackling promoters of tax avoidance schemes, such as disguised remuneration (DR) schemes that are within scope of the Loan Charge, is to change their behaviour so that they stop this activity altogether.
HMRC uses a wide range of civil and criminal measures to tackle those who promote tax avoidance. For example, Finance Acts 2021 and 2022 provided HMRC with powers to publish the details of avoidance schemes and those who promote or operate them, in order to support taxpayers in identifying these schemes so they can steer clear or exit them.
HMRC has started to issue stop notices to promoters under the Promoters of Tax Avoidance Schemes legislation. These require them to stop promoting the tax avoidance scheme specified in the notice. Penalties of up to £1 million can be issued for failure to comply. In 2022, the First-Tier Tribunal imposed a penalty in excess of £1 million on a promoter for failing to disclose a scheme under the Disclosure of Tax Avoidance Schemes regime.
As a result of the action the Government has taken to clamp down on marketed tax avoidance, a number of major promoters have now cooperated with HMRC and have either stopped selling schemes or ceased business altogether, and the estimated tax gap from marketed avoidance sold primarily to individuals, has fallen from an estimated £1.5 billion in 2005-2006 to £0.4 billion in 2020-2021.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the number of people who may declare bankruptcy as a result of (a) the loan charge and (b) other related HM Revenue and Customs activity.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
I refer the Rt. Hon Member to the answer that I gave on 6 February to the Hon Members for Richmond Park, UIN 136718 and Strangford, UIN 137775.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the conclusions of the Morse Review, for what reason HMRC are pursuing people for pre-2010 tax years, in relation to Loan Charge legislation.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
In the 2019 Independent Loan Charge Review, Lord Morse recommended that the Loan Charge should only apply to loans made on or after 9 December 2010.
However, he was also clear that, for years before this date, where there is an open enquiry or assessment under appeal, HM Revenue and Customs (HMRC) should continue with enquiries and settling cases under their normal powers.
HMRC continues to work with and support taxpayers to resolve all outstanding enquiries and assessments relating to their use of disguised remuneration (DR) loans, in accordance with their published DR settlement terms and HMRC Litigation and Settlement Strategy.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to prevent suicides by people facing HMRC action in relation to Loan Charge legislation and disguised remuneration schemes.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
Any loss of life is a tragedy, and HMRC takes issues relating to loss of life or serious injury extremely seriously.
HMRC is committed to , wherever possible, identifying taxpayers who need extra help and giving them the support they need.
Taxpayers are supported by HMRC’s trained advisers. Where appropriate, they signpost taxpayers to voluntary and community organisations. To further improve the emotional support offered to taxpayers, HMRC's Extra Support Teams and Samaritans are working together to deliver an 18-month project. As part of the project, Samaritans will help strengthen HMRC’s Extra Support Teams by providing additional guidance to identify taxpayers who might be in vulnerable circumstances, and signpost them to support. Where needed, HMRC will signpost customers to a dedicated Samaritans helpline for specialist emotional support.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he can recover payments made to the Islamic Centre of England in Maida Vale, London, under the Coronavirus Job Retention Scheme as a result of that organisation's links with the Iranian government.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
We do not comment on the commercial or financial matters of identifiable organisations.
In designing the Coronavirus Job Retention Scheme, the Government has taken steps to protect public money against error, fraud, and abuse. Where the recipients of payments are found not to have been entitled to the money they have received, the Government has made provision for relevant powers and mechanisms to allow the money to be recovered and, where appropriate, penalties issued. These mechanisms have already been used to make recoveries and further compliance work is ongoing. However, there would be no basis for HMRC to set out to recover a grant from an employer that met the rules of the scheme.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent progress he has made on implementing the recommendations of the Taskforce on Innovation, Growth and Regulatory Reform relevant to his Department.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
HM Treasury welcomes the independent report from the Taskforce on Innovation, Growth and Regulatory Reform (TIGRR) and strongly supports its objective to ensure that the UK’s regulatory framework effectively facilitates innovation and growth. On 16 September 2021 Lord Frost set out the government’s response to the TIGGR report in a statement to the House of Lords, which was accompanied by a letter to Sir Iain Duncan Smith MP.
HM Treasury is progressing work relevant to a number of these recommendations. For example, new rules will come into effect on 1 December 2021 on disclosure of detailed costs and charges for professional clients and eligible counterparties.
More broadly, the Chancellor set out an ambitious vision for the financial services sector at his Mansion House speech in July. The government is clear that the UK has a unique opportunity to assess whether it wants to do things differently, to ensure the financial services sector has the right rules and regulations for UK markets, and to build a system that continues to be one the rest of the world looks towards.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will allow agricultural shows and agricultural showgrounds to continue to use red diesel given their classification by his Department and animal health bodies as agricultural and licensed and regulated as such.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
Following consultation in 2020, the Chancellor confirmed at Spring Budget 2021 that the Government will remove the entitlement to use red diesel from April 2022, other than for specific purposes, including vehicles and machinery used in agriculture, fish farming, forestry and horticulture.
The specific purposes where rebated diesel can be used in agriculture are set out at section 9 of Excise Notice 75: Fuel for use in vehicles, which is available at:
https://www.gov.uk/guidance/fuels-for-use-in-vehicles-excise-notice-75
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether agricultural shows and agricultural show grounds will qualify for the 50 per cent discount for Business Rates announced in the Budget 2021 for businesses in the hospitality, leisure and retail sectors.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
Guidance setting out eligibility for the 2022-23 retail, hospitality and leisure relief will be published by the Department for Levelling Up, Housing and Communities in due course.
Asked by: Theresa Villiers (Conservative - Chipping Barnet)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much money from covid-19 Government support schemes has been paid to UK (a) offices and (b) representatives of the Supreme Leader of Iran.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
HM Treasury does not comment on the commercial or financial matters of private firms.
However, data on the employers who have claimed through the Coronavirus Job Retention Scheme (CJRS) is published regularly. For monthly data on the employers who have claimed through the Coronavirus Job Retention Scheme (CJRS) since December 2020, please see the published information at the following link: https://www.gov.uk/government/publications/employers-who-have-claimed-through-the-coronavirus-job-retention-scheme. The November 2021 publication provides the data for claim periods from December 2020 to August 2021. These details are correct at the date of publishing.
Similarly, details of facilities made available to businesses under the covid loan schemes where required have either been published, or will be in the future, on the European Commission’s transparency database.