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1300694
registered interest false more like this
date less than 2021-03-09more like thismore than 2021-03-09
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Financial Institutions: Disclosure of Information more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what steps his Department has taken to ensure that banks, building societies and other financial institutions report accurate financial data to HMRC; and what redress is available in the event of financial institutions’ non-compliance. more like this
tabling member constituency Coventry South more like this
tabling member printed
Zarah Sultana more like this
uin 165686 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-03-17more like thismore than 2021-03-17
answer text <p>Banks, building societies and other financial institutions are required to provide a variety of information returns to HM Revenue and Customs (HMRC) on an accurate and timely basis. They are subject to HMRC’s usual compliance processes and if the information provided is late or found to be inaccurate following a compliance check, the taxpayer may be subject to penalties.</p><p> </p><p>The UK’s largest businesses, which includes many financial institutions, are subject to an enhanced risk review, as part of HMRC’s Business Risk Review process.</p><p> </p><p>In addition to this, over 98% of banks and building societies are signatories to the Code of Practice on Taxation for Banks. Their commitments under the Code include complying with their tax obligations, which include providing accurate information to HMRC, as well as maintaining a transparent relationship with HMRC. If a signatory is found to be in breach of these commitments, HMRC are able to disclose this, naming the bank in their annual report on the Code.</p>
answering member constituency Hereford and South Herefordshire more like this
answering member printed Jesse Norman more like this
question first answered
less than 2021-03-17T13:52:45.847Zmore like thismore than 2021-03-17T13:52:45.847Z
answering member
3991
label Biography information for Jesse Norman more like this
tabling member
4786
label Biography information for Zarah Sultana remove filter
1300142
registered interest false more like this
date less than 2021-03-08more like thismore than 2021-03-08
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Protective Clothing: VAT Zero Rating more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the VAT exemption on personal protective equipment available for (a) funeral homes and (b) other businesses. more like this
tabling member constituency Coventry South more like this
tabling member printed
Zarah Sultana more like this
uin 164644 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-03-11more like thismore than 2021-03-11
answer text <p>The temporary zero rate was an extraordinary measure introduced to help affected sectors such as hospitals and care homes during the initial acute period of the COVID-19 crisis, when global supply of PPE did not meet demand and PPE was procured directly from the open market.</p><p> </p><p>Companies in the funeral sector source their own PPE through their normal supply routes. In extreme circumstances, there is provision for them to approach their Local Resilience Forum (LRF) or local authority, where the LRF has stood down, to discuss access to an emergency supply. Given this, there are no plans to review the VAT treatment of PPE.</p> more like this
answering member constituency Hereford and South Herefordshire more like this
answering member printed Jesse Norman more like this
question first answered
less than 2021-03-11T12:47:18.823Zmore like thismore than 2021-03-11T12:47:18.823Z
answering member
3991
label Biography information for Jesse Norman more like this
tabling member
4786
label Biography information for Zarah Sultana remove filter