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1300694

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Institutions: Disclosure of Information
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	165686
answer	answer is ministerial correction date of answer 17/03/2021 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 answering member printed Jesse Norman question first answered 17/03/2021 13:52:45 answering member 3991 label Biography information for Jesse Norman
tabling member	4786 label Biography information for Zarah Sultana

1300142

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Protective Clothing: VAT Zero Rating
house id	1
legislature	25259 pref label House of Commons
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.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	164644
answer	answer is ministerial correction date of answer 11/03/2021 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> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/03/2021 12:47:18 answering member 3991 label Biography information for Jesse Norman
tabling member	4786 label Biography information for Zarah Sultana