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177084

registered interest
date	02/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent steps he has taken to encourage banks to offer their services to money service businesses.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	222940
answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The UK Government is committed to supporting a healthy and legitimate remittance sector, and ensuring that UK citizens are able to continue to remit funds safely to family abroad. That is why, in response to the withdrawal of banking services from the Money Service Business sector we set up an Action Group on Cross Border Remittances to address this issue. The group is monitoring changes to the market, has developed guidance for MSBs and banks and is promoting a shared understanding of risk. The group is also overseeing the development of a Safer Corridor to ensure the continued, secure flow of remittances to Somalia.</p><p> </p><p> </p><p> </p><p>Treasury Ministers have been engaging closely with the banking industry both through the British Bankers Association and directly with those banks involved in this issue, including personally writing to and phoning a number of banks.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 04/02/2015 12:29:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1586 label Biography information for Adam Afriyie

176719

registered interest
date	29/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of (a) levels of bank account switching by customers, (b) trends in bank account switching in the last three years, (c) the average time it takes for customers to switch banks and (d) the process for switching banks and customers' perceptions of the ease or difficulty of so doing.
tabling member constituency	Esher and Walton
tabling member printed	Mr Dominic Raab
uin	222656
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The Government charged the UK banking industry with delivering a new Current Account Switch Service to make it simpler, safer, and faster to switch current account providers. The new service launched in September 2013, and so far has had a positive impact with switching levels increasing by 22 per cent in its first year, compared to the previous year.</p><p> </p><p> </p><p> </p><p>The Payments Council publish a “switching dashboard” quarterly, which is available on their website and includes information on awareness, confidence, service performance, and switching levels.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/02/2015 10:14:26 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4007 label Biography information for Dominic Raab

176339

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Residence: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much (a) has been and (b) is expected to be raised by the annual charge for non-domiciled individuals who elect to pay tax on the remittance basis and who have lived in the UK for (i) seven of the last nine years, (ii) 12 of the last 14 years and (iii) 17 of the last 20 years in (A) 2012-13, (B) 2013-14, (C) 2014-15, (D) 2015-16 and (E) 2016-17.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	222440
answer	answer is ministerial correction date of answer 02/02/2015 answer text <p>The Remittance Basis Charge is for resident non-domiciled individuals who elect to be taxed on the remittance basis. The charge is set at £30,000 for those individuals who had been resident in the UK for at least 7 of the last 9 years and longer.</p><p> </p><p> </p><p> </p><p>From the start of the 2012-13 tax year, a new £50,000 charge was also introduced for those individuals who had been resident in the UK for at least 12 of the last 14 years and longer.</p><p> </p><p> </p><p> </p><p>The amount of revenue raised by the annual Remittance Basis Charge for non-domiciled individuals in each tax year since 2008-09, rounded to the nearest million, is as follows:</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p>Tax Year</p></td><td><p>Charge Paid</p></td><td><p>Revenue Raised</p></td></tr><tr><td><p>2008-09</p></td><td><p>£30,000</p></td><td><p>£162m</p></td></tr><tr><td><p>2009-10</p></td><td><p>£30,000</p></td><td><p>£157m</p></td></tr><tr><td><p>2010-11</p></td><td><p>£30,000</p></td><td><p>£165m</p></td></tr><tr><td><p>2011-12</p></td><td><p>£30,000</p></td><td><p>£167m</p></td></tr><tr><td><p>2012-13</p></td><td><p>£30,000 or £50,000 (depending on length of residency)</p></td><td><p>£226m</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>The amount of revenue raised by the annual Remittance Basis Charge for non-domiciled individuals in the 2012-13 tax year, broken down by the time they have spent in the UK and rounded to the nearest million, is as follows:</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p>Years Resident</p></td><td><p>Charge Paid</p></td><td><p>Amount Raised</p></td></tr><tr><td><p>7 of the last 9</p></td><td><p>£30,000</p></td><td><p>£43m</p></td></tr><tr><td><p>12 of the last 14</p></td><td><p>£50,000</p></td><td><p>£183m</p></td></tr><tr><td> </td><td><p>Total</p></td><td><p>£226m</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>The figures for the 2013-14 tax year onwards are not yet available.</p><p> </p><p> </p><p> </p><p>The expected exchequer impact of the changes to the Remittance Basis Charge announced at Autumn Statement 2014 is set out on page 41 of the policy costings document, available on GOV.UK at the following link: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/384071/AS2014_policy_costings_final.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/384071/AS2014_policy_costings_final.pdf</a></p><p> </p><p> </p><p> </p><p>The final exchequer impact is affected by behavioural responses to the policy, as explained in the policy costings document.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 02/02/2015 17:42:40 answering member 1529 label Biography information for Mr David Gauke
tabling member	308 label Biography information for Mr Jim Cunningham

176341

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Bonds: Pensioners
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many applications for 65-plus Guaranteed Growth Bonds requested the full allowances of (a) £10,000 per bond, (b) £20,000 for both bonds and (c) £40,000 for combined holders.
tabling member constituency	Airdrie and Shotts
tabling member printed	Pamela Nash
uin	222470
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The 65+ “Pensioner” Bond launch has had the biggest opening sales of any retail financial product in Britain’s modern history.</p><p> </p><p> </p><p> </p><p>Detailed figures on different aspects of the sale cannot reliably be given for a bond which is still on sale, and this is particularly the case for an issuance of this size.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 221927 222447 222448 question first answered 03/02/2015 18:00:20 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3909 label Biography information for Pamela Nash

176343

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Bonds: Pensioners
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what his Department plans to happen to the ownership of the 65-plus Guaranteed Growth Bonds in the event of a bondholder's death.
tabling member constituency	Airdrie and Shotts
tabling member printed	Pamela Nash
uin	222505
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>As set out in the NS&amp;I 65+ Guaranteed Growth Bonds digital brochure, 65+ Bonds can be cashed in without penalty after the death of a sole, or last surviving Bond holder.</p><p> </p><p>Generally, consent will be given to transfers in the case of inheritance (although the recipient must be aged 65 of over to hold the bond) but will not give consent to any transfer which is by way of sale.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/02/2015 14:05:19 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3909 label Biography information for Pamela Nash

176344

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Bonds: Pensioners
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what criteria were used to determine eligibilty for the 65-plus Guaranteed Growth Bonds; and for what reason the qualifying age was set at 65 years.
tabling member constituency	Airdrie and Shotts
tabling member printed	Pamela Nash
uin	222506
answer	answer is ministerial correction date of answer 02/02/2015 answer text <p>Low interest rates have played an important part in stimulating the recovery over the past few years. But there are those – especially pensioners – who rely on a reasonable rate of interest on their savings as a key source of income in their retirement. Therefore these bonds are designed to support them by providing a good return. 65 years was chosen as the requisite age for the Bonds because at this age in 2015 both men and women will be in receipt of a state pension.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/02/2015 15:57:44 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3909 label Biography information for Pamela Nash

176345

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Bonds: Pensioners
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many higher-rate and additional rate taxpayer purchasers of 65-plus Guarantee Growth Bonds have declared the interest payable on these bonds to HM Revenue and Customs.
tabling member constituency	Airdrie and Shotts
tabling member printed	Pamela Nash
uin	222608
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The data requested is not available. No interest has yet been paid on any 65+ Guaranteed Growth Bond.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 03/02/2015 14:15:09 answering member 1529 label Biography information for Mr David Gauke
tabling member	3909 label Biography information for Pamela Nash

176346

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the cost to the public purse of businesses invoicing VAT on goods and services discounted for early payment in cases when the discount is not subsequently applied.
tabling member constituency	High Peak
tabling member printed	Andrew Bingham
uin	222368
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The introduction of this measure will protect over £250 million pounds of tax revenue per annum.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 03/02/2015 14:01:16 answering member 1529 label Biography information for Mr David Gauke
tabling member	3994 label Biography information for Andrew Bingham

176347

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make an estimate of the cost to businesses of the requirement to double invoice VAT on goods and services which have been discounted for early payment.
tabling member constituency	High Peak
tabling member printed	Andrew Bingham
uin	222367
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>There is no requirement to double invoice.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 03/02/2015 14:14:01 answering member 1529 label Biography information for Mr David Gauke
tabling member	3994 label Biography information for Andrew Bingham

176348

registered interest
date	28/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Bonds: Pensioners
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many and what value of 65-plus Guaranteed Growth Bonds have been sold to applicants from (a) Northern Ireland, (b) Scotland, (c) Wales and (d) England.
tabling member constituency	Airdrie and Shotts
tabling member printed	Pamela Nash
uin	222448
answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The 65+ “Pensioner” Bond launch has had the biggest opening sales of any retail financial product in Britain’s modern history.</p><p> </p><p> </p><p> </p><p>Detailed figures on different aspects of the sale cannot reliably be given for a bond which is still on sale, and this is particularly the case for an issuance of this size.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 221927 222447 222470 question first answered 03/02/2015 18:00:20 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3909 label Biography information for Pamela Nash