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917162

registered interest
date	04/06/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Students: Private Rented Housing
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to The Guardian article entitled Revealed: the developers cashing in on privatisation of student housing, published on 27 May 2018, what his Department's policy is on private providers of student accommodation using offshore companies to minimise their tax liability, and whether his Department is taking steps to limit that practice.
tabling member constituency	Denton and Reddish
tabling member printed	Andrew Gwynne
uin	149630
answer	answer is ministerial correction date of answer 12/06/2018 answer text <p>Like UK companies non-resident companies pay tax on their rental income from UK properties. There are commercial reasons for UK property being held through non-UK resident companies. However, the government has taken action to remove the tax advantages available from holding UK property through offshore companies. This action includes:</p><ul><li><p>making sure that offshore property developers are taxed on the profits they make from developing UK land;</p></li><li><p>from April 2019 taxing non-residents on all the gains they make from UK land and buildings;</p></li><li><p>and from April 2020, moving the taxation of rental income received by offshore companies from income tax to corporation tax will ensure that the same tax rules and tax rates will apply to property income no matter where the company is resident.</p><p>This action will raise significant tax revenue, and will ensure a fairer system for taxing income and gains on UK property.</p></li></ul> answering member constituency Central Devon answering member printed Mel Stride question first answered 12/06/2018 10:33:44 answering member 3935 label Biography information for Mel Stride
tabling member	1506 label Biography information for Andrew Gwynne

917163

registered interest
date	04/06/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Students: Private Rented Housing
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 tax liabilities of (a) private companies and (b) overseas investors that collect rental income from student accommodation.
tabling member constituency	Denton and Reddish
tabling member printed	Andrew Gwynne
uin	149631
answer	answer is ministerial correction date of answer 12/06/2018 answer text <p>HMRC collects and holds information on income from property, including rental income, from companies, partnerships and individuals through company and self-assessment tax returns. However, information provided in tax returns is not detailed enough to isolate and identify rental income from student accommodation from other types of property income. Therefore it is not possible to identify businesses that collect rental income from student accommodation, or to make an estimate of their tax liabilities arising from such activities.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 12/06/2018 10:59:00 answering member 3935 label Biography information for Mel Stride
tabling member	1506 label Biography information for Andrew Gwynne