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1125251

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Children: Maintenance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps HMRC takes to verify the income of people liable for child maintenance payments.
	tabling member constituency	Ochil and South Perthshire
	tabling member printed	Luke Graham
	uin	252011
	answer	answer is ministerial correction date of answer 14/05/2019 answer text <p>The Department for Work and Pensions (DWP) are responsible for the assessment of Child Maintenance payments, including the verification of the absent parent’s income. Upon request from DWP, HMRC provide information held on their National Insurance and PAYE Service, or their Self-Assessment Service. The information is made available under a Memorandum of Understanding, and is for the latest completed tax year.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/05/2019 12:40:56 answering member 4097 label Biography information for Elizabeth Truss
	tabling member	4622 label Biography information for Luke Graham

1125317

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money: Retail Trade
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of cashless shops on (a) low-income people and (b) poorer communities.
	tabling member constituency	Coventry South
	tabling member printed	Mr Jim Cunningham
	uin	251912
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>The Treasury has not made a specific assessment of the effect of cashless shops on (a) low-income people and (b) poorer communities.</p><p> </p><p>However, last year the Government initiated a discussion on payment methods through a Call for Evidence on Cash and Digital Payments in the New Economy. This sought to gather evidence on how changing preferences for cash and digital payments impact on different sectors, regions and demographics. A wide range of evidence was collected, including on the changing levels of cash usage, and a formal summary of responses was published in May 2019.</p><p> </p><p>The response set out the Government’s commitment to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/05/2019 14:29:09 answering member 4051 label Biography information for John Glen
	tabling member	308 label Biography information for Mr Jim Cunningham

1125369

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment Agencies: Tax Avoidance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the level of involvement of recruitment agencies in disguised remuneration loans.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	252056
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>DR schemes are contrived arrangements that pay loans in place of ordinary remuneration, usually through an offshore trust, with the sole purpose of avoiding income tax and National Insurance contributions. The loans are provided on terms that mean they are not repaid in practice, so they are no different to normal income and are, and always have been, taxable.</p><p> </p><p>HM Revenue and Customs (HMRC) will always seek payment of the loan charge from employers in the first instance. It is only where HMRC cannot reasonably collect from the employer, for example where the employer is no longer in existence or is based offshore, that the individual will be liable to pay the tax due. Around 75% of overall yield from the measure is expected to come from employers.</p><p> </p><p>Only an employer, or umbrella company established for the purpose, can originate a DR scheme. Recruitment agencies match individuals with engagers who require their labour. In most cases recruitment agencies do not employ the individual in question. Where a recruitment agency used a DR scheme to reward their employees they will be liable to pay the loan charge in the first instance.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 252057 question first answered 13/05/2019 15:46:10 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1125370

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment Agencies: Tax Avoidance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many recruitment agencies have been implicated in loan charge cases.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	252057
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>DR schemes are contrived arrangements that pay loans in place of ordinary remuneration, usually through an offshore trust, with the sole purpose of avoiding income tax and National Insurance contributions. The loans are provided on terms that mean they are not repaid in practice, so they are no different to normal income and are, and always have been, taxable.</p><p> </p><p>HM Revenue and Customs (HMRC) will always seek payment of the loan charge from employers in the first instance. It is only where HMRC cannot reasonably collect from the employer, for example where the employer is no longer in existence or is based offshore, that the individual will be liable to pay the tax due. Around 75% of overall yield from the measure is expected to come from employers.</p><p> </p><p>Only an employer, or umbrella company established for the purpose, can originate a DR scheme. Recruitment agencies match individuals with engagers who require their labour. In most cases recruitment agencies do not employ the individual in question. Where a recruitment agency used a DR scheme to reward their employees they will be liable to pay the loan charge in the first instance.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 252056 question first answered 13/05/2019 15:46:10 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1125372

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Tax Avoidance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is undertaking a review of internal (a) advice and (b) procedures on public sector organisations engaging in tax avoidance schemes.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	252058
	answer	answer is ministerial correction date of answer 13/05/2019 answer text HMRC is committed to tackling tax avoidance and evasion at all levels to ensure that everyone, no matter who they are, pays the right amount of tax at the right time. It keeps its policies under constant review, including those affecting public sector bodies. HMRC works closely with public bodies to support them with their tax affairs and ensure they pay the right amount. answering member constituency Central Devon answering member printed Mel Stride question first answered 13/05/2019 15:50:04 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1125482

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Asset Resolution
	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 adequacy of the safeguards and mechanisms put in place by his Department and the Financial Conduct Authority between 2012 and 2018 in respect of the sale of UKAR loans to ensure that loan holders were able to transfer or get better terms from other regulated lenders instead of those companies to whom AKAR had sold their loans.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	251931
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.</p><p> </p><p>Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority’s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.</p><p> </p><p>In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.</p><p> </p><p>The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR’s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.</p><p> </p><p>Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.</p><p> </p><p>That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK’s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.</p><p> </p><p>HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 251932 251933 251934 question first answered 13/05/2019 14:27:34 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1125483

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Asset Resolution
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment (a) his Department and (b) the Financial Conduct Authority have made of the legal responsibility of TSB and other banks whose organisation or subsidiary have bought loans from UKAR to allow people who had such loans but are not their customers to transfer or switch to another mortgage loan provider.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	251932
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.</p><p> </p><p>Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority’s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.</p><p> </p><p>In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.</p><p> </p><p>The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR’s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.</p><p> </p><p>Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.</p><p> </p><p>That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK’s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.</p><p> </p><p>HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 251931 251933 251934 question first answered 13/05/2019 14:27:34 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1125484

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Asset Resolution
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 April 2019 to Question 243349, if he will publish the details of the proportion of Northern Rock mortgage holders' loans that were sold to (a) inactive and (b) unregulated lenders between 2011 and 2018.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	251933
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.</p><p> </p><p>Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority’s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.</p><p> </p><p>In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.</p><p> </p><p>The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR’s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.</p><p> </p><p>Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.</p><p> </p><p>That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK’s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.</p><p> </p><p>HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 251931 251932 251934 question first answered 13/05/2019 14:27:34 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1125485

	registered interest
	date	08/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Asset Resolution
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions (a) he and (b) Ministers of his Department have had with the Financial Conduct Authority on whether Cerberus Capital Management is a fit and proper organisation to purchase mortgage loans from UK banks and his Department via UKAR.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	251934
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.</p><p> </p><p>Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority’s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.</p><p> </p><p>In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.</p><p> </p><p>The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR’s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.</p><p> </p><p>Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.</p><p> </p><p>That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK’s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.</p><p> </p><p>HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 251931 251932 251933 question first answered 13/05/2019 14:27:35 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden