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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

922516

	registered interest
	date	12/06/2018
	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, pursuant to the Answer of 12 June to Question 149631 on students: private rented housing, whether he plans to devise a method to identify businesses that collect rental income from student accommodation.
	tabling member constituency	Denton and Reddish
	tabling member printed	Andrew Gwynne
	uin	152688
	answer	answer is ministerial correction date of answer 20/06/2018 answer text <p>HMRC do not collect this information because identifying lettings expressly to students rather than to other persons does not lead to any specific tax effect.</p><p> </p><p>Collection of this further information by HMRC would require businesses to identify and distinguish between income received from the rental of student accommodation and that received through other rentals. This would impose additional reporting obligations on businesses.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 20/06/2018 15:16:55 answering member 3935 label Biography information for Mel Stride
	tabling member	1506 label Biography information for Andrew Gwynne

917165

	registered interest
	date	06/06/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Life Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, Energy and Industrial Strategy, whether he has held recent discussions with the insurance industry on consumer rights relating to life insurance products; and if he will make a statement.
	tabling member constituency	Denton and Reddish
	tabling member printed	Andrew Gwynne
	uin	149633
	answer	answer is ministerial correction date of answer 12/06/2018 answer text <p>The government remains in regular discussion with the insurance industry, the Financial Conduct Authority (FCA) and other interested parties on the functioning of the insurance industry in the UK.</p><p> </p><p>The government is focused on ensuring that everyone has access to suitable insurance products.</p><p> </p><p>The Financial Conduct Authority (FCA) is directly responsible for regulating and supervising the financial services industry, including insurance firms. It sets the conduct standards required of insurers, which aim to ensure that consumers are treated fairly and can access appropriate insurance products.</p><p> </p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 12/06/2018 14:07:03 answering member 4051 label Biography information for John Glen
	tabling member	1506 label Biography information for Andrew Gwynne