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732325

	registered interest
	date	23/06/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to the Prime Minister's oral contribution of 21 June 2017, Official Report, column 61, what estimate the Government has made of the additional revenue that will be accrued to the public purse as a result of reductions in the rate of corporation tax.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	957
	answer	answer is ministerial correction date of answer 28/06/2017 answer text <p>OECD analysis concludes that corporate taxes are the most harmful type of tax for economic growth. Cutting corporation tax allows companies to invest in expanding their business, boost wages, create jobs and lower prices for consumers.</p><p> </p><p>Despite cutting the rate, onshore corporation tax receipts have increased by over 50% from £36.2 billion in 2010-11 to £54.3 billion in 2016-17, above their pre-crisis peak. The Office for Budget Responsibility have projected receipts to increase further to £54.8 billion in 2021-22.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 28/06/2017 13:38:36 answering member 3935 label Biography information for Mel Stride
	tabling member	4470 label Biography information for Alan Brown

754512

	registered interest
	date	20/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 28 June 2017 to Question 957, what the evidential basis is for the increase in corporation tax receipts referred to being directly attributable to reductions in the rate of corporation tax.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	6391
	answer	answer is ministerial correction date of answer 11/09/2017 answer text <p>The OECD has found that cutting corporation taxes can increase GDP, and this is backed up by Government modelling in 2016 which estimated that cuts announced since 2010 could increase GDP by up to 1.3% in the long run. The increased profits, wages, employment and consumption that come with higher growth all feed through into higher tax revenues.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 11/09/2017 16:02:21 answering member 3935 label Biography information for Mel Stride
	tabling member	4470 label Biography information for Alan Brown

753090

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what effect the reduction in corporation tax rates has had on receipts from that tax.
	tabling member constituency	Brentwood and Ongar
	tabling member printed	Alex Burghart
	uin	900566
	answer	answer is ministerial correction date of answer 18/07/2017 answer text <p>Since 2010, the headline corporation tax rate has been cut from 28 to 19 percent.</p><p> </p><p>Despite that, onshore corporation tax receipts have increased by over 50 percent, from £36.2 billion in 2010-11 to £55.1 billion in 2016-17.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 18/07/2017 14:48:56 answering member 3935 label Biography information for Mel Stride
	tabling member	4613 label Biography information for Alex Burghart

1006210

	registered interest
	date	13/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	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 effect of lowering the rate of corporation tax on corporation tax receipts since 2017.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	190819
	answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The OECD has concluded that corporation tax is the most harmful tax for growth and productivity.</p><p> </p><p>In April 2017, the corporation tax rate was reduced from 20% to 19%. This is the continuation of this government’s reduction in the rate from 28% in 2010.</p><p> </p><p>Lower corporation taxes can result in increased profits, wages, employment and consumption that all feed through into higher tax revenues that support our vital public services.</p><p> </p><p>Despite the rate cut in 2017, the onshore corporation tax revenues have increased from £53.6 billion in 2016-17 to £56.1 billion in 2017-18. Since 2010, onshore corporation tax revenues have increased by 55%.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/11/2018 15:35:46 answering member 3935 label Biography information for Mel Stride
	tabling member	1447 label Biography information for Andrew Rosindell

986448

	registered interest
	date	12/10/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	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 changes to the level of revenue accrued to the public purse of sections 860 to 862 of the Corporation Tax Act 2009.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	178532
	answer	answer is ministerial correction date of answer 17/10/2018 answer text <p>No assessment has been made of changes to the level of revenue accrued to the public purse of sections 860 to 862 of the Corporation Tax Act 2009.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 17/10/2018 16:41:34 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

993600

	registered interest
	date	23/10/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the money to be accrued to the public purse as a result of the single payment method outlined in the proposed amendments to Schedule 3ZB to the Tax Management Act 1970 contained in Clause 37 of the draft Finance Bill.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	182825
	answer	answer is ministerial correction date of answer 26/10/2018 answer text <p>The level of revenue accrued to the public purse as a result of the single payment method outlined in the proposed amendments to Schedule 3ZB to the Tax Management Act 1970 is expected to be negligible. The UK already has comprehensive exit taxation rules, and the change is relatively minor and primarily of an administrative nature.</p><p> </p><p>More information can be found in the Tax Information and Impact Note published on 6 July 2018:</p><p> </p><p><a href="https://www.gov.uk/government/publications/changes-to-the-corporation-tax-exit-charges" target="_blank">https://www.gov.uk/government/publications/changes-to-the-corporation-tax-exit-charges</a></p><p> </p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 26/10/2018 13:49:18 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

830050

	registered interest
	date	24/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the total sum of revenue that it has generated from the gradual reductions in the rate of corporation tax since 2010.
	tabling member constituency	Hitchin and Harpenden
	tabling member printed	Bim Afolami
	uin	124758
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>Since 2010 the Government has reduced the rate of Corporation Tax from 28 per cent to 19 per cent today, and has announced a further reduction to 17 per cent from 1 April 2020.</p><p> </p><p>The Exchequer costs of each rate reduction are certified by the Office for Budget Responsibility. They are published in Table 2.1 of the Budget or Autumn Statement document at announcement, and Table 2.2 of subsequent Budget documents until implementation.</p><p> </p><p>Despite lowering the rate, onshore Corporation Tax revenues have increased by around 50 per cent, from £36.2 billion in 2010-11 to £54.1 billion in 2016-17, and are above their pre-crisis peak.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:55:03 answering member 3935 label Biography information for Mel Stride
	tabling member	4639 label Biography information for Bim Afolami

748062

	registered interest
	date	04/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if the Government plans to bring corporation tax down to 17 per cent by 2020.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	2804
	answer	answer is ministerial correction date of answer 12/07/2017 answer text <p>The government legislated in the 2016 Finance Act to reduce the corporation tax rate to 17% in April 2020.</p><p> </p><p>We want to ensure the UK remains an attractive destination to set up and grow a business. Cutting corporation tax increases the returns companies receive on their investments, allowing them to increase investment, lower prices, hire staff or increase wages.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 12/07/2017 09:19:46 answering member 3935 label Biography information for Mel Stride
	tabling member	4523 label Biography information for Catherine West

753088

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what effect the reduction in corporation tax rates has had on receipts from that tax.
	tabling member constituency	North Warwickshire
	tabling member printed	Craig Tracey
	uin	900569
	answer	answer is ministerial correction date of answer 18/07/2017 answer text <p>Since 2010, the headline corporation tax rate has been cut from 28 to 19 percent.</p><p> </p><p>Despite that, onshore corporation tax receipts have increased by over 50 percent, from £36.2 billion in 2010-11 to £55.1 billion in 2016-17.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 18/07/2017 14:46:59 answering member 3935 label Biography information for Mel Stride
	tabling member	4509 label Biography information for Craig Tracey

837462

	registered interest
	date	05/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate HMRC made of the number of companies liable for corporation tax in (a) 2012-13, (b) 2013-14, (c) 2014-15, (d) 2015-16 and (e) 2016-17; how many such companies were sent a corporation tax return for an accounting period ending in each of those years; how many submitted the corporation tax return (i) within the required time limit and (ii) after the limit in each of those years; and how many such companies were not sent a corporation tax return or a reminder to submit one in each of those years.
	tabling member constituency	Barking
	tabling member printed	Dame Margaret Hodge
	uin	126581
	answer	answer is ministerial correction date of answer 12/02/2018 answer text <p>The table below sets out the number of taxpayers with Corporation Tax (CT) payable for 2012-13 to 2015-16. Corporation Tax is only payable for those companies with a taxable profit. The latest year for which figures are available is 2015-16.</p><p> </p><p>These figures are available in Table 11.3 of the Corporation Tax National Statistics publication: <a href="https://www.gov.uk/government/statistics/corporation-tax-number-of-companies-income-allowances-tax-liabilities-and-deductions" target="_blank">https://www.gov.uk/government/statistics/corporation-tax-number-of-companies-income-allowances-tax-liabilities-and-deductions</a></p><p><strong> </strong></p><table><tbody><tr><td><p> </p></td><td><p>2012-13</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td></tr><tr><td><p>Number of taxpayers with Corporation Tax payable</p></td><td><p>1,030,748</p></td><td><p>1,115,416</p></td><td><p>1,229,502</p></td><td><p>1,369,397</p></td></tr></tbody></table><p> </p><p>HM Revenue and Customs (HMRC) sends a notice to file a Company Tax return to every company which it believes to be active, so with any possibility of having a CT liability.</p><p> </p><p>A notice to file a return is for an accounting period of up to one year and is sent to a company in the month following the end of the period. The time limit for submitting the return is one year after the end of the period, but some returns are received after the time limit.</p><p> </p><p>HMRC sent the following number of notices to file in respect of accounting periods ending in the following years:</p><p> </p><table><tbody><tr><td><p>Year</p></td><td><p>Number of notices to file (thousands)</p></td></tr><tr><td><p>2012/13</p></td><td><p>1,980</p></td></tr><tr><td><p>2013/14</p></td><td><p>2,102</p></td></tr><tr><td><p>2014/15</p></td><td><p>2,431</p></td></tr><tr><td><p>2015/16</p></td><td><p>2,733</p></td></tr><tr><td><p>2016/17</p></td><td><p>3,020</p></td></tr></tbody></table><p> </p><p>The figures include more than one notice for some companies, for example ones that are recently incorporated.</p><p> </p><p>This represents HMRC’s estimate of the number of companies that might be within the charge to CT.</p><p><strong> </strong></p><p>The information in respect of the number of returns submitted within the required time limit, number of returns submitted after the limit, the number of companies not sent a CT return or a reminder to submit is not centrally collated by HMRC. Information on the number of notifications to file by parliamentary constituency is not readily available.</p><p><strong> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 126584 question first answered 12/02/2018 15:38:24 answering member 3935 label Biography information for Mel Stride
	tabling member	140 label Biography information for Dame Margaret Hodge