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885141

	registered interest
	date	17/04/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	What steps he is taking to support businesses and strengthen the market economy.
	tabling member constituency	Witney
	tabling member printed	Robert Courts
	uin	904792
	answer	answer is ministerial correction date of answer 17/04/2018 answer text <p>This government aims to create an environment to help businesses to succeed. We are keeping taxes low, and ensuring firms can access the skills and support they need.</p><p> </p><p>We have cut corporation tax to 19%, the lowest rate in the G20, and are developing a National Retraining Scheme so we are ready to seize opportunities in the new economy.</p><p> </p><p>It is through measures like these, and the power of a vibrant and competitive market economy, that we will further drive growth and prosperity, encourage innovation and help raise living standards across the UK</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/04/2018 15:01:39 answering member 4051 label Biography information for John Glen
	tabling member	4589 label Biography information for Robert Courts

858523

	registered interest
	date	09/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how much was paid out in Lifetime Allowance charges in each year between 2010-2011 to 2017-2018; and what estimate he has made of the amount to be paid in (a) 2018-19, (b) 2019-2020 and (c) 2010-21.
	tabling member constituency	Witney
	tabling member printed	Robert Courts
	uin	131778
	answer	answer is ministerial correction date of answer 19/03/2018 answer text <p>Individuals whose pension savings exceed the Lifetime Allowance (LTA) are generally liable for tax when payments are made from their pension scheme.</p><p>Tax paid on LTA charges for 2010/11 to 2017/18 (year to date)</p><table><tbody><tr><td><p>Tax Year</p></td><td><p>Total tax paid (rounded to the nearest £10m</p></td></tr><tr><td><p>2010/11</p></td><td><p>£10 million</p></td></tr><tr><td><p>2011/12</p></td><td><p>£20 million</p></td></tr><tr><td><p>2012/13</p></td><td><p>£20 million</p></td></tr><tr><td><p>2013/14</p></td><td><p>£40 million</p></td></tr><tr><td><p>2014/15</p></td><td><p>£40 million</p></td></tr><tr><td><p>2015/16</p></td><td><p>£80 million</p></td></tr><tr><td><p>2016/17</p></td><td><p>£110 million</p></td></tr><tr><td><p>2017/18</p></td><td><p>£120 million[1]</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>Numbers provided for tax collected may be subject to significant change over time as in some cases pension providers can claim back tax paid. For example, this can occur where an individual has protections above the current Lifetime Allowance, or where not all of the payment would have been subject to the Lifetime Allowance.</p><p> </p><p>HMRC does not have estimates for future payments of LTA charges for 2018-19, 2019-20 or 2020-21. Any tax received from LTA charges forms a part of the overall Income Tax forecast.</p><p> </p><p>[1] Please note the 2017/18 tax year runs until April 2018, and so further tax charges could come through for this year which are not reflected in the above tables. The number provided represents a <em>year-to-date </em>figure.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/03/2018 14:11:18 answering member 4051 label Biography information for John Glen
	tabling member	4589 label Biography information for Robert Courts