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answer › answer text	%3Cp%3E%3Cstrong%3EThe Small Business, Enterprise and Employment Bill, introduced today on 25 June includes a clause making provision that allows HM Revenue & Customs (HMRC) to release non-financial VAT registration data to qualifying organisations for the purposes of assessing credit worthiness, risk of fraud or compliance with financial regulations.%3C/strong%3E%3C/p%3E%3Cp%3E %3C/p%3E%3Cp%3E %3C/p%3E%3Cp%3E%3Cstrong%3EResearch indicates that this has the potential to release up to %C2%A31.8 billion worth of additional trade credit. Taking into account the differing circumstances of individual businesses, we estimate an actual take-up of between %C2%A30.7 and %C2%A31.4 billion.%3C/strong%3E%3C/p%3E
max date	2014-11-27
hansard heading	VAT

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uin

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answering member constituency

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62838

registered interest

date

19/06/2014

answering body

HM Treasury

answering dept id

answering dept short name

Treasury

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CaTreasury

hansard heading

VAT

house id

legislature

25259

	pref label	House of Commons

question text

To ask Mr Chancellor of the Exchequer, if he will publish details of the Government's proposed legislation to provide for a controlled release of non-financial VAT registration data for specific purposes.

tabling member constituency

Christchurch

tabling member printed

Mr Christopher Chope

uin

201571

answer

is ministerial correction

date of answer

25/06/2014

answer text

The Small Business, Enterprise and Employment Bill, introduced today on 25 June includes a clause making provision that allows HM Revenue & Customs (HMRC) to release non-financial VAT registration data to qualifying organisations for the purposes of assessing credit worthiness, risk of fraud or compliance with financial regulations. Research indicates that this has the potential to release up to £1.8 billion worth of additional trade credit. Taking into account the differing circumstances of individual businesses, we estimate an actual take-up of between £0.7 and £1.4 billion.

answering member constituency

South West Hertfordshire

answering member printed

Mr David Gauke

question first answered

25/06/2014 14:34:18

answering member

1529

	label	Biography information for Mr David Gauke

previous answer version

4984

answering member constituency

South West Hertfordshire

answering member printed

Mr David Gauke

answering member

1529

	label	Biography information for Mr David Gauke

tabling member

242

	label	Biography information for Sir Christopher Chope