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1712907

	registered interest
	date	22/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Nurseries: Business Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to support nurseries experiencing financial challenges as a result of increased business rates.
	tabling member constituency	Nottingham East
	tabling member printed	Nadia Whittome
	uin	23085
	answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The government recognises the pressure that businesses have been under since the pandemic and that is why the government froze the business rates multiplier for three consecutive years from April 2021 until April 2024 at a cost of £14.5 billion.</p><p> </p><p>To make sure that the most vulnerable businesses continue to be supported, the government announced a further freeze to the small business multiplier at Autumn Statement for 2024-25, which will protect over a million ratepayers from a multiplier increase. This means bills will be 6.6 per cent lower than without the freeze. In addition to this support, some nurseries will already be in receipt of business rates relief where they have a ‘charitable purpose’, such as those part of academy chains.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 26/04/2024 14:34:57 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4869 label Biography information for Nadia Whittome

1713187

	registered interest
	date	23/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he plans to take in the 2024-25 financial year to help tackle crypto currency fraud.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	23147
	answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The Government takes the issue of fraud very seriously, and published a comprehensive Fraud Strategy in May last year. Through this the Government will work: with industry to remove the vulnerabilities that fraudsters exploit; with intelligence agencies to shut down fraudulent infrastructure; with law enforcement to identify and bring the most harmful offenders to justice; and with all partners to ensure that the public have the advice and support they need</p><p><br>Further, the Financial Conduct Authority (FCA) commenced enforcement of the cryptoassets financial promotion regime in October last year, requiring such promotions to be fair, clear and not misleading. This is aimed at improving consumers’ understanding of the risks and benefits associated with cryptoasset purchases and ensuring that cryptoasset promotions are held to the same standards as similar risk financial services products. In the next phase of its work, the Government is creating a comprehensive financial services regulatory regime for cryptoassets in the UK.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/04/2024 13:07:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	1409 label Biography information for Mr Gregory Campbell

1702387

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he is developing economic models to forecast (a) price trends and (b) growth potential in cryptocurrencies.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22784
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Government is not developing economic models to forecast cryptoasset trends. Rather, it uses information from a range of sources to understand broad trends in the market in order to inform policy development.</p><p>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets, and is currently working to deliver legislation giving effect to its proposals. As part of this, the government will publish analysis of the impacts of its legislation on cryptoasset businesses in scope of the forthcoming regime in the usual way.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 09:27:23 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1702391

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Fines
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether self-employed individuals who file their tax returns late but owe no tax are penalised.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22787
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>HMRC issues SA tax returns to customers when the information they hold suggests that the customer meets the published criteria for completing one. HMRC often cannot determine someone’s tax liability until they have sent in a tax return, therefore they need the return to establish whether there is tax due or not.​​ Late filing and payment penalties are charged to encourage customers to file on time but we can cancel a customer’s late filing penalty if they have a reasonable excuse. Customers can also ask HMRC to remove them from the SA process for future years if they no longer meet the criteria.​</p><p> </p><p>From October 2011 the penalty legislation changed, from this point the capping of penalties was no longer factored into the calculation and any fixed penalty applied remained at the full amount regardless of liability.</p><p> </p><p>Although no change to the current penalty regime has been announced, Penalty Reform within Making Tax Digital will change the way we calculate penalties for late Submission and late payment of tax. The new legislation will factor in the Liability amount, Filing frequency and length of time outstanding within its penalty calculations.</p><p> </p><p>In reforming late payment and late filing penalties HMRC’s aim is to encourage those who persistently default to comply with their tax obligations rather than penalise those who make occasional errors.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 25/04/2024 09:29:08 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1712888

	registered interest
	date	22/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with (a) Cabinet colleagues and (b) officials in his Department on compensation and support for affected Equitable Life policyholders.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	23080
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any previous decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 12:10:54 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1701550

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Holiday Accommodation: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to paragraph 5.67, page 75 of the Spring Budget 2024, what assessment he has made of the potential impact of the abolition of the Furnished Holiday Lettings tax regime on the number of businesses that will (a) continue as short-term holiday lets, (b) become longer term rental properties and (c) sell the property in question.
	tabling member constituency	North West Norfolk
	tabling member printed	James Wild
	uin	22169
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government has announced that it will abolish the Furnished Holiday Lettings (FHL) tax regime from April 2025.</p><p> </p><p>The Government will publish draft legislation, explanatory notes, and a tax information and impacts note in due course.</p><p> </p><p>As with all aspects of tax policy, the Government keeps the taxation of property landlords under review and any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 14:22:05 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4787 label Biography information for James Wild

1701575

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Motor Vehicles: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has plans to use revenue raised through the increase in car tax from 1 April 2024 to support (a) public transport and (b) environmental initiatives.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22111
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Consolidated Fund receives the proceeds of Vehicle Excise Duty (VED) and most other tax revenues. VED is being reinvested into the English road network between 2020-2025 to fund road enhancement projects. The Government uses the tax system to encourage the uptake of cars with low carbon dioxide (CO2) emissions to help meet our legally binding climate change targets.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 24/04/2024 14:20:15 answering member 4850 label Biography information for Gareth Davies
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701819

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Technology: New Businesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what incentives are available to encourage growth strategies among UK tech firms; and whether he plans to take steps to help increase the number of high-value tech companies based in the UK.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22367
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government is backing British business to drive long-term economic growth by tackling barriers to investment, cutting taxes and rewarding work, and by supporting the priority growth sectors, including digital technology, which are helping to turn the UK into the world’s next Silicon Valley. The UK has Europe’s leading tech ecosystem, valued at over $1trillion, and the government is acting to create the best environment for our most innovative tech companies to start, scale and stay in the UK. This includes making over £3.5 billion of public investment in the AI ecosystem since 2014, extending the sunset clause for the Enterprise Investment Scheme and the Venture Capital Trust scheme to 6 April 2035, making changes to simplify and improve R&amp;D tax reliefs, extending the British Business Bank’s Future Fund: Breakthrough investment programme, and implementing the measures the Chancellor announced at last year’s Mansion House speech to reform the pensions market to unlock investment into high growth sectors and generate increased returns for savers.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 24/04/2024 14:26:40 answering member 4850 label Biography information for Gareth Davies
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701889

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Self-assessment
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to support self-employed individuals who may struggle to file their tax returns on time due to economic difficulties; and whether he has made a recent assessment of the potential merits of reforming the penalty system.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22372
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>HMRC is committed to helping all taxpayers pay their taxes and urges anyone having difficulty to make contact as soon as possible. Time to Pay arrangements are available for taxpayers who cannot afford to make full payment of their tax when it is due. Also, a Budget Payment Plan service allows Self Assessment taxpayers to make advance payments. HMRC has recently published YouTube videos on GOV.UK to help the self-employed, including one about ‘How to budget for your Self-Assessment tax bill if you’re self-employed’.</p><p> </p><p>In Spring 2021 the government announced a new points-based penalty regime for regular tax return submission obligations, to replace existing penalties for VAT and Self Assessment. The new approach is fairer, with financial penalties arising only when the failure is consistent. For Self Assessment taxpayers, reformed penalties will begin when they join the Making Tax Digital (MTD) service for Self Assessment from April 2026 onwards.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 08:45:29 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701953

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Childcare: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 17 April 2024 to Question 21426 on Childcare: Taxation, if he will make it his policy to increase the childcare tax free cap in line with inflation.
	tabling member constituency	Belfast South
	tabling member printed	Claire Hanna
	uin	22418
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The £2,000 Tax-Free Childcare top-up, which can be claimed per year and per child, was set at this level because the Government believes it strikes the right balance between helping parents with their childcare costs, and managing the public finances in a responsible way.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 24/04/2024 08:47:48 answering member 4780 label Biography information for Laura Trott
	tabling member	4827 label Biography information for Claire Hanna