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1306945

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Capital Gains Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the evidential basis was for not raising the Capital Gains Tax in line with Income Tax as part of Budget 2021.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	178615
	answer	answer is ministerial correction date of answer 15/04/2021 answer text <p>The Government keeps all taxes under review, and any changes are made at fiscal events within the context of wider public finances. As demonstrated in last month’s Budget, the Government’s priority is supporting jobs and the economic recovery from the pandemic.</p><p> </p><p>Any changes to the tax system will balance the need to raise revenue with the principles of fairness and market efficiency.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 15/04/2021 14:35:28 answering member 3991 label Biography information for Jesse Norman
	tabling member	4786 label Biography information for Zarah Sultana

1307211

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Sudan
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the Government's guidance is to UK-based banks on allowing money transfers to Sudan-based bank accounts.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	179605
	answer	answer is ministerial correction date of answer 19/04/2021 answer text <p>HM Treasury is responsible for the Money Laundering Regulations, which set out the high-level requirements on regulated firms to combat money laundering and ensure that key professionals verify their customers’ identities.</p><p>The Regulations are not prescriptive in setting out how firms should carry out customer due diligence and instead require firms to take a proportionate approach commensurate with their assessment of the risk. Each firm will therefore have their own policies on identification and customer due diligence, including on when additional, more comprehensive checks should be undertaken.</p><p>Specific guidance on how banks should conduct customer due diligence is published by the Joint Money Laundering Steering Group. This includes guidance on assessing the money laundering and terrorist financing risk associated with individual countries.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/04/2021 08:54:26 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1307047

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Taxis: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he has taken to support self-employed taxi drivers experiencing reductions in work as a result of the covid-19 outbreak and who require financial support to bridge the gaps between receipt of Self-Employment Income Support Scheme grants.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	179604
	answer	answer is ministerial correction date of answer 15/04/2021 answer text <p>The Government recognises that this is a challenging time for many sectors and individuals, including self-employed taxi drivers.</p><p> </p><p>The Government has acted to support those that are self-employed and have been affected by the COVID-19 outbreak, and announced at Budget 2021 that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant.</p><p> </p><p>The Government will have spent over £33 billion supporting those in self-employment through the SEISS, making it one of the most generous self-employment income COVID-19 support schemes in the world.</p><p> </p><p>The SEISS is not intended to provide a month-by-month replacement of income. Due to the volatility of self-employed income and the lack of granular data that HMRC holds on self-employed trading profits, precise mapping of income replacement month by month is not possible. Instead, the SEISS provides a lump sum payment to support eligible self-employed individuals whose businesses have been affected by coronavirus.</p><p> </p><p>The SEISS is just one part of a wider package of support for the self-employed, which includes automatic, self-serve time-to-pay arrangements, loans, welfare support, and other business support grants.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 15/04/2021 14:34:11 answering member 3991 label Biography information for Jesse Norman
	tabling member	4786 label Biography information for Zarah Sultana

1307046

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he has taken to support self-employed people who have had no financial income for the duration of the covid-19 restrictions and lockdowns who are ineligible for support through universal credit or the Self-Employment Income Support Scheme.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	179603
	answer	answer is ministerial correction date of answer 15/04/2021 answer text <p>The Self-Employment Income Support Scheme (SEISS) has provided and will continue to provide generous support to self-employed people who meet the eligibility criteria. The Government will have spent over £33 billion supporting those in self-employment through the SEISS, making it one of the most generous self-employment income COVID support schemes in the world.</p><p> </p><p>The Government is bringing more people into the scheme: changes to the fourth grant mean that over 600,000 people previously ineligible for SEISS may now be eligible, including those newly self-employed in 2019-20. This brings the total number of people who could be eligible to 3.7m.</p><p> </p><p>The Government recognises that some of the rules, criteria and conditions vital to ensuring that the SEISS works for the vast majority mean that some people may not qualify.</p><p> </p><p>Those ineligible for the SEISS may still be eligible for other elements of the support available. The Government has decided to extend the suspension of the Universal Credit Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings.</p><p> </p><p>New style Jobseeker’s Allowance is also available to individuals with sufficient National Insurance Contributions who now work under 16 hours a week on average, and does not assess household capital.</p><p>Self-employed people may also have access to other elements of support available, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 15/04/2021 14:17:17 answering member 3991 label Biography information for Jesse Norman
	tabling member	4786 label Biography information for Zarah Sultana

1307782

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Shares: Sales
	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 potential effect on short selling the financial market of The Short Selling (Notification Thresholds) Regulations 2021; and what plans he has to bring forward legislative proposals to regulate short selling in the future.
	tabling member constituency	Cumbernauld, Kilsyth and Kirkintilloch East
	tabling member printed	Stuart C McDonald
	uin	179172
	answer	answer is ministerial correction date of answer 19/04/2021 answer text <p>Short selling is regulated in the UK under the Short Selling Regulation, introduced in 2012. As with all regulation, the Treasury works closely with the regulators and market participants to monitor the effectiveness of the regulatory regime, in line with the government’s objectives of supporting economic growth and financial stability.</p><p><strong> </strong></p><p>The Short Selling (Notification Thresholds) Regulations 2021 lowered the threshold for the reporting of net short positions to the Financial Conduct Authority (FCA), in relation to the issued share capital of a company that has shares admitted to trading on a trading venue, to 0.1%. HM Treasury will continue to consider with the FCA whether the notification threshold remains appropriate given market conditions.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 19/04/2021 08:55:58 answering member 4051 label Biography information for John Glen
	tabling member	4393 label Biography information for Stuart C McDonald

1307374

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Myanmar Economic Holdings: Sanctions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether the sanctions placed on Myanmar Economics Holdings Ltd on 25 March 2021 include (a) financial services and (b) insurance.
	tabling member constituency	Aberavon
	tabling member printed	Stephen Kinnock
	uin	179145
	answer	answer is ministerial correction date of answer 15/04/2021 answer text <p>Yes. Myanmar Economics Holdings Ltd was designated under the Global Human Rights Sanctions Regulations on 25 March 2021. The Regulations impose financial sanctions through a targeted asset freeze on designated persons. This involves the freezing of funds and economic resources (non-monetary assets, such as property or vehicles) of designated persons and ensuring that funds and economic resources are not made available to or for the benefit of designated persons, either directly or indirectly. The asset freeze prohibits the payment of insurance premiums in the absence of a licence from the Office of Financial Sanctions Implementation (OFSI).</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/04/2021 15:54:49 answering member 4051 label Biography information for John Glen
	tabling member	4359 label Biography information for Stephen Kinnock

1308202

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Sanitary Products: VAT
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how much revenue to the Exchequer was generated from the 20 per cent tax on period pants in the (a) 2018-19, (b), 2019-20 and (c) 2020-21 financial years.
	tabling member constituency	Richmond Park
	tabling member printed	Sarah Olney
	uin	179329
	answer	answer is ministerial correction date of answer 15/04/2021 answer text <p>The information is not available. HMRC does not hold information on VAT revenue from specific products because businesses are not required to provide figures at a product level on their VAT returns, as this would impose an excessive administrative burden.</p><p> </p><p>A zero rate of VAT has applied to women’s sanitary products since 1 January 2021. This applies to those products which were previously subject to the reduced rate of five per cent, for example tampons and pads, and to reusable menstrual products, such as keepers.</p><p> </p><p>The relief specifically excludes articles of clothing such as “period pants”. Such exclusions are designed to ensure that the relief is properly targeted, since difficulties in policing the scope of the relief create the potential for litigation, erosion of the tax base and a reduction in revenue. Under existing rules “period pants” may already qualify for the zero rate, if they have been specifically designed to be worn by a child, meet the sizing criteria, and are held out for sale specifically for use by girls under the age of 14 years old.</p><p> </p><p>Details are provided in VAT Notice 714: Zero-rating young children’s clothing and footwear: <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fpublications%2Fvat-notice-714-zero-rating-young-childrens-clothing-and-footwear%2Fvat-notice-714-zero-rating-young-childrens-clothing-and-footwear%23items-suitable-only-for-young-children&amp;data=04%7C01%7Crheanna.fosterhorton%40hmrc.gov.uk%7Cf75390077b8341b68a2308d8fe723943%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C637539115330449992%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&amp;sdata=kIE6nXxO9LchwXiNjKKO%2BFXIofyzQHotsBzksJfEmLE%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/publications/vat-notice-714-zero-rating-young-childrens-clothing-and-footwear/vat-notice-714-zero-rating-young-childrens-clothing-and-footwear#items-suitable-only-for-young-children</a>”</p><p> </p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 15/04/2021 16:02:31 answering member 4597 label Biography information for Kemi Badenoch
	tabling member	4591 label Biography information for Sarah Olney

1308020

	registered interest
	date	12/04/2021
	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, if the Government will take steps to ensure that victims of the Equitable Life scandal receive full compensation for their losses.
	tabling member constituency	Newport West
	tabling member printed	Ruth Jones
	uin	179543
	answer	answer is ministerial correction date of answer 19/04/2021 answer text <p>The Equitable Life Payment Scheme closed to claims in 2015. There are no plans to reopen 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 Salisbury answering member printed John Glen question first answered 19/04/2021 08:50:45 answering member 4051 label Biography information for John Glen
	tabling member	4716 label Biography information for Ruth Jones

1307056

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	High Rise Flats: Taxation
	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 potential merits of making leaseholders of high-rise buildings with unsafe cladding who are required to complete a self-assessment tax return exempt from any taxes due as a result of that assessment.
	tabling member constituency	Southampton, Itchen
	tabling member printed	Royston Smith
	uin	179257
	answer	answer is ministerial correction date of answer 20/04/2021 answer text <p>The Government is investing over £5 billion in building safety, which will help protect leaseholders from cladding remediation costs in high-rise residential buildings. On 10 February 2021, the Government announced a 5-point plan for investment in building safety, with £3.5 billion earmarked for the removal of unsafe cladding on high-rise residential buildings, as well as a new finance scheme for cladding removal on buildings between 11 and 18 metres where no leaseholder will ever pay more than £50 a month. In addition, the Government has proposed a new ‘Gateway 2’ industry levy and residential property developer tax to ensure developers contribute to costs. These measures will provide certainty to residents and lenders, boosting the housing market and helping to ensure that developers, investors and building owners who have the means make a fair contribution to costs of remediation, without passing on costs to leaseholders.</p><p>No consideration has been made for a self-assessment exemption for leaseholders of high rise buildings with unsafe cladding.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 20/04/2021 15:07:50 answering member 3991 label Biography information for Jesse Norman
	tabling member	4478 label Biography information for Royston Smith

1306998

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Payments
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions his Department has had with relevant stakeholders on bringing forward legislative proposals to allow cashback without a purchase.
	tabling member constituency	Inverclyde
	tabling member printed	Ronnie Cowan
	uin	178727
	answer	answer is ministerial correction date of answer 20/04/2021 answer text <p>The Government has supported an amendment to the Financial Services Bill that will introduce legislative changes to allow for the widespread offering of cashback without a purchase by shops and other businesses.</p><p>The Government’s view is that cashback without a purchase has the potential to be a valuable facility to cash users, and to play an important role in the UK’s cash infrastructure. The recent Call for Evidence on Access to Cash invited views on this issue. It noted that cashback with a purchase was the second most frequently used method for withdrawing cash in the UK behind ATMs in 2019. There were 123 million cashback transactions when using a debit card to make a purchase amounting to a total value of £3.8 billion.</p><p>Pre-existing legislation, which derives from the EU’s Second Payment Services Directive, has meant that if a merchant wanted to offer cashback without requiring the customer to make a purchase, that shop, or its agent, would have to be authorised or registered with the Financial Conduct Authority (FCA). This presents a significant burden for many businesses.</p><p>This legislative change to enable cashback without a purchase will allow merchants to offer this service without being authorised or registered with the FCA. It is only possible now that the UK has left the EU and is a welcome step towards protecting access to cash for the future.</p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</p> answering member constituency Salisbury answering member printed John Glen question first answered 20/04/2021 15:12:06 answering member 4051 label Biography information for John Glen
	tabling member	4465 label Biography information for Ronnie Cowan