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1064410

	registered interest
	date	20/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Agriculture: Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many claims qualified for Inheritance Tax exemption on agricultural property in 2018; what the location was of claim; and what the average income was of the recipients.
	tabling member constituency	Bootle
	tabling member printed	Peter Dowd
	uin	223935
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Claims qualified for Inheritance Tax exemption on agricultural property relief (APR) and business property relief (BPR) in 2018/19 are currently unavailable.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 223941 question first answered 25/02/2019 17:40:15 answering member 3935 label Biography information for Mel Stride
	tabling member	4397 label Biography information for Peter Dowd

1064487

	registered interest
	date	20/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Asset Protection Agency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will publish in unredacted form the Asset Protection Agency’s Framework Document, published on 7 December 2009.
	tabling member constituency	East Lothian
	tabling member printed	Martin Whitfield
	uin	224039
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The Asset Protection Agency (APA) was set up in 2009 to manage the Asset Protection Scheme (APS), with the objective of maintaining financial stability and protecting taxpayers’ interests by helping participating banks manage their exposure to high-risk assets.</p><p> </p><p>The Royal Bank of Scotland (RBS) signed an ‘Accession Agreement’ to the APS dated 26 November 2009. This Agreement has previously not been published as it contained personal and commercially sensitive information. The Agreement is currently being reviewed with the intention of publication following redaction of any information that remains personal and commercially sensitive.</p><p> </p><p>The APA’s Framework Document is currently available in unredacted form at: <a href="https://webarchive.nationalarchives.gov.uk/20130129110533/http:/www.hm-treasury.gov.uk/apa.htm" target="_blank">https://webarchive.nationalarchives.gov.uk/20130129110533/http://www.hm-treasury.gov.uk/apa.htm</a></p><p> </p><p>The ‘Asset Management Framework and Conflicts Management Policy, and related Modifications to the Accession Agreement’ is also available, with the exception of a number of redactions of commercially sensitive information, at: <a href="https://webarchive.nationalarchives.gov.uk/20130129110533/http:/www.hm-treasury.gov.uk/apa.htm" target="_blank">https://webarchive.nationalarchives.gov.uk/20130129110533/http://www.hm-treasury.gov.uk/apa.htm</a></p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 224038 224088 question first answered 25/02/2019 14:00:08 answering member 4051 label Biography information for John Glen
	tabling member	4626 label Biography information for Martin Whitfield

1064099

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Child Trust Fund
	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 number of Child Trust Funds where the addressee has gone away or become unlinked.
	tabling member constituency	Bishop Auckland
	tabling member printed	Helen Goodman
	uin	223510
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the main contact of the CTF has lost their details, or where the main contact is not aware of the details of their CTF. CTF providers are required in legislation to send out regular statements to the registered contact for the account.</p><p>However, although the primary relationship is between the account provider and the child’s parents, if a parent doesn’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds </a></p> answering member constituency Salisbury answering member printed John Glen question first answered 25/02/2019 12:20:33 answering member 4051 label Biography information for John Glen
	tabling member	1484 label Biography information for Helen Goodman

1064013

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Company Cars: 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 (a) publish a legacy Company Car Tax table for vehicles registered before April 2020 and (b) freeze those rates at 2018-19 levels.
	tabling member constituency	Stroud
	tabling member printed	Dr David Drew
	uin	223211
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The government has engaged with stakeholders as part of the review of WLTP on vehicle taxes which closed on 17 February.</p><p> </p><p>The review sought evidence on how reported carbon dioxide emissions are impacted by the introduction of WLTP and whether any adjustment should be made to Vehicle Excise Duty and company car tax from April 2020.</p><p> </p><p>Responses to the review are currently being analysed and the government has committed to publishing a response in the spring.</p> answering member constituency Newark answering member printed Robert Jenrick grouped question UIN 223212 223500 223502 question first answered 25/02/2019 16:27:53 answering member 4320 label Biography information for Robert Jenrick
	tabling member	252 label Biography information for Dr David Drew

1064014

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Company Cars: 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 effect on (a) employers and (b) employees of maintaining current rates of Company Car Tax as a result of the implementation of Worldwide Harmonised Light Vehicle Test Procedure.
	tabling member constituency	Stroud
	tabling member printed	Dr David Drew
	uin	223212
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The government has engaged with stakeholders as part of the review of WLTP on vehicle taxes which closed on 17 February.</p><p> </p><p>The review sought evidence on how reported carbon dioxide emissions are impacted by the introduction of WLTP and whether any adjustment should be made to Vehicle Excise Duty and company car tax from April 2020.</p><p> </p><p>Responses to the review are currently being analysed and the government has committed to publishing a response in the spring.</p> answering member constituency Newark answering member printed Robert Jenrick grouped question UIN 223211 223500 223502 question first answered 25/02/2019 16:27:53 answering member 4320 label Biography information for Robert Jenrick
	tabling member	252 label Biography information for Dr David Drew

1064089

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Company Cars: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to review the rates of Company Car Tax in light of changes resulting from the Worldwide Harmonised Light Vehicle Testing Procedure; and if he will make a statement.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	223500
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The government has engaged with stakeholders as part of the review of WLTP on vehicle taxes which closed on 17 February.</p><p> </p><p>The review sought evidence on how reported carbon dioxide emissions are impacted by the introduction of WLTP and whether any adjustment should be made to Vehicle Excise Duty and company car tax from April 2020.</p><p> </p><p>Responses to the review are currently being analysed and the government has committed to publishing a response in the spring.</p> answering member constituency Newark answering member printed Robert Jenrick grouped question UIN 223211 223212 223502 question first answered 25/02/2019 16:27:53 answering member 4320 label Biography information for Robert Jenrick
	tabling member	163 label Biography information for Sir Stephen Timms

1064091

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Company Cars: 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 freezing at 2018-19 levels the rates of Company Car Tax for vehicles registered before the implementation of the Worldwide Harmonised Light vehicles Test Procedure in April 2020; and if he will make a statement.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	223502
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The government has engaged with stakeholders as part of the review of WLTP on vehicle taxes which closed on 17 February.</p><p> </p><p>The review sought evidence on how reported carbon dioxide emissions are impacted by the introduction of WLTP and whether any adjustment should be made to Vehicle Excise Duty and company car tax from April 2020.</p><p> </p><p>Responses to the review are currently being analysed and the government has committed to publishing a response in the spring.</p> answering member constituency Newark answering member printed Robert Jenrick grouped question UIN 223211 223212 223500 question first answered 25/02/2019 16:27:53 answering member 4320 label Biography information for Robert Jenrick
	tabling member	163 label Biography information for Sir Stephen Timms

1064045

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Departments: Procurement
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the guidance entitled, Procurement policy note 03/14: promoting tax compliance, what procedures are in place to ensure that Government Departments are tax compliant in foreign jurisdictions.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	223243
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>The regulations set out in “Procurement policy note 03/14: promoting tax compliance” do not place government departments under tax obligations in foreign jurisdictions.</p><p> </p><p>The 2015 Public Contract Regulations provide public bodies with the powers to exclude suppliers from a procurement where the supplier has been found guilty of breaching its obligations in relation to payment of taxes, and this has been established by a judicial or administrative decision having final effect within the relevant jurisdiction.</p><p> </p><p>Any suppliers with tax obligations in foreign jurisdictions are required to certify that they have not been found guilty of breaching those obligations.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 25/02/2019 17:24:05 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1059224

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what HM Treasury-backed interest bearing and index linked financial instruments have had, in the last 10 years, the index changed from (1) RPI to CPI, and (2) CPI to RPI; and what the rationale was for those changes.
	tabling member printed	Lord Sharkey
	uin	HL13609
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059225

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, in the light of the changes to NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996, whether they plan to change to CPI the index on those index-linked gilts currently using RPI; and if not, why not.
	tabling member printed	Lord Sharkey
	uin	HL13610
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13609 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey