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1305374

	registered interest
	date	23/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Wyelands Bank
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the Bank of England has required Wyelands Bank to return all deposits or a category of deposits; if so, when; whether Wyelands remains an approved bank on the Bank of England list of banks; and if not, why this has not been publicly announced.
	tabling member printed	Lord Myners
	uin	HL14527
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The PRA published a statement on its website on 3 March 2021, confirming that Wyelands Bank had been required to operationalise an orderly repayment of its deposits. Wyelands Bank has since published a statement on its website confirming that its deposit accounts have been closed and that depositors were repaid on 17 March. Wyelands have instructed any depositors who have not received their funds to contact their Customer Service team.</p><p>Wyelands remains authorised by the PRA and regulated by the PRA and the FCA; however, as shown on the Financial Services Register, its permission to perform regulated activities is subject to limitations.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:10:32 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3869 label Biography information for Lord Myners

1303649

	registered interest
	date	17/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Pay
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the number of small business owners who have foregone their personal salaries to provide additional investment for their businesses during the COVID-19 pandemic.
	tabling member printed	Lord Taylor of Warwick
	uin	HL14350
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The Government recognises the challenges faced by small business owners due to COVID-19. That is why the Government has committed to a very substantial package of support to help businesses, their owners and employees through this difficult time. Small business owners may benefit from extensions to the Coronavirus Job Retention Scheme (CJRS) and to the Self-Employment Income Support Scheme (SEISS) to September 2021 announced at the recent Budget. The CJRS has supported 11.2 million unique jobs (by 15 February 2021) supporting 1.3 million employers with £53.8 billion. The next SEISS grants will potentially support an additional 600,000 claimants, bringing the Government’s support for the self-employed to £33 billion. Alongside this, small businesses have benefited from Small Business Rates Relief and may continue to benefit from the extended business rates relief for the retail, hospitality and leisure sectors. These firms may be eligible for the newly introduced Restart Grants, due to start in April, alongside having the opportunity to apply for a share of an additional £425 million top up to Local Authority Additional Restriction Grants. They may also be eligible to apply for the new Recovery Loan Scheme and may also benefit from the reduction of VAT for eligible businesses, and deferrals to VAT repayments.</p><p> </p><p>Despite this level of support, the Government acknowledges that it has not been possible to support everyone as they might wish, such as company directors. Where groups have not been included it has been because of two guiding principles; to target support to those who need it most, and to protect public money against error, fraud and abuse. Despite extensive analysis and engagement, no practical way has been found to identify and target directors unable to draw on the SEISS or CJRS, and to assess the value of support they should receive.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 13:59:47 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1303650

	registered interest
	date	17/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Corporation Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the impact of planned corporation tax increases on the profitability of small businesses.
	tabling member printed	Lord Taylor of Warwick
	uin	HL14351
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>Corporation Tax is payable on companies’ taxable profits. From April 2023 companies with small profits, those companies with profits of £50,000 or less, will continue to pay 19%. That means that c.70% of actively trading companies will be protected from a rate increase.</p><p>Marginal relief will be available for companies with profits between £50,000 and £250,000 ensuring that the effective rate of Corporation Tax increases gradually for companies with profits over £50,000, avoiding the distortions which would come with a sharp increase in rate.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:00:25 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1304213

	registered interest
	date	18/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when the SME Brexit Support Fund will open to applicants.
	tabling member printed	Lord Clement-Jones
	uin	HL14373
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The SME Brexit Support Fund opened to applicants on Monday 15 March 2021.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:03:37 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3396 label Biography information for Lord Clement-Jones

1304214

	registered interest
	date	18/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the earliest date by which applicants can expect to receive funding from the SME Brexit Support Fund.
	tabling member printed	Lord Clement-Jones
	uin	HL14374
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The earliest date by which applicants can expect to receive funding from the SME Brexit Support Fund, following a successful application, is within 30 days of the valid claim for reimbursement being accepted.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:05:53 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3396 label Biography information for Lord Clement-Jones

1304215

	registered interest
	date	18/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether small and medium-sized enterprises (1) that were trading with the EU prior to 1 January, and (2) that trade with other countries, will be eligible for the SME Brexit Support Fund if they meet the criteria.
	tabling member printed	Lord Clement-Jones
	uin	HL14375
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>Small and medium-sized enterprises that were trading with the EU prior to 1 January are eligible for the SME Brexit Support Fund if they were only trading with the EU and so need to adjust to new customs, rules of origin, and VAT rules.</p><p> </p><p>If a small or medium-sized enterprise traded with the EU prior to 1 January and trades with other countries (i.e., non-EU countries), then they are not eligible for the SME Brexit Support Fund as they have no need to adjust to new customs, rules of origin, and VAT rules.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:02:53 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3396 label Biography information for Lord Clement-Jones

1304216

	registered interest
	date	18/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the maximum gross amount available to applicants through the SME Brexit Support Fund.
	tabling member printed	Lord Clement-Jones
	uin	HL14376
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The maximum gross amount available through the SME Brexit Support Fund is £2,000 per applicant.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:03:16 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3396 label Biography information for Lord Clement-Jones

1304528

	registered interest
	date	22/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when is the earliest date that applicants can expect to receive funding from the SME Brexit Support Fund.
	tabling member printed	Baroness Bonham-Carter of Yarnbury
	uin	HL14430
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The earliest date by which applicants can expect to receive funding from the SME Brexit Support Fund, following a successful application, is within 30 days of the valid claim for reimbursement being accepted.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:11:00 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3699 label Biography information for Baroness Bonham-Carter of Yarnbury

1304529

	registered interest
	date	22/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the benefits to businesses of receiving funding from the SME Brexit Support Fund (1) at any time, and (2) after the impending import process changes.
	tabling member printed	Baroness Bonham-Carter of Yarnbury
	uin	HL14431
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>The Government has provided extensive guidance to businesses on VAT, excise, and customs processes to support them in their readiness for the UK leaving the EU. This guidance includes videos, webinars and step-by-step guides.</p><p>The announcement of the SME Brexit Support Fund followed extensive engagement with individual businesses, leading business organisations and trade associations from across the UK. Grants have been designed to cover a significant portion of the costs faced for basic customs training courses or professional advice on customs, rules of origin and the VAT aspects of imports and exports.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:09:08 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3699 label Biography information for Baroness Bonham-Carter of Yarnbury

1304530

	registered interest
	date	22/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	SME Brexit Support Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether there is provision for SME Brexit Support Fund grants to be applied retroactively to cover adjustments put in place by businesses before the funding became available.
	tabling member printed	Baroness Bonham-Carter of Yarnbury
	uin	HL14432
	answer	answer is ministerial correction date of answer 31/03/2021 answer text <p>Applicants can only seek support for eligible expenditure on or after 11 February 2021, the date the scheme was announced.</p> answering member printed Lord Agnew of Oulton question first answered 31/03/2021 14:09:33 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3699 label Biography information for Baroness Bonham-Carter of Yarnbury