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93469

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will bring forward legislative proposals to permit parents to leave more of their own money to their children.
	tabling member constituency	South Antrim
	tabling member printed	Dr William McCrea
	uin	210769
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The Government has already taken steps to make it easier for parents to pass on more of their money to their children when the die.</p><p> </p><p> </p><p> </p><p>From April 2015, individuals will be able to pass on their unused defined contribution pension to any nominated beneficiary when they die, rather than paying the 55% tax charge on inherited pensions which currently applies</p><p> </p><p> </p><p> </p><p>If the individual dies before they reach the age of 75, the beneficiary will be able to access the funds completely tax free at any age. If the individual dies after they reach the age of 75, the beneficiary will be able to access the funds, at any age, subject their marginal rate of income tax. There will also be an option to receive the pension as a lump sum payment, subject to a tax charge of 45%.</p><p> </p><p> </p><p> </p><p>These changes will be legislated for in the Taxation of Pensions Bill currently passing through the House.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 15:58:05 answering member 1529 label Biography information for Mr David Gauke
	tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

93473

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what proportion of self employed people are earning less than the personal allowance of £10,000.
	tabling member constituency	South Antrim
	tabling member printed	Dr William McCrea
	uin	210821
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>Estimates for the number of self employed people earning less than the personal allowance of £10,000 for 2014-15 are not available.</p><p> </p><p>The latest year for which estimates are available is 2011-12, where it is estimated that 1.94m (35%) of individuals with self employment income have total taxable income below the personal allowance of £7,475 for that tax year. These estimates are derived from table 3.6 and table 3.10 of the following publication, based on Survey of Personal Incomes (SPI) data for 2011-12.</p><p> </p><p>.</p><p> </p><p><a href="https://www.gov.uk/government/statistics/personal-incomes-statistics-tables-31-to-311-for-the-tax-year-2011-to-2012" target="_blank">https://www.gov.uk/government/statistics/personal-incomes-statistics-tables-31-to-311-for-the-tax-year-2011-to-2012</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 15:56:38 answering member 1529 label Biography information for Mr David Gauke
	tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

93754

	registered interest
	date	16/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Welfare Tax Credits
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what reports he has received of problems experienced by hon. Members using the dedicated MP tax credit hotline; and if he will make a statement.
	tabling member constituency	Cardiff South and Penarth
	tabling member printed	Stephen Doughty
	uin	210921
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>HM Revenue &amp; Customs (HMRC) acknowledges that there have been some recent telephony issues which have affected the service provided via their dedicated MP Hotline. HMRC have taken steps to resolve the issue and the MP Hotline facility is now fully operational.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 16:47:53 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4264 label Biography information for Stephen Doughty

93755

	registered interest
	date	16/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Scotland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether the Pensions Technical Group and Income Tax Technical Group established to examine issues arising from the introduction of a Scottish rate of income tax have completed their work.
	tabling member constituency	Glasgow East
	tabling member printed	Margaret Curran
	uin	210913
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The advisory groups set up by HM Revenue and Customs (HMRC) to examine issues from the introduction of the Scottish rate of income tax have completed their work. The Government’s proposals for the detailed consequential changes needed to implement the Scottish Rate of Income Tax were set out in the Technical Note published by HMRC in May 2012. In December 2013 HMRC announced arrangements to ensure that from 2016 Scottish taxpayers will receive the appropriate tax relief on their pension contributions to relief at source schemes.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 16:46:03 answering member 1529 label Biography information for Mr David Gauke
	tabling member	3982 label Biography information for Margaret Curran

93756

	registered interest
	date	16/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Taxation: Scotland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many requests the Scottish Government has made using the powers of Part 3 of the Scotland Act 2012 for the addition of new devolved taxes.
	tabling member constituency	Glasgow East
	tabling member printed	Margaret Curran
	uin	210914
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The Scottish Government has not made any requests to create new devolved taxes under this power.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 16:51:15 answering member 1529 label Biography information for Mr David Gauke
	tabling member	3982 label Biography information for Margaret Curran

93757

	registered interest
	date	16/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Scotland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many officials in his Department are working on the Scottish rate of income tax project.
	tabling member constituency	Glasgow East
	tabling member printed	Margaret Curran
	uin	210915
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>I refer the hon member to the answer that I gave her on 13 June 2013 (OR,WA, COL: 390W).</p><p> </p><p> </p><p><a href="http://www.publications.parliament.uk/pa/cm201314/cmhansrd/cm130613/text/130613w0001.htm#13061354000143" target="_blank">http://www.publications.parliament.uk/pa/cm201314/cmhansrd/cm130613/text/130613w0001.htm#13061354000143</a></p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 10:01:23 answering member 1529 label Biography information for Mr David Gauke
	tabling member	3982 label Biography information for Margaret Curran

93455

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department plans to take to encourage long-term and sustainable growth in the finance sector.
	tabling member constituency	St Austell and Newquay
	tabling member printed	Stephen Gilbert
	uin	210735
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The Government understands the importance of having a growing but stable finance sector. Since the financial crisis the Government has, domestically and with EU and international partners, implemented an unprecedented range of regulatory reforms to improve the safety and resilience of the financial sector. The Government will continue to promote long-term and sustainable growth domestically and with EU and international partners, including in the finance sector. In addition, the Government will continue efforts through the Financial Services Trade and Investment Board, a strategic body chaired by HM Treasury, to attract inward investment, promote external trade and encourage the growth of the UK’s financial services sector.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 09:07:59 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4101 label Biography information for Stephen Gilbert

93466

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the total household debt was in the UK on 1 April 2014.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	210628
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>According to the latest figures published by the Office for National Statistics, the UK’s total household debt was £1,671 billion in the second quarter of 2014.</p><p> </p><p> </p><p>These figures are available here: <a href="http://www.ons.gov.uk/ons/rel/naa1-rd/united-kingdom-economic-accounts/index.html" target="_blank">http://www.ons.gov.uk/ons/rel/naa1-rd/united-kingdom-economic-accounts/index.html</a></p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 09:19:43 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1409 label Biography information for Mr Gregory Campbell