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753991

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Taxation: USA
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of what additional compliance requirements the US Foreign Account Tax Compliance Act will place on UK-based companies over and above the requirements of the UK system with which they are already compliant.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	6117
	answer	answer is ministerial correction date of answer 11/09/2017 answer text <p>An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6044 6119 question first answered 11/09/2017 16:00:49 answering member 3935 label Biography information for Mel Stride
	tabling member	1585 label Biography information for Stephen Hammond

753993

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Taxation: USA
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made on the potential effect of complying with the requirements of the US Foreign Account Tax Compliance Act additional to those already placed on them through the UK compliance system on UK-based (a) non-life insurers, (b) brokers and intermediaries and (c) consumers.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	6119
	answer	answer is ministerial correction date of answer 11/09/2017 answer text <p>An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6044 6117 question first answered 11/09/2017 16:00:49 answering member 3935 label Biography information for Mel Stride
	tabling member	1585 label Biography information for Stephen Hammond

753994

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Taxation: USA
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the potential additional administrative and financial burdens placed on UK financial services of complying with the US Foreign Account Tax Compliance Act; and if he will make a statement.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	6044
	answer	answer is ministerial correction date of answer 11/09/2017 answer text <p>An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6117 6119 question first answered 11/09/2017 16:00:49 answering member 3935 label Biography information for Mel Stride
	tabling member	1585 label Biography information for Stephen Hammond

830569

	registered interest
	date	25/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Shared Ownership Schemes: Stamp Duty Land Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of whether purchasers of shared ownership properties are benefiting from the the stamp duty exemption announced in Autumn Budget 2017; and whether purchasers who opt to stamp duty on the value of the initial share benefit from that exemption.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	125097
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>First-time buyers of shared ownership property who choose to pay SDLT at purchase on the whole market value of the property can benefit from the relief. If the property is worth £300,000 or less, there will be no SDLT to pay. According to Ministry of Housing, Communities and Local Government data, the median shared ownership market value is £220,000.</p><p> </p><p>Where market value treatment does not apply, or has not been opted for, the first-time buyers’ relief cannot be claimed. There is already a special SDLT treatment given to purchasers of new shared ownership properties. Purchasers can choose to pay SDLT on the initial portion purchased with a further SDLT charge if they buy the remaining share in the future.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:25:17 answering member 3935 label Biography information for Mel Stride
	tabling member	1585 label Biography information for Stephen Hammond

909124

	registered interest
	date	21/05/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Shared Ownership Schemes: Stamp Duty Land Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether a first-time buyer purchasing a shared ownership resale property qualifies for the first-time buyer relief on Stamp Duty Land Tax if they elect to pay that tax on the full value of the property rather than on the share being purchased.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	146185
	answer	answer is ministerial correction date of answer 25/05/2018 answer text <p>The option to elect to pay Stamp Duty Land Tax (SDLT) on the full market value of shared ownership property can only be made by the first purchaser on the initial grant of a lease to them. Subsequent purchasers are not able to make an election.</p><p> </p><p>However, where there is a resale of a shared ownership property, first time buyers’ relief will be available where the purchase price is £500,000 or below.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 25/05/2018 10:41:02 answering member 3935 label Biography information for Mel Stride
	tabling member	1585 label Biography information for Stephen Hammond