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101048

	registered interest
	date	27/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many (a) company headquarters and (b) jobs have been reshored in the UK since the reduction in corporation tax rates.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	211930
	answer	answer is ministerial correction date of answer 04/11/2014 answer text <p>Supporting businesses and helping them to invest, create jobs and to grow is a key part of the Government’s long term economic plan. Since 2010 we have already cut Corporation Tax (CT) from 28% to 21%, and next year it will fall to 20% - the joint lowest rate in the G20. The Government has also cut the small profits rate to 20%. Overall these CT cuts for large and small firms will be worth £9.5bn a year to business by 2016.</p><p> </p><p> </p><p> </p><p>HM Treasury has not estimated the number of jobs reshored.</p><p> </p><p> </p><p> </p><p>We will continue to work to ensure that the tax system in the UK remains competitive and enables us to attract business investment.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 04/11/2014 16:46:42 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

451700

	registered interest
	date	09/02/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what his policy is on the proposal from the European Parliament's Economic and Monetary Affairs Committee for a mandatory Common Consolidated Corporate Tax Base (CCCTB) in the EU, in order to have one set of rules for calculating the taxable profits of companies operating in more than one member state; and if he will press for the introduction of such a CCCTB with other EU member states in the Council.
	tabling member constituency	Brighton, Pavilion
	tabling member printed	Caroline Lucas
	uin	26530
	answer	answer is ministerial correction date of answer 17/02/2016 answer text <p>The European Parliament’s Economic and Monetary Affairs Committee (ECON) has a keen interest in tax, and hence put forward certain proposals. However, the Commission has the sole power of initiative in relation to legislative measures. Tax files are to be agreed by unanimity at the Economic and Financial Affairs Council (ECOFIN). The European Parliament’s role in this process in not formal, and purely consultative.</p><p> </p><p>The term tax haven is often used as shorthand for low or zero tax jurisdictions. However, low tax rates are not by themselves harmful and the UK supports fair tax competition. The UK is working with other Member States in the EU Code of Conduct Group to identify harmful tax regimes and will continue to take strong action against aggressive avoidance and evasion.</p><p> </p><p>The UK and other Member States have not yet seen any proposals from the European Commission or the European Parliament on public country-by-country reporting (CbCR). The Commission is due to publish an Impact Assessment on public CbCR shortly, and we are interested in the results of their analysis. The UK will carefully consider any proposals put forward by the Commission.</p><p> </p><p>The UK played a leading role in encouraging other countries and jurisdictions to sign up to international tax transparency agreements during its G8 presidency in 2013. Thanks in large part to the UK's continuing leadership on this agenda, over 90 countries have now committed to exchange information on offshore accounts, beginning in 2017 or 2018. The UK also initiated the international work on CbCR and was the first country to formally commit to implementing the OECD model for CbCR, with legislation in the Finance Act 2015. We support the proposal to amend the Directive on Administrative Co-operation to require all EU Member States to adopt and exchange the OECD CbCR template.</p><p> </p><p>The European Commission intends to publish a revised proposal for a mandatory Common Consolidated Corporate Tax Base (CCCTB) later this year. The Government will wait to see the detail of the Commission’s proposal, including a robust impact assessment, before finalising its position. However, we have stated that the UK will not sign up to anything that undermines our tax sovereignty.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 26529 26531 question first answered 17/02/2016 10:09:03 answering member 1529 label Biography information for Mr David Gauke
	tabling member	3930 label Biography information for Caroline Lucas

227707

	registered interest
	date	17/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether there is a lower corporation tax limit for clubs, voluntary organisations and charities below which such organisations are not required to submit corporation tax returns.
	tabling member constituency	Isle of Wight
	tabling member printed	Mr Andrew Turner
	uin	227983
	answer	answer is ministerial correction date of answer 20/03/2015 answer text <p>Where the corporation tax liability of a club or an unincorporated organisation does not exceed £100, and where that club or organisation is run exclusively for the benefit of its members, HM Revenue and Customs (HMRC) will not generally require that club or organisation to complete corporation tax returns. HMRC review such treatment every 5 years. This treatment does not apply to companies which are wholly owned by, or subsidiaries of, charities.</p><p> </p><p> </p><p> </p><p>HMRC recognises that asking a charity to formally claim tax relief every year would be administratively burdensome and therefore they do not require every charity to file a tax return every year.</p><p> </p><p> </p><p> </p><p>However, they do require every charity to file a tax return once every few years so that they can check that the charity is claiming any tax exemptions and reliefs in accordance with the law. In addition, charities have an obligation to complete a tax return where they have reason to believe that they should be paying tax on some of their income or gains.</p><p> </p><p> </p><p> </p><p>If HMRC send a notice to a charity to file a tax return, the charity must complete it and submit it within the time limits given on the forms or they may face a penalty.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/03/2015 08:32:31 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1426 label Biography information for Mr Andrew Turner

461231

	registered interest
	date	11/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the implications for his policies on corporate taxation of the OECD's report, Countering harmful tax practices more effectively, taking into account transparency and substance, published in September 2014.
	tabling member constituency	Birmingham, Hall Green
	tabling member printed	Mr Roger Godsiff
	uin	30815
	answer	answer is ministerial correction date of answer 21/03/2016 answer text <p>The OECD report published in September 2014 formed the basis of international discussions in the OECD Forum on Harmful Tax Practices, which lead to the publishing of the 2015 FHTP Report, chapter 4 of which creates a new international framework governing preferential intellectual property (“IP”) regimes, such as the UK Patent Box.</p><p> </p><p>This international framework makes the lower tax rates of preferential IP regimes dependent on, and proportional to, the research and development expenditure incurred by the claimant taxpayer in developing their IP. The UK Patent Box will be amended in line with this international framework, with the new rules coming into force on 1 July 2016.</p><p> </p><p>The Report also made provision for greater information exchange between tax authorities of rulings issued to individual businesses. HM Revenue and Customs is currently implementing these rules and has already begun to exchange information with other tax authorities.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/03/2016 17:07:12 answering member 1529 label Biography information for Mr David Gauke
	tabling member	304 label Biography information for Mr Roger Godsiff

389466

	registered interest
	date	13/07/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the total corporation tax receipts have been in each year since 2005.
	tabling member constituency	Pontypridd
	tabling member printed	Owen Smith
	uin	6860
	answer	answer is ministerial correction date of answer 16/07/2015 answer text <p>HM Revenue &amp; Customs (HMRC) publishes National Statistics on an annual basis providing information on corporation tax receipts. A table showing annual receipts from 1999-00 to 2013-14 is available online:</p><p> </p><p><a href="https://www.gov.uk/government/statistics/corporation-tax-and-bank-levy-net-receipts" target="_blank">https://www.gov.uk/government/statistics/corporation-tax-and-bank-levy-net-receipts</a></p><p> </p><p> </p><p> </p><p>A provisional figure for Corporation Tax receipts from 2014-15 is available in HMRC’s monthly Tax Receipts and National Insurance Contributions statistics:</p><p> </p><p><a href="https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk" target="_blank">https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 16/07/2015 16:01:29 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4042 label Biography information for Owen Smith

389471

	registered interest
	date	13/07/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to the Summer Budget 2015, what estimate of the level of profits to be generated by UK banks was used to estimate the reserves to be derived from the corporation tax surcharge on banks.
	tabling member constituency	Pontypridd
	tabling member printed	Owen Smith
	uin	6886
	answer	answer is ministerial correction date of answer 20/07/2015 answer text <p>The forecasted revenue from the corporation tax surcharge is based on assumptions about the future profitability of banking groups and the location of profit within these groups.</p><p> </p><p> </p><p> </p><p>These assumptions have been certified by the independent Office for Budget Responsibility and are consistent with their forecast of financial sector corporation tax receipts which can be found here: <a href="http://cdn.budgetresponsibility.independent.gov.uk/July-2015-EFO-234224.pdf" target="_blank">http://cdn.budgetresponsibility.independent.gov.uk/July-2015-EFO-234224.pdf</a></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/07/2015 15:36:49 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4042 label Biography information for Owen Smith

389725

	registered interest
	date	14/07/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation 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 the effect of the changes to CFC rules introduced in the 2010 Emergency Budget on corporation tax receipts in each year of the last Parliament.
	tabling member constituency	Pontypridd
	tabling member printed	Owen Smith
	uin	6982
	answer	answer is ministerial correction date of answer 20/07/2015 answer text <p>Controlled Foreign Company (CFC) rules are designed to protect the UK tax base by preventing multinational groups based in the UK from diverting their UK profits artificially to companies in low tax jurisdictions to reduce their UK tax bill. They work by charging UK tax on those profits and so act as a deterrent to this behaviour.</p><p> </p><p> </p><p> </p><p>The Government reformed the Controlled Foreign Company (CFC) rules after close consultation with stakeholders in 2012. This was the first substantial revision to the rules since their introduction in 1984.</p><p> </p><p> </p><p> </p><p>This modernised CFC regime, which took effect in 2013, is closely targeted on artificially diverted profits to protect the UK tax base while reflecting modern global business practices.</p><p> </p><p> </p><p> </p><p>The Summer Budget also announced strengthening of the CFC rules to tackle aggressive tax planning by preventing UK based multinationals offsetting their losses against the UK’s CFC tax on profits they divert from the UK.</p><p> </p><p> </p><p> </p><p>As with all aspects of the tax system, the Government will keep this legislation under review, and will act to prevent abuse of these rules.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/07/2015 15:47:05 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4042 label Biography information for Owen Smith

533327

	registered interest
	date	06/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will update the Business Tax Road Map in light of his recent proposals on the change to corporation tax.
	tabling member constituency	Leeds West
	tabling member printed	Rachel Reeves
	uin	42102
	answer	answer is ministerial correction date of answer 11/07/2016 answer text <p>The Business Tax Road Map sets out the Government’s clear plans for business taxes to 2020 and beyond. It outlines the Government’s objectives for a competitive business tax system that is nonetheless fair and protected against multinational tax avoidance</p><p> </p><p>The Chancellor’s ambitions to cut the corporation tax rate further are entirely consistent with these principles.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/07/2016 14:39:50 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4031 label Biography information for Rachel Reeves

533329

	registered interest
	date	06/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will set out his plans for reaching the new target for corporation tax of less that 15 per cent.
	tabling member constituency	Leeds West
	tabling member printed	Rachel Reeves
	uin	42103
	answer	answer is ministerial correction date of answer 11/07/2016 answer text The Chancellor set out his ambition to build on the work of the last six years and go even further in reducing the rate of corporation tax to 15% or lower. answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/07/2016 14:37:59 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4031 label Biography information for Rachel Reeves

533330

	registered interest
	date	06/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Corporation Tax
	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 the potential effect of a reduction in corporation tax to (a) 15 (b) 14 and (c) 10 per cent on (i) GDP, (ii) unemployment and (iii) investment in (A) 2016, (B) 2017, (C) 2017, (D) 2018, (E) 2019 and (F) 2010.
	tabling member constituency	Leeds West
	tabling member printed	Rachel Reeves
	uin	42104
	answer	answer is ministerial correction date of answer 11/07/2016 answer text <p>The corporation tax reductions since 2010 have been designed to increase the competitiveness of the UK business tax system and to support investment and jobs in the UK. Their positive effect has been evidenced by strong growth in GDP, employment, and business investment since 2010.</p><p> </p><p>The Chancellor has now set out his ambition to reduce the corporation tax rate further, to 15 percent or below, to reinforce this strategy and send a clear message that the UK is open for business.</p><p> </p><p>Updated government economic modelling set out in the Business Tax Road Map suggests that corporation tax cuts delivered since 2010 could increase long-run GDP by over 1 percent. Details of this model can be found here:</p><p> </p><p>https://www.gov.uk/government/publications/analysis-of-the-dynamic-effects-of-corporation-tax-reductions</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/07/2016 14:41:52 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4031 label Biography information for Rachel Reeves