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1379058

	registered interest
	date	16/11/2021
	answering body	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 the Chancellor of the Exchequer, pursuant to the Answer of 27 October 2021 to Question 58753 on Corporation Tax, whether the Government supports the inclusion of a carve-out for financial services under Pillar 2 of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) framework; and if he will make statement.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	75831
	answer	answer is ministerial correction date of answer 24/11/2021 answer text <p>The Government is delighted that a final political agreement has now been reached on the framework for a Two-Pillar Solution.</p><p> </p><p>The regulated financial services and extractives sectors are to be excluded from Pillar One in recognition that the justification for reallocating taxing rights is much weaker, and the practical challenges in doing so are much greater.</p><p> </p><p>There will be no such exclusion for those sectors from Pillar Two.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 24/11/2021 17:15:21 answering member 4517 label Biography information for Lucy Frazer
	tabling member	1447 label Biography information for Andrew Rosindell

1361506

	registered interest
	date	19/10/2021
	answering body	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 the Chancellor of the Exchequer, with reference to proposals for a global minimum rate of corporation tax under Pillar 2 of the OECD’s Base Erosion and Profit Shifting (BEPS) Framework, what position the Government has put forward on the use of deferred tax accounting to the OECD Working Party 11.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	58753
	answer	answer is ministerial correction date of answer 27/10/2021 answer text <p>The UK has long been at the forefront of global efforts to update the international corporation tax framework in response to challenges created by digitalisation.</p><p>The UK has been an active participant throughout the process and has played a leading role in securing G20 commitment to reach initial agreement on the proposals by mid-2021 and final agreement by October 2021.</p><p>The agreement reached on 8 October 2021, with over 130 jurisdictions across the globe, represents a major reform to the global tax system and will help to ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p>Reaching a Two-Pillar Solution has been a long-standing priority for the UK. It is a credit to our persistence that this agreement is now becoming a reality.</p><p>The full details of the political agreement are still subject to international negotiation and it would not be appropriate to comment on specific provisions.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 58752 question first answered 27/10/2021 13:57:39 answering member 4517 label Biography information for Lucy Frazer
	tabling member	1447 label Biography information for Andrew Rosindell

1331228

	registered interest
	date	09/06/2021
	answering body	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 the Chancellor of the Exchequer, whether he plans to seek parliamentary approval prior to agreeing at the OECD any proposal for a global minimum rate of corporation tax.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	12971
	answer	answer is ministerial correction date of answer 18/06/2021 answer text I refer the Honourable Member to the answer given on 19 May to UIN 104. answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 12972 question first answered 18/06/2021 11:05:56 answering member 3991 label Biography information for Jesse Norman
	tabling member	1447 label Biography information for Andrew Rosindell

1331229

	registered interest
	date	09/06/2021
	answering body	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 the Chancellor of the Exchequer, with reference to the development of OECD Base Erosion and Profit Shifting proposals on a global minimum rate of corporation tax, what plans the Government has to seek parliamentary approval before signing a treaty or other international agreement giving effect in the UK to a global minimum rate of corporation tax.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	12972
	answer	answer is ministerial correction date of answer 18/06/2021 answer text I refer the Honourable Member to the answer given on 19 May to UIN 104. answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 12971 question first answered 18/06/2021 11:05:56 answering member 3991 label Biography information for Jesse Norman
	tabling member	1447 label Biography information for Andrew Rosindell

1006210

	registered interest
	date	13/11/2018
	answering body	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 the Chancellor of the Exchequer, what assessment he has made of the effect of lowering the rate of corporation tax on corporation tax receipts since 2017.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	190819
	answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The OECD has concluded that corporation tax is the most harmful tax for growth and productivity.</p><p> </p><p>In April 2017, the corporation tax rate was reduced from 20% to 19%. This is the continuation of this government’s reduction in the rate from 28% in 2010.</p><p> </p><p>Lower corporation taxes can result in increased profits, wages, employment and consumption that all feed through into higher tax revenues that support our vital public services.</p><p> </p><p>Despite the rate cut in 2017, the onshore corporation tax revenues have increased from £53.6 billion in 2016-17 to £56.1 billion in 2017-18. Since 2010, onshore corporation tax revenues have increased by 55%.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/11/2018 15:35:46 answering member 3935 label Biography information for Mel Stride
	tabling member	1447 label Biography information for Andrew Rosindell

1301818

	registered interest
	date	11/03/2021
	answering body	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 the Chancellor of the Exchequer, what assessment his Department has made of the potential effect on economic activity and investment of the corporation tax taper from 2023-24 on profits between £50,000 and £250,000.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	167298
	answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The taper on profits between £50,000 and £250,000 is designed to ensure that the benefit of the small profits rate is targeted at the smallest businesses, while at the same time minimising economic distortions for those to which it applies.</p><p> </p><p>Companies with profits within the taper will continue to be subject to an effective tax rate on profit that is below the main rate.</p><p> </p><p>The economic impacts of the Corporation Tax rate increase are forecast by the independent Office for Budget Responsibility and contained within its Economic and Fiscal Outlook.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:26:37 answering member 3991 label Biography information for Jesse Norman
	tabling member	4657 label Biography information for Anneliese Dodds

1302000

	registered interest
	date	11/03/2021
	answering body	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 the Chancellor of the Exchequer, what steps he is taking to prevent larger businesses dividing into several smaller businesses in order to be eligible for the new small profits rate of corporation tax from 2023-24.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	167300
	answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The lower profit limit, below which companies will be eligible for the small profits rate, will be reduced in proportion to the number of associated companies a company has. This is designed to prevent companies with profits over the small profits thresholds from being divided up in an attempt to take advantage of the lower rate. The upper profit limit will also be subject to this rule. Associated companies rules also applied under the previous small profits rate.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:25:04 answering member 3991 label Biography information for Jesse Norman
	tabling member	4657 label Biography information for Anneliese Dodds

1146016

	registered interest
	date	25/09/2019
	answering body	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 the Chancellor of the Exchequer, what estimate he has made of the additional revenue that would be generated by including corporation tax in the extension of offshore time limits.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	291102
	answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>The additional revenue that would be generated by including corporation tax in the extension of offshore time limits was estimated as negligible.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 30/09/2019 16:24:49 answering member 3991 label Biography information for Jesse Norman
	tabling member	4657 label Biography information for Anneliese Dodds

1232204

	registered interest
	date	08/09/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what support are they giving to the Fair Tax Mark certification scheme.
	tabling member printed	Baroness Kennedy of Cradley
	uin	HL7935
	answer	answer is ministerial correction date of answer 22/09/2020 answer text <p>The Government is committed to ensuring all businesses pay their fair share of tax in the UK and has taken significant steps to ensure that this objective is realised. This includes introducing the Diverted Profits Tax in 2015, the Interest Restriction Rules in 2017, and the Digital Services Tax from April 2020.</p><p> </p><p>HM Revenue &amp; Customs (HMRC) are responsible for the administration of the UK tax system. HMRC use the most appropriate, cost-effective, and high-impact methods to support all taxpayers in complying with their obligations, and impose sanctions on those who do not.</p> answering member printed Lord Agnew of Oulton question first answered 22/09/2020 11:06:28 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1329469

	registered interest
	date	04/06/2021
	answering body	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 the Chancellor of the Exchequer, if he will provide information on compliance yield from activities relating to ensuring the proper payment of corporation tax in respect of the work of HMRC’s Large Business Directorate in each year between 2014-15 and 2019-20.
	tabling member constituency	Houghton and Sunderland South
	tabling member printed	Bridget Phillipson
	uin	10347
	answer	answer is ministerial correction date of answer 11/06/2021 answer text <p>The Large Business Directorate compliance yield in respect of Corporation Tax is below:</p><p> </p><table><tbody><tr><td><p><strong>Year</strong></p></td><td><p><strong>CT yield (£m)</strong></p></td></tr><tr><td><p>2014-15</p></td><td><p>3,453</p></td></tr><tr><td><p>2015-16</p></td><td><p>3,650</p></td></tr><tr><td><p>2016-17</p></td><td><p>3,577</p></td></tr><tr><td><p>2017-18</p></td><td><p>2,882 (includes Petroleum Revenue Tax)</p></td></tr><tr><td><p>2018-19</p></td><td><p>2,608</p></td></tr><tr><td><p>2019-20</p></td><td><p>2,582</p></td></tr></tbody></table> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/06/2021 13:54:54 answering member 3991 label Biography information for Jesse Norman
	tabling member	4046 label Biography information for Bridget Phillipson