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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

1301819

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	Employment: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department plans to offer a retention incentive to businesses who continue to employ furloughed workers following the withdrawal of the Job Retention Bonus.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	167299
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The objective of the Job Retention Bonus (JRB) was to incentivise employers to retain employees between November, when the Coronavirus Job Retention Scheme (CJRS) was due to end, and the end of January through a £1,000 bonus paid to the employer. However, the subsequent extension of the CJRS to April (now September) allowed employers to retain their staff during that period by covering 80% of the furloughed employees’ wages. Given this further extension to the end of September, the policy intent of the JRB falls away.</p><p> </p><p>The Government remains committed to redeploying a retention incentive at the appropriate time.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:54:48 answering member 3991 label Biography information for Jesse Norman
tabling member	4657 label Biography information for Anneliese Dodds

1301827

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	Self-employment Income Support Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Self-Employment Income Support Scheme, what assessment his Department has made of the potential merits of an advance payment system for people who are (a) facing financial hardship and (b) struggling financially following payment of self-assessment tax returns prior to the issuing of the fourth grant under that scheme.
tabling member constituency	Inverness, Nairn, Badenoch and Strathspey
tabling member printed	Drew Hendry
uin	167261
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The fourth Self-Employment Income Support Scheme (SEISS) grant will be available to claim from late April and HMRC will contact potential claimants from mid-April. This is because HMRC will need to process the data received in millions of 2019/20 Self-Assessment returns prior to making payments.</p><p> </p><p>In recognition of the immense pressures that many people are facing due the pandemic, the Government sought to provide a breathing space by waiving the penalty for the late filing of tax returns received after the 31 January statutory deadline and by 28 February. Self-Assessment returns filed by 2 March can now be taken into account for the fourth and fifth SEISS grant.</p><p> </p><p>For those requiring further support, the SEISS continues to be just one element of a wider package of support for the self-employed. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the Government has decided to extend the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition to this, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:12:10 answering member 3991 label Biography information for Jesse Norman
tabling member	4467 label Biography information for Drew Hendry

1301847

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	Technology: Capital Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether investment in technology and digital transformation is eligible for super-deduction.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	167199
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>Expenditure on the provision of plant and machinery for leasing is not eligible for the new 130% super-deduction capital allowance, as is the case with other first year allowances such as Enhanced Capital Allowances in Enterprise Zones.</p><p> </p><p>The super-deduction applies to investment on qualifying plant and machinery, including where that plant and machinery is for the purposes of digital transformation.</p><p> </p><p>The Government takes fraud, abuse and tax avoidance very seriously, which is why the Government has taken repeated action at fiscal events to tackle fraud, abuse and avoidance in the tax system.</p><p> </p><p>The super-deduction has been designed to safeguard against those risks. The legislation includes an anti-avoidance provision that applies to counteract arrangements which are contrived, abnormal or lacking a genuine commercial purpose. Further, there are existing rules that exclude connected party transactions from first-year allowances.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 167193 167301 question first answered 16/03/2021 13:14:30 answering member 3991 label Biography information for Jesse Norman
tabling member	4124 label Biography information for Chi Onwurah

1301903

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	Off-payroll Working
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with relevant stakeholders on the potential merits of establishing an exemption process for freelance workers who will be subject to forthcoming IR35 legislation.
tabling member constituency	Delyn
tabling member printed	Rob Roberts
uin	167339
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The changes to the off-payroll working rules come into effect on 6 April 2021. The changes do not introduce a new tax liability. They ensure that the current rules, which have been in place since 2000, are applied correctly and complied with as originally intended.</p><p> </p><p>The rules only apply to individuals who are working like employees under the current employment status tests, and do not apply to the self-employed. It is fair that two individuals working in a similar way pay broadly the same tax and NICs, even if one of them works through their own company.</p><p> </p><p>Establishing exemptions for a certain group of taxpayers, regardless of whether they are working like employees under existing employment status law, would undermine the key principle of the rules that individuals working in a similar way should pay a similar amount of tax.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:31:35 answering member 3991 label Biography information for Jesse Norman
tabling member	4810 label Biography information for Mr Rob Roberts

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

1302001

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: Tax Allowances
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 potential effect of the corporation tax super deduction on levels of fraud, abuse and tax avoidance relating to corporation tax.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	167301
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>Expenditure on the provision of plant and machinery for leasing is not eligible for the new 130% super-deduction capital allowance, as is the case with other first year allowances such as Enhanced Capital Allowances in Enterprise Zones.</p><p> </p><p>The super-deduction applies to investment on qualifying plant and machinery, including where that plant and machinery is for the purposes of digital transformation.</p><p> </p><p>The Government takes fraud, abuse and tax avoidance very seriously, which is why the Government has taken repeated action at fiscal events to tackle fraud, abuse and avoidance in the tax system.</p><p> </p><p>The super-deduction has been designed to safeguard against those risks. The legislation includes an anti-avoidance provision that applies to counteract arrangements which are contrived, abnormal or lacking a genuine commercial purpose. Further, there are existing rules that exclude connected party transactions from first-year allowances.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 167193 167199 question first answered 16/03/2021 13:14:30 answering member 3991 label Biography information for Jesse Norman
tabling member	4657 label Biography information for Anneliese Dodds

1302007

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	Capital Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether investment in plant and machinery intended to be subsequently leased is eligible for the new 130 per cent super deduction capital allowance.
tabling member constituency	Houghton and Sunderland South
tabling member printed	Bridget Phillipson
uin	167193
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>Expenditure on the provision of plant and machinery for leasing is not eligible for the new 130% super-deduction capital allowance, as is the case with other first year allowances such as Enhanced Capital Allowances in Enterprise Zones.</p><p> </p><p>The super-deduction applies to investment on qualifying plant and machinery, including where that plant and machinery is for the purposes of digital transformation.</p><p> </p><p>The Government takes fraud, abuse and tax avoidance very seriously, which is why the Government has taken repeated action at fiscal events to tackle fraud, abuse and avoidance in the tax system.</p><p> </p><p>The super-deduction has been designed to safeguard against those risks. The legislation includes an anti-avoidance provision that applies to counteract arrangements which are contrived, abnormal or lacking a genuine commercial purpose. Further, there are existing rules that exclude connected party transactions from first-year allowances.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 167199 167301 question first answered 16/03/2021 13:14:30 answering member 3991 label Biography information for Jesse Norman
tabling member	4046 label Biography information for Bridget Phillipson

1302013

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 he has made of the effect the £50,000 threshold for the new small profits rate of corporation tax will have on incentives for corporations with profits just below that level to expand their worth.
tabling member constituency	Houghton and Sunderland South
tabling member printed	Bridget Phillipson
uin	167194
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>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> </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, and that only about 10% of companies will pay the full main rate.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:30:02 answering member 3991 label Biography information for Jesse Norman
tabling member	4046 label Biography information for Bridget Phillipson

1301297

registered interest
date	10/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-employment Income Support Scheme
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 number of self-employed people who will be ineligible to apply for the fourth round of Self-Employed Income Support Scheme grants as a result of their tax return for the tax year 2019-20 not having been submitted by 2 March 2021.
tabling member constituency	East Renfrewshire
tabling member printed	Kirsten Oswald
uin	166462
answer	answer is ministerial correction date of answer 15/03/2021 answer text <p>HMRC waived the late filing penalty for tax returns filed online by 28 February in order to provide relief to all Self-Assessment taxpayers and agents at a time of significant pressure. The statutory filing deadline of 31 January did not change.</p><p> </p><p>According to HMRC, 11.4 million people had submitted their 2019-20 Self-Assessment tax returns by 28 February. About 1.1 million returns are outstanding. Not all of these cases will ultimately file a return or will be self-employed.</p><p> </p><p>HMRC analysis of filing volumes around this period suggests that an estimated 97% of individuals who claimed the third Self-Employment Income Support Scheme (SEISS) grant, about 2.1 million people, had submitted their 2019-20 Self-Assessment tax return by 28 February.</p><p> </p><p>An estimate of the number of self-employed individuals who will be ineligible for the fourth SEISS grant as a result of their tax return for the tax year 2019-20 not having been submitted by 2 March 2021 is not available. This will depend on the number of individuals that file a 2019-20 return after that date and the information they submit.</p><p> </p><p>At Spring Budget the Government announced a major improvement in access to the SEISS. HMRC will use 2019-20 tax returns to determine eligibility for the fourth and fifth grants, provided they were submitted by 2 March.</p><p> </p><p>This means about 600,000 people, many of whom became self-employed in 2019-20, may now be able to claim the fourth and fifth grants, bringing the total number of people who could be eligible to about 3.7 million.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 166464 question first answered 15/03/2021 15:33:36 answering member 3991 label Biography information for Jesse Norman
tabling member	4413 label Biography information for Kirsten Oswald