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1300184

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Coronavirus
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 merits of increasing corporation tax now for those companies with a higher profit margin during the covid-19 outbreak.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	164652
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>It is right that businesses share in the burden of restoring the public finances to a sustainable footing; that is why the Government announced an increase in the rate of Corporation Tax at Budget. The rate increase will not come into force until April 2023, by which time GDP is forecast to have recovered to its pre-pandemic level.</p><p> </p><p>Companies that have made profits during the pandemic have continued to pay Corporation Tax on those profits as normal. Corporation Tax is charged in line with the level of a company’s profits, so more profitable companies will have contributed more.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 16/03/2021 13:20:51 answering member 3991 label Biography information for Jesse Norman
tabling member	4786 label Biography information for Zarah Sultana

1296993

registered interest
date	02/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he made of the effect of the covid-19 outbreak on corporate profit and loss during the 2020-21 financial year on corporation tax revenues for the next three years.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	161752
answer	answer is ministerial correction date of answer 08/03/2021 answer text <p>This assessment is set out in the Office for Budget Responsibility’s March 2021 Economic and Fiscal Outlook, published alongside Budget 2021.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/03/2021 12:48:06 answering member 3991 label Biography information for Jesse Norman
tabling member	4124 label Biography information for Chi Onwurah

1289063

registered interest
date	23/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 February 2021 to Question 151725, on Business: Coronavirus, what estimate he has made of the amount of interest that businesses will accrue in deferred corporation tax payments.
tabling member constituency	Manchester Central
tabling member printed	Lucy Powell
uin	157123
answer	answer is ministerial correction date of answer 01/03/2021 answer text <p>I refer the Honourable Member to the response to UIN 151725 on 22 February 2021.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 01/03/2021 12:32:25 answering member 3991 label Biography information for Jesse Norman
tabling member	4263 label Biography information for Lucy Powell

1204463

registered interest
date	16/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make it his policy to suspend interest on outstanding corporation tax bills for those who have had to defer payment due to the covid-19 outbreak.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	59835
answer	answer is ministerial correction date of answer 22/06/2020 answer text <p>The Government has announced an unprecedented package of support for businesses and individuals during the Covid-19 outbreak.</p><p> </p><p>This includes the deferral of certain VAT and Self-Assessment payments in 2020-21, and the waiving of associated interest and penalties.</p><p> </p><p>HMRC have scaled up their Time to Pay (TTP) service, where individual and business taxpayers can agree tailored plans to defer certain tax payments due and repay them over an agreed period of time. These arrangements can include any tax or duty administered by HMRC, including Corporation Tax (CT). Interest will continue to accrue on TTP arrangements including those for CT, in the usual way, to cover the costs to Government of late payment.</p><p> </p><p>Incorporated businesses may have access to a wide range of Government support to help with finances and cashflow, including the Coronavirus Job Retention Scheme, Coronavirus Business Interruption Loan Scheme, and the Small Business Grant Scheme.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 22/06/2020 06:15:00 answering member 3991 label Biography information for Jesse Norman
tabling member	4482 label Biography information for Owen Thompson