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1302128

registered interest
date	12/03/2021
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 level of profit shifting into the UK as a result of the corporation tax super deduction in (a) 2021-22 and (b) 2022-23.
tabling member constituency	Houghton and Sunderland South
tabling member printed	Bridget Phillipson
uin	167859
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The UK has been at the forefront of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) Project, which seeks to address the gaps and mismatches in the global tax system used to shift profits artificially to low or no tax locations where there is little or no economic activity.</p><p> </p><p>The Government has already taken decisive action to ensure the UK’s tax laws remain robust and that multinational companies operating in the UK pay the right amount of tax on the profits earned here, including Corporate Interest Restriction rules (which raise approximately £1 billion a year), hybrid mismatch rules (expected to raise £900 million between 2016/17 and 2020/21) and the requirement for large businesses to provide HMRC with a country-by-country breakdown of their profits, tax and assets.</p><p> </p><p>The super-deduction benefits businesses that have real physical substance (plant and machinery) in the UK, not those who try to shift profits artificially. The Government keeps the tax system under review at all times and will take any necessary action to address any emerging risks.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/03/2021 13:49:10 answering member 3991 label Biography information for Jesse Norman
tabling member	4046 label Biography information for Bridget Phillipson

1302220

registered interest
date	12/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Software: Capital Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether investment in software can qualify for 130 per cent super-deduction capital allowance in 2021-22 and 2022-23 under section 815 of the Corporation Tax Act 2009.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	167942
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The super-deduction capital allowance will allow companies to reduce their taxable profits by 130% of the value of their investment in plant and machinery.</p><p> </p><p>Investment in software can be classified as either a revenue expenditure, in which case it is deductible for tax purposes, or a capital expenditure, in which case it is generally addressed through the intangibles regime instead. This means software would be ineligible for the super-deduction.</p><p> </p><p>However, if a company wishes, they can choose to make an election under s815 Corporation Tax Act 2009 to remove software from the intangibles regime and instead claim capital allowances. In this case, the super-deduction will be available.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/03/2021 13:51:01 answering member 3991 label Biography information for Jesse Norman
tabling member	4657 label Biography information for Anneliese Dodds

1302221

registered interest
date	12/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Social Enterprises: Tax Allowances
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 increase the uptake of the Social Investment Tax Relief.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	167943
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The Social Investment Tax Relief (SITR) was introduced in 2014 to encourage risk finance investments in qualifying social enterprises. HMRC statistics show that up to 2018-19, about 110 enterprises have used the scheme to raise £11.2 million.</p><p> </p><p>At the Budget on 3 March, the Government announced that SITR would be extended for two years, until April 2023, to continue support for qualifying investments into social enterprises. SITR will be extended with its current eligibility rules and targeting, to ensure that the scheme continues to focus on higher risk social enterprises that face the greatest difficulties in accessing finance.</p><p> </p><p>The Government keeps all taxes and reliefs under review in order to ensure they continue to meet policy objectives in a way that is fair and effective. The Government previously published a Call for Evidence in 2019 on SITR’s use to date. The Government will publish a Summary of Responses to this on 23 March.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/03/2021 13:44:38 answering member 3991 label Biography information for Jesse Norman
tabling member	4657 label Biography information for Anneliese Dodds

1302222

registered interest
date	12/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Revenue and Customs: Standards
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps are being taken by HMRC to ensure there is uniform interpretation of customs rules at different entry points into the UK.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	167944
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>HMRC are supporting and building trader capability to ensure compliance across different entry points in the UK during staged controls and when full controls are put in place in January 2022.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/03/2021 13:46:47 answering member 3991 label Biography information for Jesse Norman
tabling member	4657 label Biography information for Anneliese Dodds

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