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754496

registered interest
date	20/07/2017
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 distributional analysis his Department has carried out on the Government's plan to cut corporation tax to 17 per cent by 2020.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6564
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>The government has not conducted a full distributional analysis of cutting corporation tax to 17%. This is because there is insufficient data about the income distribution of corporate shareholders and uncertainty about the incidence of corporation tax.</p><p> </p><p>However, it is widely accepted, including by the Institute for Fiscal Studies, that a significant proportion of the burden of corporation tax is borne by workers and consumers, not just shareholders.</p><p> </p><p>As with all tax measures, the Government has published a tax information and impact note (TIIN) for this measure which provides our assessment that there are no equalities impacts.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6563 question first answered 06/09/2017 09:23:14 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754497

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Capital Gains Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much revenue was lost to the Exchequer as a result of the reduction of capital gains tax (a) basic rate to 10 per cent and (b) main rate to 20 per cent excluding residential property and carried interest since that reduction was implemented.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6565
answer	answer is ministerial correction date of answer 06/09/2017 answer text The estimated effect on Exchequer revenue resulting from the reduction of capital gains tax (a) basic rate to 10 per cent and (b) main rate to 20 per cent excluding residential property and carried interest was published at <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508147/PU1912_Policy_Costings_FINAL3.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508147/PU1912_Policy_Costings_FINAL3.pdf</a>. answering member constituency Central Devon answering member printed Mel Stride question first answered 06/09/2017 08:53:38 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754498

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Capital Gains Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what equality impact assessment his Department has undertaken on the reduction of capital gains tax (a) basic rate to 10 per cent and (b) main rate to 20 per cent excluding on residential property and carried interest.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6770
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>HM Treasury publishes distributional analysis of the cumulative impact of the Government’s tax, welfare, and public service spending decisions at each fiscal event, the latest of which can be found here:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf</a></p><p> </p><p>The Government publishes Tax Information and Impact notes (TIINs) for all tax policy changes. TIINs provide an explanation of the policy objective together with details of the tax impact on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact. All TIINs, including those for the Budget 2016 changes to Capital Gains Tax, can be found here:</p><p><strong><a href="https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins" target="_blank">https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins</a> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6549 6550 6590 question first answered 06/09/2017 09:00:33 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754500

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what equality impact assessment his Department has carried out on the provisions of the forthcoming Finance Bill; and if he will place in the Library a copy of the relevant documents when that Bill receives its First Reading.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6549
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>HM Treasury publishes distributional analysis of the cumulative impact of the Government’s tax, welfare, and public service spending decisions at each fiscal event, the latest of which can be found here:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf</a></p><p> </p><p>The Government publishes Tax Information and Impact notes (TIINs) for all tax policy changes. TIINs provide an explanation of the policy objective together with details of the tax impact on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact. All TIINs, including those for the Budget 2016 changes to Capital Gains Tax, can be found here:</p><p><strong><a href="https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins" target="_blank">https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins</a> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6550 6590 6770 question first answered 06/09/2017 09:00:32 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754501

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what distributional analysis his Department has carried out on the forthcoming Finance Bill; and if he will place in the Library a copy of the relevant documents when that Bill receives First Reading.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6550
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>HM Treasury publishes distributional analysis of the cumulative impact of the Government’s tax, welfare, and public service spending decisions at each fiscal event, the latest of which can be found here:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf</a></p><p> </p><p>The Government publishes Tax Information and Impact notes (TIINs) for all tax policy changes. TIINs provide an explanation of the policy objective together with details of the tax impact on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact. All TIINs, including those for the Budget 2016 changes to Capital Gains Tax, can be found here:</p><p><strong><a href="https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins" target="_blank">https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins</a> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6549 6590 6770 question first answered 06/09/2017 09:00:33 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754509

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has to introduce measures to tackle tax avoidance and evasion by people through nom-dom status and offshore trusts.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6461
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Since 2010, the Government have secured almost £160 billion in additional tax revenue as a result of actions to tackle tax evasion, tax avoidance and non-compliance. This includes more than £2.7 billon from offshore tax evaders, with action both at home and abroad.</p><p> </p><p>The UK already has effective legislation to tackle avoidance involving offshore trusts. We announced our intention to legislate further, making it harder for anybody to avoid paying tax on funds held in offshore trusts and to introduce tougher sanctions for those who fail to declare past UK tax liabilities on offshore interests before October 2018. The Government is introducing legislation which will raise over £1.5bn from non-domiciled individuals over a five-year period.</p><p> </p><p>The UK has been at the forefront of international work which has seen over 100 countries commit to automatically exchange financial account information. Furthermore, we have set up a register for trusts with tax consequences, we have introduced new civil and criminal sanctions for offshore tax evaders and those who help them, and since 2010, we have invested over £1.8 billion in HMRC to tackle evasion, avoidance and non-compliance.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6462 6560 question first answered 06/09/2017 09:25:34 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754510

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Offshore Trusts: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the loss of revenue to the Exchequer as a result of (a) tax avoidance and (b) tax evasion by people and companies through offshore trusts in each of the last 10 years.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6462
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Since 2010, the Government have secured almost £160 billion in additional tax revenue as a result of actions to tackle tax evasion, tax avoidance and non-compliance. This includes more than £2.7 billon from offshore tax evaders, with action both at home and abroad.</p><p> </p><p>The UK already has effective legislation to tackle avoidance involving offshore trusts. We announced our intention to legislate further, making it harder for anybody to avoid paying tax on funds held in offshore trusts and to introduce tougher sanctions for those who fail to declare past UK tax liabilities on offshore interests before October 2018. The Government is introducing legislation which will raise over £1.5bn from non-domiciled individuals over a five-year period.</p><p> </p><p>The UK has been at the forefront of international work which has seen over 100 countries commit to automatically exchange financial account information. Furthermore, we have set up a register for trusts with tax consequences, we have introduced new civil and criminal sanctions for offshore tax evaders and those who help them, and since 2010, we have invested over £1.8 billion in HMRC to tackle evasion, avoidance and non-compliance.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6461 6560 question first answered 06/09/2017 09:25:34 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754537

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has for the implementation of the provisions of schedule 19, paragraph 17, line 6 of the Finance Act 2016 on country-by-country reporting.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6559
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Knowing who ultimately owns and controls a company is a crucial part of the global fight against corruption, money laundering and terrorist financing. The UK is leading by example and our freely accessible public register of company beneficial ownership went live in June 2016.</p><p> </p><p>Last year, the UK co-launched a ground breaking new initiative with the EU G5 for the systematic exchange of beneficial ownership information. Since launching the initiative, over 50 countries, including all of the Crown Dependencies and relevant Overseas Territories, have signed up.</p><p> </p><p>Building on the success of that multilateral approach, the UK is now pushing for multilateral agreement on a model of public country-by-country reporting (CBCR).</p><p> </p><p>It is important that there is a level of international support and co-ordination that leads to both domestic and foreign headquartered groups being required to report information for a comprehensive range of countries in which they operate.</p><p> </p><p>That is necessary to ensure that public CBCR meets its objective and to avoid the initiative distorting business decisions on their group structure and headquarter location.</p><p> </p><p>The UK is, as part of this, engaging constructively with the European Commission proposal for public CBCR.</p><p> </p><p>That includes the high-level aims of the Directive, and the more detailed aspects of the Directive that are alluded to in the question, on which discussions are still ongoing.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6101 6102 6103 6104 question first answered 06/09/2017 09:07:51 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754538

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Capital Gains Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what distributional analysis his Department has carried out on the decrease of capital gains tax (a) basic rate to 10 per cent and (b) main rate to 20 per cent excluding residential property and carried interest.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6590
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>HM Treasury publishes distributional analysis of the cumulative impact of the Government’s tax, welfare, and public service spending decisions at each fiscal event, the latest of which can be found here:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf</a></p><p> </p><p>The Government publishes Tax Information and Impact notes (TIINs) for all tax policy changes. TIINs provide an explanation of the policy objective together with details of the tax impact on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact. All TIINs, including those for the Budget 2016 changes to Capital Gains Tax, can be found here:</p><p><strong><a href="https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins" target="_blank">https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins</a> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6549 6550 6770 question first answered 06/09/2017 09:00:32 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754542

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Offshore Trusts: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has to introduce measures to tackle tax avoidance and evasion by people and companies through offshore trusts.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6560
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Since 2010, the Government have secured almost £160 billion in additional tax revenue as a result of actions to tackle tax evasion, tax avoidance and non-compliance. This includes more than £2.7 billon from offshore tax evaders, with action both at home and abroad.</p><p> </p><p>The UK already has effective legislation to tackle avoidance involving offshore trusts. We announced our intention to legislate further, making it harder for anybody to avoid paying tax on funds held in offshore trusts and to introduce tougher sanctions for those who fail to declare past UK tax liabilities on offshore interests before October 2018. The Government is introducing legislation which will raise over £1.5bn from non-domiciled individuals over a five-year period.</p><p> </p><p>The UK has been at the forefront of international work which has seen over 100 countries commit to automatically exchange financial account information. Furthermore, we have set up a register for trusts with tax consequences, we have introduced new civil and criminal sanctions for offshore tax evaders and those who help them, and since 2010, we have invested over £1.8 billion in HMRC to tackle evasion, avoidance and non-compliance.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6461 6462 question first answered 06/09/2017 09:25:34 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell