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1701992

registered interest
date	17/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Advance Pricing Agreements
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government how many advance transfer pricing agreements have been signed by HM Revenue and Customs in each of the past five years.
tabling member printed	Lord Sikka
uin	HL3907
answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>HM Revenue and Customs has entered into the following number of advance pricing agreements in the past five tax years:</p><ul><li>2018 to 2019: 30</li><li>2019 to 2020: 26</li><li>2020 to 2021: 24</li><li>2021 to 2022: 20</li><li>2022 to 2023: 15</li></ul><p>This information is included in the Transfer Pricing and Diverted Profits Tax Statistics 2022 to 2023 which are publicly available and published on gov.uk[1].</p><p> </p><p>[1] <a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2022-to-2023/transfer-pricing-and-diverted-profits-tax-statistics-2022-to-2023" target="_blank">Transfer Pricing and Diverted Profits Tax statistics 2022 to 2023 - GOV.UK (www.gov.uk)</a></p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 11:17:19 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4885 label Biography information for Lord Sikka

1700697

registered interest
date	15/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK-EU Trade and Cooperation Agreement
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to remarks by Baroness Vere of Norbiton on 21 February (HL Deb col 666) with regard to the Trade and Cooperation Agreement in the context of engaging with the EU for approval for extending the enterprise investment scheme (EIS) and venture capital trust (VCT) scheme, whether the subsidy control provisions of the Trade and Cooperation Agreement apply to EIS and VCT relief, in particular the requirement under Article 363 of that agreement that a subsidy must be selective.
tabling member printed	Lord Leigh of Hurley
uin	HL3766
answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The government is extending the sunset clause for the Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme to 2035.</p><p>The UK-EU Trade and Cooperation Agreement is now the primary framework governing subsidy control between the UK and EU. As such, EU State aid rules no longer apply to the UK, save for the limited circumstances covered by the Windsor Framework.</p><p>For the EIS and VCT schemes, the government is engaging with the EU, under the Windsor Framework, due to Northern Ireland’s unique access to the EU Single Market.</p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 10:33:32 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4295 label Biography information for Lord Leigh of Hurley

1700718

registered interest
date	15/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Premium Bonds
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what is their estimate for each of the past three years of their returns from retaining the proceeds of cashed-in Premium Bonds for up to six days before they are transferred to the holder’s bank account.
tabling member printed	Lord Wills
uin	HL3827
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>NS&amp;I raises cost effective finance for government from the retail savings market. It does this through offering savings products to consumers, including Premium Bonds. Funds raised by NS&amp;I from these products, including Premium Bonds, flow to the National Loans Fund (NLF). The NLF is the government’s main borrowing and lending account, and to this end, it undertakes borrowing (primarily by issuing gilts via the Debt Management Office) and uses proceeds and other central government surplus balances, including funds from NS&amp;I’s Premium Bonds, to manage its cash needs day-to-day.</p><p> </p><p>The Exchequer’s cash needs are managed on an aggregate basis, meaning funds raised from Premium Bonds are not held in a separate account and do not receive a separate rate of return (which in any case is determined by the market as the government is ultimately a price taker). Therefore, there is not a single rate of return on NS&amp;I proceeds and it would not be possible to provide an estimate of returns from retaining the proceeds of Premium Bonds.</p><p> </p><p>When a customer divests their holdings of Premium Bonds, these repayments are also funded via the NLF’s activities and are typically processed within three working days. However, in exceptional circumstances, such as Bank Holidays, this may take longer. This process allows HM Treasury to manage Exchequer cashflows in a cost effective manner.</p> answering member printed Baroness Vere of Norbiton question first answered 29/04/2024 14:32:57 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	260 label Biography information for Lord Wills

1700735

registered interest
date	15/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 8 April (HL3589), whether they will now answer the question put; namely, what is their assessment of the implications for calculating entitlement to contributory working age benefits and pensions of abolishing, rather than cutting, national insurance contributions.
tabling member printed	Baroness Lister of Burtersett
uin	HL3770
answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Government already cut employee NICs by 4p, self-employed NICs by 3p and abolished the requirement to pay Class 2 for self-employed people across Autumn and Spring without increasing borrowing or cutting spending. That is the model the Government wants to follow when it is prudent to go further.</p><p> </p><p>The ambition to abolish NICs is about reducing tax and rewarding work, not about reforming the contributory benefits system. It is a long-term ambition, and the Government has been clear, this cannot be done overnight and this can only be done in a fiscally responsible way.</p><p> </p><p>Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.</p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 10:35:56 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4234 label Biography information for Baroness Lister of Burtersett

1700747

registered interest
date	15/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Fishing Vessels: Subsidies
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what amount of fuel subsidy is received by the UK pelagic fishing fleet.
tabling member printed	Lord Randall of Uxbridge
uin	HL3787
answer	answer is ministerial correction date of answer 29/04/2024 answer text Qualifying fishing vessels are eligible for two fuel duty reliefs: entitlement to use red diesel, taxed at a reduced rate of 10.18p per litre, and marine voyages relief. The government does not consider either of these to be fossil fuel subsidies. answering member printed Baroness Vere of Norbiton question first answered 29/04/2024 10:26:47 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	209 label Biography information for Lord Randall of Uxbridge