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1025345

registered interest
date	14/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Land Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they plan to review the impact of stamp duty on (1) housing mobility, and (2) the frequency of housing transactions; and whether they consider any useful lessons can be drawn from the experience of the Republic of Ireland in reducing stamp duty.
tabling member printed	Lord Birt
uin	HL12311
answer	answer is ministerial correction date of answer 20/12/2018 answer text <p>The Government keeps all taxes under review and monitors a range of factors as part of that process.</p><p> </p><p>More broadly, SDLT continues to be an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides. As set out in HMRC’s April 2018 release on illustrative tax changes, a 1 percentage point reduction in the main rates of residential Stamp Duty Land Tax would cost an estimated £1.6 billion in 2019-20.</p> answering member printed Lord Bates question first answered 20/12/2018 14:09:46 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

1002211

registered interest
date	05/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the European Banking Authority's recent analysis of the strength of UK banks in adverse scenarios.
tabling member printed	Lord Birt
uin	HL11232
answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>The Government supports the use of stress tests as a tool to ensure the ongoing resilience of the European Union’s banking sector. Well capitalised banks, under a robust regulatory framework, are better able to lend to the economy, supporting jobs and growth. A full response to the European Banking Authority’s (EBA) report has been published by the Bank of England (BoE). The BoE noted that the results of the latest EBA test confirmed the results of earlier BoE stress tests that the participating UK banks would be resilient to a severe economic and market stress. The BoE will publish the results for its next annual stress tests on 5 December.</p> answering member printed Lord Bates question first answered 19/11/2018 16:22:02 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

997070

registered interest
date	29/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they will require firms offering international money transfer services to show the difference between the exchange rate they are offering and the interbank rate after Brexit.
tabling member printed	Lord Birt
uin	HL11074
answer	answer is ministerial correction date of answer 08/11/2018 answer text <p>Currently the Cross Border Payments Regulation (CPBR), an EU regulation, sets rules on the pricing of cross-border euro payments.</p><p> </p><p>A revised regulation, “CPBR2”, is currently under negotiation in the EU. The original Commission proposal, would, amongst other things, mandate greater transparency for cross-border payments which include currency conversion, through for example reference to the interbank exchange rate. The Government is broadly supportive of proposals which make financial services more affordable and pricing more transparent for consumers, while ensuring that regulation is proportionate to the risks that it seeks to address.</p><p>The Government is making good progress towards agreeing a Withdrawal Agreement with the EU, including an Implementation Period during which common rules would continue to apply until 31 December 2020.</p><p>After the Implementation Period, our proposal for the future UK-EU relationship on financial services would ensure that the development of regulation would be an autonomous matter for both the UK and the EU. Equally, we acknowledge that maintaining continued EU market access will, where necessary, involve maintaining comparable regulatory outcomes with the EU. The Chancellor has been clear that it is vitally important that the UK and the EU, with our common values and standards, continue to work closely together to further enhance the strong international rules we have forged in financial services. The Government has not committed to any changes to the policy outcomes of the current regime following the UK’s exit from the EU.</p> answering member printed Lord Bates question first answered 08/11/2018 15:57:14 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

980117

registered interest
date	01/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Probate
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they made of the efficiency of the probate processing by HMRC.
tabling member printed	Lord Birt
uin	HL10386
answer	answer is ministerial correction date of answer 16/10/2018 answer text <p>HMRC is responsible for processing Inheritance Tax accounts, required before probate can be applied for. The Chancellor of the Exchequer has recently commissioned the Office of Tax Simplification to look at ways in which the overall process can be simplified.</p><p> </p> answering member printed Lord Bates question first answered 16/10/2018 12:33:35 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

980118

registered interest
date	01/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, from the date they are first received, what is the current average time taken by HMRC to agree the IHT400 return calculations for estates in the bands (1) up to £1 million, (2) from £1–5 million, and (3) from £5–10 million; and in each band, what is the average time taken to issue a clearance.
tabling member printed	Lord Birt
uin	HL10387
answer	answer is ministerial correction date of answer 16/10/2018 answer text <p>HMRC cannot provide average times or break the data down into bands for the value of the estate as this information is not readily available and could only be compiled at disproportionate cost.</p><p> </p><p>Since 6 April 2018 over 95% of IHT400 returns submitted to HMRC were processed within 15 working days of receipt.</p><p><strong> </strong></p> answering member printed Lord Bates question first answered 16/10/2018 12:33:10 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

980119

registered interest
date	01/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the average time taken by the Valuation Office to provide advice to HMRC on estates valued in the bands (1) up to £1 million, (2) from £1–5 million, and (3) from £5–10 million.
tabling member printed	Lord Birt
uin	HL10388
answer	answer is ministerial correction date of answer 16/10/2018 answer text <p>The Valuation Office Agency does not hold the information requested.</p><p> </p><p>In 2017-18, the VOA cleared its initial appraisals of inheritance tax cases, referred to it by HMRC, within an average of five working days, meeting its target.</p> answering member printed Lord Bates question first answered 16/10/2018 12:33:53 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

980120

registered interest
date	01/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the current average time taken to provide a full and final response to executors once the Valuation Office has provided its advice to HMRC.
tabling member printed	Lord Birt
uin	HL10389
answer	answer is ministerial correction date of answer 16/10/2018 answer text <p>HMRC does not hold this information. Once Valuation Office Agency has provided advice, HMRC seek to write to the executor within 15 days of receiving that advice.</p> answering member printed Lord Bates question first answered 16/10/2018 12:33:21 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

856296

registered interest
date	06/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Markets
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have made an assessment of the Bank of America's survey of managers of global investment portfolios, which found that UK equities were the least attractive choice.
tabling member printed	Lord Birt
uin	HL6087
answer	answer is ministerial correction date of answer 20/03/2018 answer text <p>We do not comment on financial market movements or assessments of equity markets.</p> answering member printed Lord Bates question first answered 20/03/2018 15:37:23 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

845385

registered interest
date	20/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the comments made by Robert Chote, Chairman of the Office for Budget Responsibility, in the New Statesman on 24 January, that most of the work that trade economists have done shows that the costs of leaving the single market and the customs union are greater than the benefits.
tabling member printed	Lord Birt
uin	HL5585
answer	answer is ministerial correction date of answer 06/03/2018 answer text <p>The Office for Budget Responsibility (OBR) is an independent fiscal institution. Robert Chote’s comments in the New Statesman relate to an OBR judgement set out in their November 2017 Economic and Fiscal Outlook. The Government adopts the OBR’s independent forecasts as the official forecasts for the UK and as such, it would not be appropriate for the Government to comment on Robert Chote’s comments.</p> answering member printed Lord Bates question first answered 06/03/2018 12:49:28 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

845386

registered interest
date	20/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Foreign Companies: Japan
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, what assessment they have made of (1) the potential impact on the UK economy if Japanese companies decided to relocate away from the UK following the UK’s exit from the EU, and (2) any comments by the Japanese Ambassador on this issue.
tabling member printed	Lord Birt
uin	HL5586
answer	answer is ministerial correction date of answer 06/03/2018 answer text <p>The United Kingdom and Japan have a strong existing bilateral trade and investment relationship. We have agreed that as the United Kingdom leaves the European Union we will work quickly to establish a new economic partnership between Japan and the UK based on the final terms of the Japan-EU Economic Partnership Agreement. The UK is clear that it wants a smooth and orderly transition to its new relationship with the EU and our key partners, including Japan. The UK welcomes the many high value and high profile Japanese investments in the UK, and will work closely with Japanese business and government to build on these investments in future</p><p> </p><p>The Government is undertaking a wide range of analysis looking at the implications of UK withdrawal from the EU. Our programme of analysis is constantly developing and evolving, and included sectoral analysis.</p> answering member printed Lord Bates question first answered 06/03/2018 12:54:30 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt