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1064196

registered interest
date	19/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT: Electronic Government
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their estimate of the annual saving to HMRC of requiring VAT registered businesses to maintain their VAT records and to submit their VAT returns via Making Tax Digital; and what is their estimate of the incremental cost to the totality of VAT registered businesses of compliance with this requirement.
tabling member printed	Lord Birt
uin	HL13843
answer	answer is ministerial correction date of answer 05/03/2019 answer text <p>HMRC’s revised assessment of impacts for Making Tax Digital (MTD) for VAT estimates that there will be an ongoing net cost to VAT registered businesses with a turnover above the VAT threshold of £37m. HMRC estimates that the behavioural impacts of Making Tax Digital will contribute over £1bn to the Exchequer by 2022 to 2023.</p> answering member printed Lord Bates question first answered 05/03/2019 13:57:15 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

1036904

registered interest
date	07/01/2019
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, further to the Written Answer by Lord Bates on 20 December (HL12311), what impact Stamp Duty Land Tax has had on (1) housing mobility, and (2) the frequency of housing transactions, since 2014.
tabling member printed	Lord Birt
uin	HL12546
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>HMRC publish quarterly and annual statistics on transaction volumes which are available on GOV.UK.</p><p> </p><p>At Autumn Statement 2014 the Government reformed the structure of Stamp Duty Land Tax, cutting the tax paid on all purchases of residential property to a value of £937,500, unless purchasing additional property – a reduction for 98% of those paying the tax.</p><p> </p><p>Housing market activity is affected by a wide variety of factors, of which Stamp Duty Land Tax is just one.</p> answering member printed Lord Bates question first answered 21/01/2019 15:45:48 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt