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1404285

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	High Income Child Benefit Tax Charge
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 December 2021 to Question 87844 on Child Benefit: Taxation, what estimate he has made of the number and proportion of eligible claimants who have opted out of High Income Child Benefit in each year from 2013 to 2020; and what assessment he has made of the effect of maintaining the adjusted net income threshold for that benefit at £50,000 on tax revenues in (a) 2013 and (b) 2020.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	107639
answer	answer is ministerial correction date of answer 25/01/2022 answer text <p>The High Income Child Benefit Charge (HICBC) was introduced in January 2013 to target support at those who need it most. It applies to anyone with an income over £50,000 who claims Child Benefit or whose partner claims it. The charge is tapered for taxpayers with incomes between £50,000 and £60,000. Where income is over £60,000, the amount of the charge is equal to the Child Benefit payments.</p><p> </p><p>The table below shows the number and proportion of eligible claimants who have opted out of Child Benefit in each year from 2013 to 2020. These are the latest figures available.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>Total number of families claiming Child Benefit payment + Total number of families that have opted out of receiving Child Benefit payment (United Kingdom)</p></td><td><p>Total number of families that have opted out of receiving Child Benefit payment (United Kingdom)</p></td><td><p>Total number of families that have opted out of receiving Child Benefit payment as a proportion of the total number of families claiming Child Benefit payment + total number of families that have opted out of receiving Child Benefit payment (United Kingdom)</p></td></tr><tr><td><p>August 2013</p></td><td><p>7,947,000</p></td><td><p>397,000</p></td><td><p>5%</p></td></tr><tr><td><p>August 2014</p></td><td><p>7,937,000</p></td><td><p>476,000</p></td><td><p>6%</p></td></tr><tr><td><p>August 2015</p></td><td><p>7,908,000</p></td><td><p>492,000</p></td><td><p>6%</p></td></tr><tr><td><p>August 2016</p></td><td><p>7,900,000</p></td><td><p>504,000</p></td><td><p>6%</p></td></tr><tr><td><p>August 2017</p></td><td><p>7,893,000</p></td><td><p>516,000</p></td><td><p>7%</p></td></tr><tr><td><p>August 2018</p></td><td><p>7,871,000</p></td><td><p>545,000</p></td><td><p>7%</p></td></tr><tr><td><p>August 2019</p></td><td><p>7,863,000</p></td><td><p>582,000</p></td><td><p>7%</p></td></tr><tr><td><p>August 2020</p></td><td><p>7,834,000</p></td><td><p>624,000</p></td><td><p>8%</p></td></tr></tbody></table><p> </p><p>The Government is committed to managing the public finances in a disciplined and responsible way by targeting support where it is most needed. The Government considers the adjusted net income threshold of £50,000 used in the administration of the HICBC to be set at the right level. Only a small minority of taxpayers, with comparatively high incomes are affected. As with all elements of tax policy, the Government keeps this under review as part of the annual Budget process. The tax revenue from the HICBC in the 2013/14 tax year was £431m and in 2019/20, it was £416m.</p><p> </p><p>Details on the numbers of Child Benefit opt-outs and tax raised are published annually on GOV.UK at:</p><p> </p><p>https://www.gov.uk/government/publications/high-income-child-benefit-charge-data/high-income-child-benefit-charge (opens in a new tab).</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 25/01/2022 17:57:02 answering member 4655 label Biography information for Sir Simon Clarke
tabling member	4488 label Biography information for Martyn Day

1404345

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Members: Correspondence
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when he plans to respond to the correspondence of 17 November 2021 from the hon. Member for High Peak, reference RL30688.
tabling member constituency	High Peak
tabling member printed	Robert Largan
uin	107751
answer	answer is ministerial correction date of answer 27/01/2022 answer text <p>A response was sent to the Member on 16 December 2021 and a further copy has been sent by email.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 27/01/2022 15:54:52 answering member 4527 label Biography information for Helen Whately
tabling member	4852 label Biography information for Robert Largan

1404348

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Members: Correspondence
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when he plans to respond to the correspondence of 1 December 2021 from the hon. Member for High Peak, reference RL30875.
tabling member constituency	High Peak
tabling member printed	Robert Largan
uin	107753
answer	answer is ministerial correction date of answer 27/01/2022 answer text <p>A response was sent to the Member on 12 January 2022 and a further copy has been sent by email.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 27/01/2022 15:53:24 answering member 4527 label Biography information for Helen Whately
tabling member	4852 label Biography information for Robert Largan

1404392

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates: Barnsley Central
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact of business rates on small and medium businesses in Barnsley Central constituency.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	107581
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>The review of the business rates system concluded at Autumn Budget 2021 with the publication of the Final Report.</p><p>The Final Report reaffirmed the importance of business rates for raising revenue for essential local services, introduced substantive interventions to the business rates system, and announced a package of measures worth £7 billion over the next 5 years.</p><p> </p><p>The review set out new measures to reduce the burden of business rates on firms, including further relief for high street businesses, including extending Transitional Relief for an additional year, restricting bill increases to 15 per cent for small properties (up to £20,000 Rateable Value), and 25 per cent for medium properties (up to £100,000 Rateable Value), subject to subsidy control limits.</p><p> </p><p>Local authorities have discretion to determine how much funding they provide to businesses and have the flexibility to target local businesses that are important to their local economies.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 24/01/2022 14:37:37 answering member 4517 label Biography information for Lucy Frazer
tabling member	4243 label Biography information for Dan Jarvis

1404409

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Soft Drinks: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the revenue raised from the soft drinks industry levy is ringfenced for use by the Department for Education.
tabling member constituency	Twickenham
tabling member printed	Munira Wilson
uin	107730
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>The Soft Drinks Industry Levy (SDIL) is not formally linked to any individual spending programme.</p><p> </p><p>However, the Government will continue to invest in supporting public health and tackling obesity. This includes over £200m a year to continue the Holiday Activities and Food programme, announced at Spending Review 2021, and the £320 million per year Physical Education (PE) and Sport Premium.</p><p> </p><p>The money allocated to these causes exceeds the revenue raised by the SDIL.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 24/01/2022 10:57:15 answering member 4527 label Biography information for Helen Whately
tabling member	4776 label Biography information for Munira Wilson

1404487

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Second Homes: Council Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will bring forward proposals to increase council tax by up to 100 per cent on second homes.
tabling member constituency	Westmorland and Lonsdale
tabling member printed	Tim Farron
uin	107535
answer	answer is ministerial correction date of answer 27/01/2022 answer text <p>It would not be appropriate to comment on the likelihood of future tax changes outside of fiscal events. However, the Government keeps all tax policy under review.</p><p>It is worth noting that purchases of second homes in England and Northern Ireland will be liable to pay the Higher Rates for Additional Dwellings Stamp Duty Land Tax surcharge. This was introduced in 2016 as part of the Government’s commitment to support first time buyers.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 27/01/2022 16:06:09 answering member 4517 label Biography information for Lucy Frazer
tabling member	1591 label Biography information for Tim Farron

1404697

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Home Shopping: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to introduce an online sales tax; and, as part of any such plans, whether they intend to hold consultative forums with small businesses, including booksellers.
tabling member printed	Baroness Merron
uin	HL5551
answer	answer is ministerial correction date of answer 31/01/2022 answer text <p>At Autumn Budget 2021, the Government announced that it will continue to explore the arguments for and against an Online Sales Tax (OST). No decisions on whether to proceed with an OST have yet been made. If implemented, the revenue from an OST would be used to provide business rates relief for in-store retail. The consultation will launch shortly.</p><p> </p><p>The Government would welcome views and evidence from a range of stakeholders, including small businesses and booksellers. Details of how interested stakeholders can engage with the process will be published alongside the consultation.</p> answering member printed Viscount Younger of Leckie question first answered 31/01/2022 17:13:34 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	347 label Biography information for Baroness Merron

1404713

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Non-fungible Tokens
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to create a regulatory framework for non-fungible tokens.
tabling member printed	Lord Taylor of Warwick
uin	HL5567
answer	answer is ministerial correction date of answer 31/01/2022 answer text <p>There is not a dedicated regulatory framework for non-fungible tokens (NFTs) in the UK. On 18 January, the government announced its intention to legislate later this year to bring certain cryptoassets into the scope of financial promotions regulation; however, the government explained that NFTs will not be brought into financial promotions regulation. The consultation response noted:</p><p> </p><p>NFTs may represent a wide array of different assets which might constitute non-financial services products. Additionally, as the NFT market is evolving rapidly and remains at an early stage of development, the government does not yet have sufficient information on risks and use-cases. As such, seeking to bring NFTs into scope might have unintended consequences for the market. Instead, the government will continue to closely monitor market developments, and stands ready to take further legislative action if required.</p> answering member printed Viscount Younger of Leckie question first answered 31/01/2022 16:05:18 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	1796 label Biography information for Lord Taylor of Warwick

1404715

registered interest
date	19/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wealth: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made, if any, of the letter from 102 millionaires and billionaires to attendees to the World Economic Forum in Davos, calling for the introduction of wealth taxes.
tabling member printed	Baroness Whitaker
uin	HL5569
answer	answer is ministerial correction date of answer 31/01/2022 answer text <p>The Government has noted the open letter and the suggestion of an annual wealth tax.</p><p> </p><p>The Government is committed to a fair tax system in which those with the most contribute the most. For example, the UK’s progressive Income Tax system means the top 1 per cent of Income Taxpayers are projected to pay 28 per cent of all Income Tax, and the top 5 per cent are projected to pay 49 per cent in the year 2021-22.</p><p>The UK does not have a single wealth tax, but it does have several taxes on assets and wealth. The UK already taxes assets and wealth across many different economic activities, including the acquisition, holding, transfer and disposal of assets, and income derived from assets.</p><p> </p><p>Notably, in 2020 the Wealth Tax Commission, which has no connection or link to the Government, found that if considering Inheritance Tax, Capital Gains Tax, Stamp Duty, and Stamp Duty Land Tax, the UK is among the top of the G7 countries for wealth taxes as a percentage of total wealth.</p><p> </p><p>The Wealth Tax Commission also concluded that an annual wealth tax, reportedly suggested by the UK branch of the group behind the letter, would not be effective because of high administrative costs relative to revenue and ease of avoidance. It is also clear that the Wealth Tax Commission’s suggestion of a potential one-off wealth tax in the UK would be a complex undertaking and the amount of revenue raised would be highly dependent on the final design of the tax.</p><p>It is also the case that any individual or private business wishing to make a greater contribution to the Exchequer can make voluntary payments to HM Government. More information about how to do so is available on GOV.UK.</p> answering member printed Viscount Younger of Leckie question first answered 31/01/2022 17:19:34 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	2510 label Biography information for Baroness Whitaker