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872604

registered interest
date	27/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether his Department plans to contribute to the debate arising from the Financial Conduct Authority's discussion paper, Transforming culture in Financial Services, published on 12 March 2018.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	134418
answer	answer is ministerial correction date of answer 06/04/2018 answer text <p>The Government welcomes the Financial Conduct Authority’s recent discussion paper, ‘Transforming Culture in Financial Services’. The Government has implemented a number of reforms since the financial crisis to improve conduct and encourage a more positive culture in the financial services sector, including through the introduction of the Senior Managers and Certification Regime. The Government will continue to engage with the financial regulators and industry to progress this important issue, including to consider the views raised in this discussion paper.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/04/2018 08:58:20 answering member 4051 label Biography information for John Glen
tabling member	4131 label Biography information for Jim Shannon

804255

registered interest
date	11/12/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to assist people with household debt.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	118436
answer	answer is ministerial correction date of answer 19/12/2017 answer text <p>The Government established the Money Advice Service, which spent just under £49m last year to provide over 440,000 free-to-user debt advice sessions. And we are now creating a Single Financial Guidance Body to ensure consumers get better money and pensions guidance, and debt advice.</p><p> </p><p>The Government is also committed to establishing a six-week breathing space scheme. It published a Call for Evidence on the scheme in October. An amendment to the Financial Guidance and Claims Bill gives the Government the ability to implement the scheme, after receiving advice on aspects of the scheme from the Single Financial Guidance Body.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 19/12/2017 13:53:26 answering member 4095 label Biography information for Steve Barclay
tabling member	4131 label Biography information for Jim Shannon

782650

registered interest
date	02/11/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Equitable Life Assurance Society: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what representations he has received from Equitable Life policyholders on that company's policy of restricting queries on payments to email and letters.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	111011
answer	answer is ministerial correction date of answer 08/11/2017 answer text <p>Due to the low level of demand, a move to start a telephone call centre does not currently offer good value for money. If a policyholder prefers to talk to the Scheme administrator they can request this as part of their initial written communication.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 08/11/2017 11:19:53 answering member 4095 label Biography information for Steve Barclay
tabling member	4131 label Biography information for Jim Shannon

773090

registered interest
date	18/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Equitable Life Assurance Society: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether he or a Minister of his Department will meet with the Equitable Members Action Group to discuss the level of payments made available to policyholders in relation to the relative losses suffered as a result of past government and regulatory maladministration.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	108608
answer	answer is ministerial correction date of answer 24/10/2017 answer text <p>Up to £1.5bn has already been allocated to the Equitable Life Payment Scheme to pay to policyholders. There are no plans to reopen the Payment Scheme or to allocate further funds to it.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 24/10/2017 14:13:08 answering member 4095 label Biography information for Steve Barclay
tabling member	4131 label Biography information for Jim Shannon

759194

registered interest
date	11/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Situation
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 potential effect on the country's gross domestic product of the UK leaving the EU without a deal.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	10008
answer	answer is ministerial correction date of answer 19/09/2017 answer text <p>Government has undertaken a significant amount of work to assess the economic impacts of leaving the EU. This is part of our continued programme of rigorous and extensive analytical work on a range of scenarios on a sector by sector basis.</p><p> </p><p>All departments need to prepare not just for a negotiated settlement, but also for the no deal scenario. We are confident that we will secure a deal, but are prepared should there be no deal.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 19/09/2017 10:22:29 answering member 4095 label Biography information for Steve Barclay
tabling member	4131 label Biography information for Jim Shannon

749299

registered interest
date	06/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Overseas Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps are being taken to improve transparency of loans made to Governments outside the UK.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	3421
answer	answer is ministerial correction date of answer 14/07/2017 answer text <p>The Loans to Ireland Act 2010 provided Parliamentary authorisation for a bilateral loan of £3.2 billion to Ireland. Under section 2 of this Act, HM Treasury provides a report to Parliament on the UK’s bilateral loan to Ireland as soon as practicable after 31 March and 30 September each year. The UK also provides lending to overseas buyers to support UK exporters through UK Export Finance, details of which are reported in their annual report. The UK also has a limited portfolio of loans to developing countries made in the past through the Department for International Development, and the balances are reported in DFID’s annual report. The UK engages in discussions on debt internationally and has agreed to principles on debt sustainability in the G20. This includes work to improve transparency sovereign debt data.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 14/07/2017 12:00:27 answering member 4095 label Biography information for Steve Barclay
tabling member	4131 label Biography information for Jim Shannon

746868

registered interest
date	29/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Income Tax: Landlords
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many people declaring an income from letting out property pay the (a) additional, (b) higher and (c) standard rates of income tax.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	2003
answer	answer is ministerial correction date of answer 04/07/2017 answer text <p>The government is unable to produce an estimate for the total tax collected from declared income from residential rental properties. This is because income tax receipts cannot be allocated to individual income sources. Individuals may have multiple income sources but pay tax on their total income subject to income tax, after deducting their tax allowances. These allowances and tax rates are not applied to income streams individually but to total taxable income.</p><p> </p><p>The table below provides a breakdown of the number of individual unincorporated landlords by their tax brackets on the basis of the 2014-15 self-assessment returns. Figures in the table reflect outturn data on landlords’ total incomes subject to income tax which includes, among others, rental incomes.</p><p> </p><table><tbody><tr><td colspan="3"><p>Number of individual landlords by marginal rate, 2014-15 (rounded to nearest thousand)</p></td></tr><tr><td><p>Basic rate</p></td><td><p>Higher rate</p></td><td><p>Additional rate</p></td></tr><tr><td><p>1,254,000</p></td><td><p>584,000</p></td><td><p>82,000</p></td></tr></tbody></table> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 2004 question first answered 04/07/2017 13:55:27 answering member 3935 label Biography information for Mel Stride
tabling member	4131 label Biography information for Jim Shannon

746869

registered interest
date	29/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Rented Housing: Tax Collection
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the total tax collected from declared income from residential rental properties was in each year since 2010-11.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	2004
answer	answer is ministerial correction date of answer 04/07/2017 answer text <p>The government is unable to produce an estimate for the total tax collected from declared income from residential rental properties. This is because income tax receipts cannot be allocated to individual income sources. Individuals may have multiple income sources but pay tax on their total income subject to income tax, after deducting their tax allowances. These allowances and tax rates are not applied to income streams individually but to total taxable income.</p><p> </p><p>The table below provides a breakdown of the number of individual unincorporated landlords by their tax brackets on the basis of the 2014-15 self-assessment returns. Figures in the table reflect outturn data on landlords’ total incomes subject to income tax which includes, among others, rental incomes.</p><p> </p><table><tbody><tr><td colspan="3"><p>Number of individual landlords by marginal rate, 2014-15 (rounded to nearest thousand)</p></td></tr><tr><td><p>Basic rate</p></td><td><p>Higher rate</p></td><td><p>Additional rate</p></td></tr><tr><td><p>1,254,000</p></td><td><p>584,000</p></td><td><p>82,000</p></td></tr></tbody></table> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 2003 question first answered 04/07/2017 13:55:27 answering member 3935 label Biography information for Mel Stride
tabling member	4131 label Biography information for Jim Shannon

746870

registered interest
date	29/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Housing: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what taxes related to property are paid by (a) unincorporated residential landlords on properties they rent out and (b) owner occupiers.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	2005
answer	answer is ministerial correction date of answer 04/07/2017 answer text <p>Unincorporated residential landlords are chargeable to income tax on the profits of their rental business.</p><p> </p><p>A landlord who buys a property is liable to stamp duty land tax on the purchase price. A landlord who sells a rental property will pay capital gains tax on any increase in the value of the property.</p><p> </p><p>Unincorporated residential landlords will not usually be registered for VAT as domestic lets are exempt from VAT.</p><p> </p><p>An owner occupier would be chargeable to income tax on any rental income from their property. An owner occupier would also pay stamp duty land tax when they buy a property.</p><p> </p><p>An owner occupier would not pay capital gains tax on the sale of a property that had been their main residence for the whole period of ownership, as this would be exempted by private residence relief.</p><p> </p><p>Owner occupiers would usually be liable for council tax.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 04/07/2017 13:47:30 answering member 3935 label Biography information for Mel Stride
tabling member	4131 label Biography information for Jim Shannon

746871

registered interest
date	29/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has to review the effect of mortgage interest relief changes as they apply to landlords.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	2006
answer	answer is ministerial correction date of answer 04/07/2017 answer text <p>As with all aspects of the tax system, the government will keep the taxation of property income under review.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 04/07/2017 13:51:13 answering member 3935 label Biography information for Mel Stride
tabling member	4131 label Biography information for Jim Shannon