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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

746872

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, how many rental properties will be affected by changes to mortgage interest relief being phased-in since April 2017.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	2007
answer	answer is ministerial correction date of answer 04/07/2017 answer text <p>Using self-assessment data, HM Revenue and Customs (HMRC) estimated that only 1 in 5 landlords will pay more tax as a result of this measure. No estimate has been made specifically about the number of properties that will be affected by this change. This is because taxpayers currently do not inform HMRC how many properties their finance costs relate to.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 04/07/2017 13:58:16 answering member 3935 label Biography information for Mel Stride
tabling member	4131 label Biography information for Jim Shannon

731300

registered interest
date	21/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
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 level of UK GDP of the UK leaving the EU prior to the conclusion of any deal with the EU.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	153
answer	answer is ministerial correction date of answer 26/06/2017 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 good deal for the UK, but are prepared should there be no deal.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 26/06/2017 15:17:23 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4131 label Biography information for Jim Shannon

693644

registered interest
date	23/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Welfare Tax Credits
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what his timetable is for the review of cases of families who had their tax credits restricted or removed by Concentricx
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	65421
answer	answer is ministerial correction date of answer 03/03/2017 answer text <p>HM Revenue and Customs (HMRC) is carrying out a risk-based assurance review of the remaining High Risk Renewal 2016 cases where Concentrix has amended or terminated a claimant’s award but no Mandatory Reconsideration has been requested. HMRC is reviewing these cases to establish that decisions by Concentrix were properly made and communicated to claimants. Current plans indicate that this activity is expected to be completed by 31 March 2017.</p> answering member constituency Battersea answering member printed Jane Ellison question first answered 03/03/2017 10:06:44 answering member 3918 label Biography information for Jane Ellison
tabling member	4131 label Biography information for Jim Shannon

692445

registered interest
date	21/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Self-assessment
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much has been accrued to the public purse from fines levied by HM Revenue and Customs for late submission of tax returns in the last 12 months.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	64838
answer	answer is ministerial correction date of answer 01/03/2017 answer text <p>It is not possible to separately identify the figure for late submission of tax returns, but in 2015-16 the total accrued revenue for all fines and penalties was £1.0 billion. This is reported on page 160 of HM Revenue and Customs’ Annual Report and Accounts, which are available to view at: <a href="https://www.gov.uk/government/publications/hmrc-annual-report-and-accounts-2015-to-2016" target="_blank">https://www.gov.uk/government/publications/hmrc-annual-report-and-accounts-2015-to-2016</a>.</p><p> </p> answering member constituency Battersea answering member printed Jane Ellison question first answered 01/03/2017 15:51:09 answering member 3918 label Biography information for Jane Ellison
tabling member	4131 label Biography information for Jim Shannon