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1437132

registered interest
date	01/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of the use of cryptocurrencies on tax receipts to his Department.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	132171
answer	answer is ministerial correction date of answer 07/03/2022 answer text <p>The Government is committed to retaining its global leadership position in fintech and to creating a regulatory environment that allows people to use innovative technologies reliably and safely, while protecting against the risks of them being exploited by criminals.</p><p> </p><p>Businesses trading in or using cryptoassets are taxed on their trading profits. Where a person realises Chargeable Gains from increases in the value of cryptoassets, Capital Gains Tax (CGT) or Corporation Tax on Chargeable Gains may be due. If CGT applies, only Chargeable Gains above the Annual Exempt Amount are taxed.</p><p> </p><p>Cryptoassets can be easily acquired and transferred, including across borders, and while the blockchain provides a transparent and immutable record of transactions, it does not usually record the identity of the owners of cryptoassets. HMRC has developed its capability to take advantage of opportunities that the blockchain offers for forensic compliance work in order to identify those that have failed to declare their gains. HMRC continues to actively monitor the compliance risks as the use of cryptoassets develops.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 07/03/2022 16:02:42 answering member 4517 label Biography information for Lucy Frazer
tabling member	1200 label Biography information for Sir Greg Knight

1417484

registered interest
date	27/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Red Diesel
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of proposals to restrict the use of red diesel from April 2022 on the mining and quarrying industry.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	113067
answer	answer is ministerial correction date of answer 01/02/2022 answer text <p>At Budget 2020, the Chancellor announced that the Government will remove the entitlement to use red diesel from most sectors from April 2022. This will more fairly reflect the negative environmental impact of the emissions they produce and help to ensure that the tax system incentivises the development and adoption of greener alternative technologies.</p><p> </p><p>The Government recognised that this would be a significant change for some businesses and ran a consultation to gather information from affected users on the expected impact of these tax changes and make sure it had not overlooked any exceptional reasons why affected sectors should be allowed to continue to use red diesel beyond April 2022. During the consultation period, the Government engaged directly with a wide variety of organisations, including representatives of the mining and quarrying sector.</p><p> </p><p>However, the Government did not believe that the case made by sectors that will not retain their red diesel entitlement, including the mining and quarrying sector, outweighed the need to ensure fairness between the different users of diesel fuels and the Government’s environmental objectives.</p><p> </p><p>To support the development of alternatives that affected businesses can switch to, the Government is at least doubling the funding provided for energy innovation through the £1 billion Net Zero Innovation Portfolio. From that portfolio, the Government announced the £40 million Red Diesel Replacement Competition, which will provide grant funding for projects that develop and demonstrate lower carbon, lower cost alternatives to red diesel for the construction, and mining and quarrying sectors.</p><p> </p><p>As announced at Spring Budget 2021, from 1 April 2021 until 31 March 2023, companies can also claim 130% first-year capital allowances on qualifying plant and machinery investments.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 01/02/2022 16:00:38 answering member 4527 label Biography information for Helen Whately
tabling member	1200 label Biography information for Sir Greg Knight

1387844

registered interest
date	14/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Evasion: Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the existing HMRC enforcement regime with regards to tax evasion using cryptocurrencies; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	92829
answer	answer is ministerial correction date of answer 05/01/2022 answer text <p>Cryptoassets present unique challenges to HMRC as they can be easily acquired and transferred, including across borders, but do not usually record the identity of their owners.</p><p> </p><p>HMRC has used powers provided by Parliament to gather information from cryptoasset exchanges. HMRC has written to customers where data shows they own, or have owned, cryptoassets. They have advised them of the tax consequences of common transactions.</p><p> </p><p>HMRC also applies traditional enforcement approaches, such as enquiring into tax returns.</p><p> </p><p>The UK continues to work with international partners, including multinational organisations such as the Organisation for Economic Co-operation and Development, to cooperate, share information, and develop responses.</p><p> </p><p>The majority of individuals and businesses wish to pay the tax that is due, and the Government wants to help them get their tax affairs right. HMRC has published guidance on the taxation of cryptoassets, which is among the most detailed guidance released by any tax administration, on what is a complex topic.</p><p> </p><p>HMRC has developed its capability to deal with risks arising from cryptoassets through the development of in-house training and the use of blockchain forensic tools.</p><p> </p><p>HMRC will continue to actively monitor the compliance risks as this technology develops and the uses and users of cryptoassets change.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 05/01/2022 14:15:05 answering member 4517 label Biography information for Lucy Frazer
tabling member	1200 label Biography information for Sir Greg Knight

1387544

registered interest
date	13/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cheques
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with UK Finance on the future of the cheque; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	91845
answer	answer is ministerial correction date of answer 16/12/2021 answer text <p>Cheques remain an important part of the UK’s payments landscape and, whilst there has been a decline in cheque volumes, they continue to be used by many individuals, businesses, and charities. In order to secure the future of cheque usage in the UK, HM Treasury introduced legislative measures in 2015 to allow UK banks and building societies to introduce ‘cheque imaging’. Cheque image clearing allows a digital image of a cheque to be sent for clearing, rather than the paper cheque itself.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:</p><p> </p><p><a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 16/12/2021 08:16:48 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight

1346349

registered interest
date	13/07/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps the Government is taking to help ensure that (a) vulnerable people, (b) the elderly and (c) people living in rural areas continue to have access to cash.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	32286
answer	answer is ministerial correction date of answer 19/07/2021 answer text <p>The Government recognises that cash is important to the daily lives of millions of individuals and businesses across the UK, including those who may be in vulnerable groups, elderly or living in rural areas.</p><p> </p><p>Therefore, the Government has committed to protecting access to cash for those who need it and ensuring that the UK's cash infrastructure is sustainable for the long term.</p><p> </p><p>The Government made legislative changes via the Financial Services Act 2021 to support the widespread offering of cashback without a purchase, which will allow shops and other businesses to offer a new form of cash withdrawal service to local communities.</p><p> </p><p>On 1 July, the Government published a consultation on broader legislative proposals to protect access to cash. These proposals seek to ensure that people only need to travel reasonable distances to pay in or take out cash, and that the right regulatory oversight for cash access is in place for the future. The consultation is available at: https://www.gov.uk/government/consultations/access-to-cash-consultation</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/07/2021 08:30:37 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight

1342491

registered interest
date	30/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Flood Control: Red Diesel
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the removal of the right to use red diesel from April 2022 for flood risk management purposes on the cost of pumping operations by IDBs and others; what consultation he has had with those likely to be affected; and what steps the Government plans to take to ensure that future flood prevention activities are not compromised.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	24905
answer	answer is ministerial correction date of answer 05/07/2021 answer text <p>The changes to the tax treatment of red diesel from April 2022 are designed to incentivise greater energy efficiency and the switch to more environmentally friendly alternatives in both the public and private sectors. The Government recognises that these changes may affect some public sector bodies, including Internal Drainage Boards, and Treasury officials met representatives from the drainage, water level and flood risk management sector to discuss these tax changes. The Treasury will discuss spending pressures that may arise in the public sector as part of the next Spending Review.</p><p> </p><p>The Government takes flood risk very seriously. That is why it has doubled the amount it invests in flood and coastal defences to £5.2 billion by 2027.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 05/07/2021 13:45:22 answering member 4597 label Biography information for Kemi Badenoch
tabling member	1200 label Biography information for Sir Greg Knight

1336654

registered interest
date	15/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Hospitality Industry: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the extension of covid-19 restrictions beyond 21 June 2021, what steps the Government is taking to support the hospitality sector; if he will take steps to reduce the tax burden on businesses affected by that extension; and what assessment he has made of the potential effect of raising VAT from 5 per cent in September 2021 on the events and hospitality sectors.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	16017
answer	answer is ministerial correction date of answer 21/06/2021 answer text <p>At Budget, the Chancellor was aware of the potential for short delays in the roadmap and announced a generous extension to existing economic support. In order to provide continuity for businesses, key measures including the Coronavirus Job Retention Scheme, Self-Employment Income Support Scheme, VAT cut extension, Business Rates Holiday, and Recovery Loan scheme do not end until September or after.</p><p> </p><p>The extension to the temporary reduced rate of VAT (5 per cent) for the tourism and hospitality sector means that the relief will now end on 30 September 2021. On 1 October 2021, a new reduced rate of 12.5 per cent will be introduced for these goods and services to help businesses manage the transition back to the standard rate. The new rate will end on 31 March 2022.</p><p> </p><p>This relief has cost over £7 billion and has helped support the cash flow and viability of 150,000 businesses and protect over 2.4 million jobs. While the Government keeps all taxes under review, there are no plans to extend the reduced rate of VAT further.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 21/06/2021 14:42:07 answering member 3991 label Biography information for Jesse Norman
tabling member	1200 label Biography information for Sir Greg Knight

1273802

registered interest
date	06/01/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU: Origin Marking
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to reduce paperwork and other bureaucracy required on issues relating to rules of origin affecting companies exporting to the EU from 2022; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	133718
answer	answer is ministerial correction date of answer 11/01/2021 answer text <p>The Government has been clear that leaving the Single Market and Customs Union will result in new customs processes for businesses trading with the EU. The UK has moved to a Free Trade Agreement (FTA) relationship, and Rules of Origin are a standard part of all FTAs.</p><p> </p><p>The Government has secured a number of administrative facilitations, such as self-certification of origin, and, until 31 December 2021, an easement on the need for UK businesses to hold supplier declarations at the time they issue statements on origin, which will considerably reduce the administrative burdens of complying with rules of origin in trade with the EU. The easement on supplier declarations has been introduced to allow businesses time to establish the necessary arrangements to meet the requirements of the agreement.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/01/2021 13:42:37 answering member 3991 label Biography information for Jesse Norman
tabling member	1200 label Biography information for Sir Greg Knight

1201556

registered interest
date	05/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tourism: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent representations he has received in support of a reduced UK VAT rate of 5 per cent for tourism attractions and accommodation providers; and if he will make an assessment of the potential benefit to the tourism sector of that proposition in advance of his next Budget.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	55663
answer	answer is ministerial correction date of answer 11/06/2020 answer text <p>Raising £130 billion in 2019/2020, VAT is an important source of revenue for the Exchequer and plays an important part in funding the Government’s spending priorities including hospitals, schools and defence.</p><p> </p><p>Reducing VAT on tourism and hospitality related activities would come at a considerable cost to the Exchequer. However, the Government keeps all taxes under review.</p><p> </p><p>In light of the COVID-19 outbreak, the Chancellor has pledged a range of measures to help individuals and businesses through the crisis, including grants, loans and relief from business rates worth more than £300 billion.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/06/2020 07:12:34 answering member 3991 label Biography information for Jesse Norman
tabling member	1200 label Biography information for Sir Greg Knight

1134573

registered interest
date	25/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Rural Areas
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor for the Exchequer, what discussions he has had with banks on the potential effect on rural communities of the removal of free cash machines from high streets.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	268990
answer	answer is ministerial correction date of answer 01/07/2019 answer text <p>The Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme, increasing the funding available for free ATMs in the most remote rural and deprived areas of the UK.</p><p> </p><p>The wider banking and finance industry is committed to helping local communities identify and secure appropriate free access to cash for customers. Regarding specific discussions, Treasury Ministers and Officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 01/07/2019 15:28:36 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight