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1300694

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Institutions: Disclosure of Information
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department has taken to ensure that banks, building societies and other financial institutions report accurate financial data to HMRC; and what redress is available in the event of financial institutions’ non-compliance.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	165686
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>Banks, building societies and other financial institutions are required to provide a variety of information returns to HM Revenue and Customs (HMRC) on an accurate and timely basis. They are subject to HMRC’s usual compliance processes and if the information provided is late or found to be inaccurate following a compliance check, the taxpayer may be subject to penalties.</p><p> </p><p>The UK’s largest businesses, which includes many financial institutions, are subject to an enhanced risk review, as part of HMRC’s Business Risk Review process.</p><p> </p><p>In addition to this, over 98% of banks and building societies are signatories to the Code of Practice on Taxation for Banks. Their commitments under the Code include complying with their tax obligations, which include providing accurate information to HMRC, as well as maintaining a transparent relationship with HMRC. If a signatory is found to be in breach of these commitments, HMRC are able to disclose this, naming the bank in their annual report on the Code.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/03/2021 13:52:45 answering member 3991 label Biography information for Jesse Norman
tabling member	4786 label Biography information for Zarah Sultana

1300867

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-employment Income Support Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, for what reasons businesses eligible for the fifth self-employed grant announced in Budget 2021 will be eligible to claim the equivalent of 80 per cent of three months average trading profits capped at £7,500 when the grant period covers five months from May to September; and what plans he has to help meet lost income for the remaining two months.
tabling member constituency	Brighton, Pavilion
tabling member printed	Caroline Lucas
uin	165488
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The Government announced at Budget 2021 that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant. The fourth SEISS grant, available to claim from late April, will be worth 80% of average trading profits, paid out in a single instalment covering three months’ worth of annual profits, and capped at £7,500 in total. Further details of the fifth SEISS grant will be published in due course.</p><p> </p><p>Grants are now based on 2019-20  tax returns which is the most up to date information HMRC holds for self-employed individuals. This means that the Government is now in a position to provide support to hundreds of thousands of newly eligible self-employed individuals.</p><p>Using these returns requires time to deliver, due to the increased population and new data. Guidance on how to claim the fourth grant will be available in due course.</p><p> </p><p>The SEISS and the Coronavirus Job Retention Scheme (CJRS) are very different schemes. The CJRS pays for hours which are not worked, while SEISS claimants can work while claiming. Furthermore, as the Chancellor announced, employers will be required to contribute to CJRS payments as the economy reopens.  The SEISS is not intended to provide a month-by-month replacement of income. Due to the volatility of self-employed income and the lack of granular data that HMRC hold on self-employed trading profits, precise mapping of income replacement month by month is not possible. Instead, the SEISS provides a lump sum payment to support eligible self-employed individuals whose businesses have been affected by coronavirus.</p><p> </p><p>The SEISS is just one part of a wider package of support for the self-employed. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 165489 question first answered 17/03/2021 13:42:45 answering member 3991 label Biography information for Jesse Norman
tabling member	3930 label Biography information for Caroline Lucas

1300868

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-employment Income Support Scheme
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 provide financial support for people potentially eligible for the Self-Employed Income Support Scheme (SEISS) prior to being able to make a claim to either the fourth or fifth SEISS grants; and for what reasons that scheme does not deliver parity with the Coronavirus Job Retention Scheme with regard to the payment schedule.
tabling member constituency	Brighton, Pavilion
tabling member printed	Caroline Lucas
uin	165489
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The Government announced at Budget 2021 that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant. The fourth SEISS grant, available to claim from late April, will be worth 80% of average trading profits, paid out in a single instalment covering three months’ worth of annual profits, and capped at £7,500 in total. Further details of the fifth SEISS grant will be published in due course.</p><p> </p><p>Grants are now based on 2019-20  tax returns which is the most up to date information HMRC holds for self-employed individuals. This means that the Government is now in a position to provide support to hundreds of thousands of newly eligible self-employed individuals.</p><p>Using these returns requires time to deliver, due to the increased population and new data. Guidance on how to claim the fourth grant will be available in due course.</p><p> </p><p>The SEISS and the Coronavirus Job Retention Scheme (CJRS) are very different schemes. The CJRS pays for hours which are not worked, while SEISS claimants can work while claiming. Furthermore, as the Chancellor announced, employers will be required to contribute to CJRS payments as the economy reopens.  The SEISS is not intended to provide a month-by-month replacement of income. Due to the volatility of self-employed income and the lack of granular data that HMRC hold on self-employed trading profits, precise mapping of income replacement month by month is not possible. Instead, the SEISS provides a lump sum payment to support eligible self-employed individuals whose businesses have been affected by coronavirus.</p><p> </p><p>The SEISS is just one part of a wider package of support for the self-employed. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 165488 question first answered 17/03/2021 13:42:45 answering member 3991 label Biography information for Jesse Norman
tabling member	3930 label Biography information for Caroline Lucas

1300937

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bradford and Bingley: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the answer of 9 March 2021 of Question 160588 on Bradford & Bingley: Investment, if he will ensure Bradford & Bingley shareholders at the time it was taken into public hands receive a share of the profits that have been generated to the public purse by Bradford & Bingley since it was taken into public ownership.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	165482
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>Following the nationalisation of Bradford &amp; Bingley (B&amp;B) in 2008, the then government made the Bradford &amp; Bingley plc Compensation Scheme Order, which provided that former shareholders should receive compensation in line with their value immediately before the government stepped in.</p><p> </p><p>On 5 July 2010, Peter Clokey published his independent valuation establishing that the shares of B&amp;B had no value at the time of nationalisation, and shareholders would have received nothing had the bank been allowed to fail. No compensation was therefore found to be payable to former shareholders.</p><p> </p><p>This has been tested in the Courts and the government considers the matter closed.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 17/03/2021 16:26:37 answering member 4051 label Biography information for John Glen
tabling member	1565 label Biography information for Sir Philip Davies

1300942

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bradford and Bingley and NRAM: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 March 2020 to question 160588 on Bradford and Bingley: Investment, if he will publish a breakdown of the figures for (a) Bradford and Bingley and (b) NRAM.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	165483
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>The figures in the OBR’s March 2021 Economic and Fiscal Outlook encapsulate the fiscal impact of the government’s interventions in both Bradford &amp; Bingley plc (B&amp;B) and NRAM Limited. More information on the financial record of B&amp;B and NRAM are available in B&amp;B’s Annual Report and Accounts, available on the UK Asset Resolution (UKAR) website.</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/03/2021 16:31:05 answering member 4051 label Biography information for John Glen
tabling member	1565 label Biography information for Sir Philip Davies

1300943

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wholesale Trade: Food
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to create a version of Scotland's Wholesale Food and Drink Resilience Fund for England.
tabling member constituency	York Outer
tabling member printed	Julian Sturdy
uin	165520
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>Throughout the Covid-19 crisis, the Government has protected people’s jobs and livelihoods while also supporting businesses and public services across the UK. Food and drink wholesalers have been eligible for a number of economic support schemes, including:</p><p> </p><ul><li>The Coronavirus Job Retention Scheme;</li><li>The opportunity to defer VAT payments due between 20 March and 30 June 2020; and</li><li>The Bounce Back Loan Scheme for small businesses to borrow between £2,000 and £50,000, with no interest payments or fees for the first 12 months.</li></ul><p> </p><p>Wholesalers in England may also receive further support with their fixed costs from local authorities through the £1.6 billion in funding made available for discretionary Additional Restrictions Grants to support local businesses.</p><p> </p><p>Businesses may also be eligible for other elements of the Government’s support package including government-backed loans, tax deferrals, and general and sector-specific grants. The Government urges businesses to visit the online Coronavirus Business Support Finder Tool for tailored information on how to access support available to them.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 17/03/2021 16:11:15 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4079 label Biography information for Julian Sturdy

1300945

registered interest
date	09/03/2021
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 enquiry from the hon. Member for High Peak of 27 July 2020, reference RL9092.
tabling member constituency	High Peak
tabling member printed	Robert Largan
uin	165700
answer	answer is ministerial correction date of answer 17/03/2021 answer text <p>HMT responded to the Member on 15 January 2021. A further copy has been sent by email.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 17/03/2021 16:12:45 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4852 label Biography information for Robert Largan

1301026

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Covid Corporate Financing Facility
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to increase the funding available through the COVID-19 Corporate Financing Facility; what plans they have to extend the term for such loans beyond 12 months; and how they intend to make such loans more accessible to the aviation industry.
tabling member printed	Baroness Randerson
uin	HL14055
answer	answer is ministerial correction date of answer 19/03/2021 answer text <p>The Covid Corporate Financing Facility (CCFF) was set up in March 2020 to provide short-term liquidity for fundamentally strong firms. It was introduced during a period of exceptional volatility in financial markets to support corporate markets and ease the supply of credit to all firms.</p><p> </p><p>As corporate credit conditions are increasingly supportive, the CCFF will close to new issuance from 23 March. Firms that have already accessed the scheme and meet the requirements are able to extend their loans for up to twelve months, providing funding until March 2022.</p><p> </p><p>The CCFF has helped large corporates across a range of sectors, including the aviation industry. In total, the CCFF has provided over £34bn of support to some of the UK’s largest firms, directly supporting businesses responsible for almost 2.5 million jobs in the UK.</p><p> </p><p>The Government recognises the challenging circumstances facing the aviation industry as a result of Covid-19 and HM Treasury continues to support the Department for Transport’s work leading the Global Travel Taskforce to facilitate a resumption of international travel. Firms can draw upon the unprecedented package of measures announced by the Chancellor, including flexibilities with tax bills and the extended furlough scheme. The aerospace sector and its aviation customers are also being supported with almost £11 billion made available through loan guarantees, support for exporters, and grants for research and development. This includes £8bn of UK Export Finance Guarantees.</p> answering member printed Lord Agnew of Oulton question first answered 19/03/2021 13:58:37 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4230 label Biography information for Baroness Randerson

1301041

registered interest
date	09/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Employment: Long Covid
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the report by the Resolution Foundation, Long Covid in the labour market, published on 17 February; and the estimate in that report that three out of ten self–employed workers are ineligible for COVID-19 financial support.
tabling member printed	Lord Taylor of Warwick
uin	HL14070
answer	answer is ministerial correction date of answer 19/03/2021 answer text <p>The Government has taken action at Budget to improve the Self-Employment Income Support Scheme (SEISS), addressing a number of the recommendations put forward in the Resolution Foundation report. For example, the Government announced that, as the deadline for 2019-20 tax returns has now passed, HMRC will use these tax returns for the fourth and fifth grants, provided they were submitted by 2 March 2021. This means more than 600,000 people may now be able to claim the fourth and fifth grants, bringing the total number of people who could be eligible to 3.7 million.</p><p> </p><p>The Government has also acted to improve the targeting of the scheme, as recommended by the report. The fifth and final SEISS grant, providing support in the summer, will include a turnover test (similar to those in operation in other countries’ schemes) to ensure that the most generous support is targeted at those who most need it.</p><p> </p><p>The Government does recognise that some of the rules, criteria and conditions that were vital to ensuring that the SEISS works for the vast majority mean that some people may not qualify. This is why a wider package has been put in place to help provide support to those who need it.</p><p> </p><p>Those ineligible for the SEISS may still be eligible for other elements of the support available. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the Government has decided to extend the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition to this, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.</p> answering member printed Lord Agnew of Oulton question first answered 19/03/2021 13:59:04 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1300182

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Packaging: Taxation
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 merits of publishing an exhaustive list of the items to be included in the Plastic Packaging Tax that will take effect from April 2022.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	164650
answer	answer is ministerial correction date of answer 16/03/2021 answer text <p>The Government is currently in the early stages of implementing the tax via the primary legislation, which by its nature, only provides relatively high-level definitions as a foundation for the tax. As the Government moves to the next stage of implementing the tax, it will work with industry to develop regulations and guidance to provide clarity on how businesses determine the types of product that will be taxable.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 16/03/2021 16:42:04 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4786 label Biography information for Zarah Sultana