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517358

registered interest
date	04/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Companies: Ownership
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, which competent authorities in the UK will be able to access data on the beneficial ownership of companies incorporated in (a) other EU countries and (b) British Overseas Territories.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	36409
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>All UK competent authorities can request company beneficial ownership information from foreign jurisdictions through Mutual Legal Assistance and other information sharing arrangements such as the Egmont Group of Financial Intelligence Units. Furthermore, more than 30 countries have now joined the initiative to automatically share beneficial ownership information among participants (the statement can be found here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/520459/statement_on_the_initiative_for_exchange_of_beneficial_ownership_information.pdf). The Prime Minister also recently announced that UK law enforcement and tax agencies will have full access to information on the beneficial ownership of companies incorporated in all UK Overseas Territories and Crown Dependencies (except Guernsey).</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 11/05/2016 10:32:55 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4518 label Biography information for Tulip Siddiq

517371

registered interest
date	04/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Money Laundering: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer to Question 23205 of 22 January 2016, when the consultation on transposition of the EU's Fourth Anti-Money Laundering Directive will begin.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	36602
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>The consultation on the transposition of the EU’s 4<sup>th</sup> Anti-Money Laundering Directive will take place later this year and, once issued, will run for 12 weeks.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 11/05/2016 10:35:32 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4518 label Biography information for Tulip Siddiq

517536

registered interest
date	04/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Banks: Standards
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps the Financial Conduct Authority takes to ensure the chairs and boards of directors of banks adhere to commitments made within their published customer charters.
tabling member constituency	Caithness, Sutherland and Easter Ross
tabling member printed	Dr Paul Monaghan
uin	36457
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>This is an operational matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.</p><p> </p><p>The question has been passed on to the FCA. The FCA will reply directly to the hon Member by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 11/05/2016 10:28:00 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4383 label Biography information for Dr Paul Monaghan

516986

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	London Stock Exchange: Deutsche Borse
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answers by Lord O’Neill of Gatley on 26 April (HL7583 and HL7584), what assessment they have made of whether the same collateral could be used to support risk at both LCH and Eurex.
tabling member printed	Lord Myners
uin	HL8141
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>I refer the noble Lord to my previous answers of 26 April (HL7583 and HL7780) which noted that, once notified of the merger, the Bank of England and Financial Conduct Authority would assess the proposal from a regulatory standpoint, and that it would also be subject to assessments and approvals by the competition authorities, overseas regulators, and shareholders.</p><p> </p><p>My previous answers further noted that any inter central counterparty links would need to be assessed against the relevant parts of European Market Infrastructure Regulation (EMIR) by the Bank of England, as supervisor of LCH.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL8142 question first answered 11/05/2016 11:32:57 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

516987

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	London Stock Exchange
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether it is their policy that the ultimate holding company for the London Stock Exchange remains incorporated in the UK.
tabling member printed	Lord Myners
uin	HL8142
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>I refer the noble Lord to my previous answers of 26 April (HL7583 and HL7780) which noted that, once notified of the merger, the Bank of England and Financial Conduct Authority would assess the proposal from a regulatory standpoint, and that it would also be subject to assessments and approvals by the competition authorities, overseas regulators, and shareholders.</p><p> </p><p>My previous answers further noted that any inter central counterparty links would need to be assessed against the relevant parts of European Market Infrastructure Regulation (EMIR) by the Bank of England, as supervisor of LCH.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL8141 question first answered 11/05/2016 11:32:57 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

517100

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Developing Countries: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 18 June 2016 to Question 2381, how much funding has been allocated to HM Revenue and Customs' dedicated team of experts to tackle tax avoidance and evasion in developing countries in each year since the establishment of that team; how many full-time equivalent staff have been employed in that team in each of those years; and what estimate he has made of the amount of taxation which that team has recovered.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	36257
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>Following on from the Chancellor's announcement in the 2014 Autumn Statement that £1.8m spread over three years was to be made available, HMRC established a new tax experts capacity building unit in April 2015 to provide dedicated technical support to developing countries on G20/OECD international tax priority areas, including Transfer Pricing, Exchange of Information and Base Erosion and Profit Sharing.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/05/2016 09:57:22 answering member 1529 label Biography information for Mr David Gauke
tabling member	4518 label Biography information for Tulip Siddiq

517103

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Taxation: British Overseas Territories
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 18 April 2016 to Question 32849, how much has been recovered from companies incorporated in each of the British Overseas Territories in each year since 2009-10.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	36258
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>HM Revenue and Customs does not hold the requested information. The information requested is not available in this format.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/05/2016 09:55:32 answering member 1529 label Biography information for Mr David Gauke
tabling member	4518 label Biography information for Tulip Siddiq

517108

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Soft Drinks: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether his Department has analysed the potential economic effect of the soft drinks levy on the British soft drinks manufacturing industry.
tabling member constituency	Colchester
tabling member printed	Will Quince
uin	36250
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>The government will shortly be consulting on the detail of the soft drinks industry levy, and we will publish an initial impact assessment alongside the consultation. This assessment will be updated and refined when the policy detail is finalised.</p><p> </p><p>For Finance Bill measures, HMRC provide a Tax Impact Information Note alongside the draft Finance Bill legislation, which we expect to publish in the winter.</p> answering member constituency East Hampshire answering member printed Damian Hinds question first answered 11/05/2016 10:09:30 answering member 3969 label Biography information for Damian Hinds
tabling member	4423 label Biography information for Will Quince

517116

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the increase in the value of additional savings that will be made by people as a result of the establishment of the lifetime ISA announced in Budget 2016.
tabling member constituency	Leeds West
tabling member printed	Rachel Reeves
uin	36239
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>The Government is creating a new Lifetime ISA, providing savers with the flexibility to save towards a first home and retirement at the same time. From April 2017, people aged 18 to 40 will be able to open and save up to £4,000 each year into a Lifetime ISA and receive a 25% bonus from the Government, paid annually after the end of the tax year. The annual ISA savings limit for all adults will increase to £20,000 from April 2017. People can make full withdrawals from their Lifetime ISA accounts for a first home purchase (subject to a house price cap of £450,000 UK-wide) or from age 60. These withdrawals will be tax free. i) An estimate of the Exchequer impact from this policy was set out in Table 2.1 of the Budget 2016 document, available here: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508113/B2016Table_2.1.xlsx" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508113/B2016Table_2.1.xlsx</a></p><p> </p><p>The table below shows how this estimated Exchequer impact breaks down into that which is from Lifetime ISA and the increase in the ISA limit to £20,000.</p><table><tbody><tr><td><p>£ millions</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td></tr><tr><td><p>Lifetime ISA and raise ISA limit to £20,000</p></td><td><p>Neg</p></td><td><p>-170</p></td><td><p>-330</p></td><td><p>-590</p></td><td><p>-850</p></td></tr><tr><td><p><em>Of which is Lifetime ISA</em></p></td><td><p><em>neg</em></p></td><td><p><em>-170</em></p></td><td><p><em>-330</em></p></td><td><p><em>-580</em></p></td><td><p><em>-830</em></p></td></tr><tr><td><p><em>Of which is ISA limit increase</em></p></td><td><p><em>0</em></p></td><td><p><em>0</em></p></td><td><p><em>neg</em></p></td><td><p><em>-10</em></p></td><td><p><em>-20</em></p></td></tr></tbody></table><p>ii) and iii) Estimates are not available.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 36240 36241 question first answered 11/05/2016 10:16:01 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4031 label Biography information for Rachel Reeves

517117

registered interest
date	03/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to page 9 of Budget 2016: policy costings, published in March 2016, what estimate he has made of the cost to the public purse of (a) the lifetime ISA and (b) the increase in the ISA annual limit.
tabling member constituency	Leeds West
tabling member printed	Rachel Reeves
uin	36240
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>The Government is creating a new Lifetime ISA, providing savers with the flexibility to save towards a first home and retirement at the same time. From April 2017, people aged 18 to 40 will be able to open and save up to £4,000 each year into a Lifetime ISA and receive a 25% bonus from the Government, paid annually after the end of the tax year. The annual ISA savings limit for all adults will increase to £20,000 from April 2017. People can make full withdrawals from their Lifetime ISA accounts for a first home purchase (subject to a house price cap of £450,000 UK-wide) or from age 60. These withdrawals will be tax free. i) An estimate of the Exchequer impact from this policy was set out in Table 2.1 of the Budget 2016 document, available here: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508113/B2016Table_2.1.xlsx" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508113/B2016Table_2.1.xlsx</a></p><p> </p><p>The table below shows how this estimated Exchequer impact breaks down into that which is from Lifetime ISA and the increase in the ISA limit to £20,000.</p><table><tbody><tr><td><p>£ millions</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td></tr><tr><td><p>Lifetime ISA and raise ISA limit to £20,000</p></td><td><p>Neg</p></td><td><p>-170</p></td><td><p>-330</p></td><td><p>-590</p></td><td><p>-850</p></td></tr><tr><td><p><em>Of which is Lifetime ISA</em></p></td><td><p><em>neg</em></p></td><td><p><em>-170</em></p></td><td><p><em>-330</em></p></td><td><p><em>-580</em></p></td><td><p><em>-830</em></p></td></tr><tr><td><p><em>Of which is ISA limit increase</em></p></td><td><p><em>0</em></p></td><td><p><em>0</em></p></td><td><p><em>neg</em></p></td><td><p><em>-10</em></p></td><td><p><em>-20</em></p></td></tr></tbody></table><p>ii) and iii) Estimates are not available.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 36239 36241 question first answered 11/05/2016 10:16:00 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4031 label Biography information for Rachel Reeves