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830050

registered interest
date	24/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Corporation Tax
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 total sum of revenue that it has generated from the gradual reductions in the rate of corporation tax since 2010.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	124758
answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>Since 2010 the Government has reduced the rate of Corporation Tax from 28 per cent to 19 per cent today, and has announced a further reduction to 17 per cent from 1 April 2020.</p><p> </p><p>The Exchequer costs of each rate reduction are certified by the Office for Budget Responsibility. They are published in Table 2.1 of the Budget or Autumn Statement document at announcement, and Table 2.2 of subsequent Budget documents until implementation.</p><p> </p><p>Despite lowering the rate, onshore Corporation Tax revenues have increased by around 50 per cent, from £36.2 billion in 2010-11 to £54.1 billion in 2016-17, and are above their pre-crisis peak.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:55:03 answering member 3935 label Biography information for Mel Stride
tabling member	4639 label Biography information for Bim Afolami

830052

registered interest
date	24/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Stamp Duty Land Tax
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 total sum of revenue that it has generated from increases in stamp duty since 2010.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	124759
answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The government has introduced a number of reforms to Stamp Duty Land Tax since 2010, including major reforms to the rates and overall structure of the tax, and the introduction and withdrawal of reliefs. Along with such reforms, a wide range of factors affect revenues from SDLT, including wider economic factors which impact the residential and commercial property markets.</p><p> </p><p>Where changes have been introduced, the estimates of the direct exchequer costs of these measures are available in the OBR’s policy measures database and the HM Treasury Red Book.</p><p> </p><p><a href="http://budgetresponsibility.org.uk/download/policy-measures-database/" target="_blank">http://budgetresponsibility.org.uk/download/policy-measures-database/</a></p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:53:14 answering member 3935 label Biography information for Mel Stride
tabling member	4639 label Biography information for Bim Afolami

830053

registered interest
date	24/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Taxation: Disclosure of Information
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent steps his Department has taken to work with other countries and multilateral institutions on ensuring global tax transparency.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	124760
answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The UK has taken unprecedented action on tax transparency. Thanks to UK leadership, over 100 jurisdictions have now committed to automatically exchange tax information through the Common Reporting Standard. To encourage jurisdictions to commit to tax transparency standards, the UK has supported lists of non-co-operative jurisdictions at both the G20 and EU. The UK supports work in the Global Forum on Transparency and Exchange of Information for Tax Purposes and World Bank to help implement these standards, as well as directly supporting pilot projects to implement the common reporting standard in Ghana, Pakistan, and Nigeria.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:52:08 answering member 3935 label Biography information for Mel Stride
tabling member	4639 label Biography information for Bim Afolami

830055

registered interest
date	24/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department has taken to work with other countries and multilateral institutions on taxing global multinational digital businesses.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	124761
answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The Government is committed to making sure multinational enterprises pay their fair share of tax in the UK.</p><p> </p><p>At Autumn Budget 2017, the Government published a position paper on corporate tax and the digital economy. The paper sets out that the Government thinks international corporate tax principles need updating for the digital age to ensure that they reflect the new ways businesses create value.</p><p> </p><p>The Government is also considering this issue at an international level. The UK actively supports and is working with the OECD’s Task Force on the Digital Economy, which is due to produce an interim report in Spring 2018.</p><p> </p><p>The Government is engaging constructively with EU discussions on this issue and agreed Council conclusions with other Member States at the December ECOFIN meeting.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:50:41 answering member 3935 label Biography information for Mel Stride
tabling member	4639 label Biography information for Bim Afolami

797582

registered interest
date	29/11/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Non-domestic Rates
house id	1
legislature	25259 pref label House of Commons
question text	Whether his Department plans to review the business rates system.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	116545
answer	answer is ministerial correction date of answer 05/12/2017 answer text <p>The government undertook the last fundamental review of business rates in 2016 and announced major reforms worth approx. £9bn to businesses by the end of the parliament. At Autumn Budget 2017, the government delivered more support on business rates including businesses’ top priorities to bring forward the switch to CPI indexation, revalue properties more frequently and to address the staircase tax. As a next step, the government is also reviewing the wider taxation of the digital economy. This includes ensuring international corporate tax rules deliver fair results across different businesses and that sellers operating through online marketplaces pay the right amount of VAT.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 05/12/2017 16:00:03 answering member 3935 label Biography information for Mel Stride
tabling member	4639 label Biography information for Bim Afolami

784782

registered interest
date	06/11/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Income Tax: Tax Rates and Bands
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what effect reducing the top rate of tax from 50 per cent to 45 per cent has had on total tax receipts since 2012.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	111774
answer	answer is ministerial correction date of answer 15/11/2017 answer text <p>HMRC does not routinely evaluate the effects of specific policies on tax receipts. The estimated cost of reducing the additional rate of income tax to 45 per cent is available on the government website, Budget 2013, page 66, table 2.2:</p><p> </p><p><a href="https://www.gov.uk/government/publications/budget-2013-documents" target="_blank">https://www.gov.uk/government/publications/budget-2013-documents</a></p><p> </p><p>HMRC published a detailed evaluation of the impact of the 50 per cent tax rate on the Exchequer in 2012 ‘The Exchequer effect of the 50 per cent additional rate of income tax’. This report contains more information on the methodology for estimating the impact of the policy, specifically in annex A:</p><p> </p><p><a href="http://webarchive.nationalarchives.gov.uk/20130127161217/http:/www.hmrc.gov.uk/budget2012/excheq-income-tax-2042.pdf" target="_blank">http://webarchive.nationalarchives.gov.uk/20130127161217/http://www.hmrc.gov.uk/budget2012/excheq-income-tax-2042.pdf</a></p> answering member constituency Harrogate and Knaresborough answering member printed Andrew Jones question first answered 15/11/2017 15:18:53 answering member 3996 label Biography information for Andrew Jones
tabling member	4639 label Biography information for Bim Afolami

785095

registered interest
date	06/11/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fuels: Excise Duties
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 total sum of revenue that it has forgone due to the successive freezes to fuel duty since 2011.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	111790
answer	answer is ministerial correction date of answer 14/11/2017 answer text <p>Based on the Office for Budget Responsibility’s (OBR) published policy costings, we estimate the cumulative loss to the Exchequer from the successive fuel duty freezes from financial year 2011-12 to the current financial year 2017-18 to be around £37.2bn.</p><p> </p><p>The annual impacts on the Exchequer are reported in the table below.</p><table><tbody><tr><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p>2011-12</p></td><td><p>2012-13</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td></tr><tr><td colspan="3"><p>Exchequer impact (£m)</p></td><td><p>-2,275</p></td><td><p>-3,465</p></td><td><p>-4,645</p></td><td><p>-5,800</p></td><td><p>-6,375</p></td><td><p>-6,805</p></td><td><p>-7,825</p></td></tr></tbody></table><p> </p><p>Past decisions on freezes will also incur future losses to the Exchequer in years beyond 2017-18. The OBR’s costings of previously announced policies currently extend to 2021-22, and the future impact of these announced freezes in fuel duty to that year is estimated to be around £34.2bn.</p><p>The future annual impacts are set out in the table below.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td></tr><tr><td colspan="3"><p>Exchequer impact (£m)</p></td><td><p>-8,095</p></td><td><p>-8,370</p></td><td><p>-8,685</p></td><td><p>-9,030</p></td></tr></tbody></table><p> </p><p>The OBR’s policy costings are available at the following link:</p><p> </p><p><a href="http://budgetresponsibility.org.uk/download/policy-measures-database/" target="_blank">http://budgetresponsibility.org.uk/download/policy-measures-database/</a></p><p> </p><p> </p><p> </p> answering member constituency Harrogate and Knaresborough answering member printed Andrew Jones question first answered 14/11/2017 15:25:45 answering member 3996 label Biography information for Andrew Jones
tabling member	4639 label Biography information for Bim Afolami