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44654

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what account his Department has taken of mortgage liability in its assessment of liability for levy on higher value homes as part of its work preparatory to the possible introduction of such a tax.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193510
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193358 193359 193360 193361 193362 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison

44657

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate has been made of the number of properties in each region liable for a possible levy on higher value homes.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193359
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193358 193360 193361 193362 193510 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison

44658

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what work has been carried out by his Department's officials on the possible introduction of a levy on higher value homes; what starting points for liability in the value of properties have been considered in the course of any such work; and if he will publish that work.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193360
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193358 193359 193361 193362 193510 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison

44659

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what methods of assessing liability for a levy on higher value homes have been considered by his Department in the course of preparatory work on the introduction of such a tax; whether individual valuation of properties has been considered in such work; and what estimate has been made of the cost of implementation of such a tax.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193361
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193358 193359 193360 193362 193510 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison

44660

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what consultations have been carried out with (a) valuers and (b) other organisations on the possible introduction of a levy on higher value homes.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193362
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193358 193359 193360 193361 193510 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison

44661

registered interest
date	24/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate has been made of the yield of a levy on higher value homes during the preparatory work carried out by his Department into the possible introduction of such a tax.
tabling member constituency	Hertsmere
tabling member printed	Mr James Clappison
uin	193358
answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>The Government does not intend to introduce a new levy on higher value homes.</p><p> </p><p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000. The Treasury does not have a precise regional breakdown of properties worth over £2 million.</p><p> </p><p>Budget 2012 introduced a number of changes to high value property tax, including the introduction of the Annual Tax on Enveloped Dwellings (ATED), a tax on residential properties valued at more than £2 million owned through certain corporate ‘envelopes'.</p><p> </p><p>Self-assessment was chosen for ATED. The cost of implementing ATED was set out in the Tax Information and Impact Note published alongside Budget 2013. <a href="http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf" target="_blank">http://www.hmrc.gov.uk/budget2013/tiin-1182.pdf</a></p><p>The cost of implementation of a new levy would be dependent on the nature of the tax.</p><p> </p><p>As part of the introduction of ATED, a public consultation document was published and a variety of organisations responded. The response to the consultation can be found here: <a href="https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions" target="_blank">https://www.gov.uk/government/consultations/ensuring-the-fair-taxation-of-residential-property-transactions</a></p><p> </p><p>When developing ATED, no account was taken of mortgage liability.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 193359 193360 193361 193362 193510 question first answered 12/05/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
tabling member	67 label Biography information for Mr James Clappison