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1256460

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stocks and Shares
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to review the governance processes of equity index construction, including in relation to (1) economic growth, (2) financial stability, and (3) management accountability.
tabling member printed	Lord Myners
uin	HL10897
answer	answer is ministerial correction date of answer 14/12/2020 answer text <p>The use and operation of equity indices by UK supervised entities is governed by the Benchmarks Regulation, introduced in 2016. The Government has proposed amendments to the Benchmarks Regulation in the current Financial Services Bill to support the orderly wind-down of critical benchmarks. However, there are no current plans for a broader review of the legislation.</p> answering member printed Lord Agnew of Oulton question first answered 14/12/2020 17:16:15 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	3869 label Biography information for Lord Myners

1256461

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they completed an economic impact assessment for the reintroduction of the Crown preference for insolvency.
tabling member printed	Lord Myners
uin	HL10898
answer	answer is ministerial correction date of answer 14/12/2020 answer text <p>The Government’s reforms to make HMRC a secondary preferential creditor for certain tax debts (otherwise known as Protecting Your Taxes in Insolvency) came into effect across the UK on 1 December 2020.</p><p> </p><p>The Government has taken a proportionate approach, applying changes only to taxes paid in good faith by employees and customers, but held temporarily by the business, including Pay as You Earn (PAYE) Income Tax and VAT. The reforms do not reintroduce crown preference, which applied more broadly across all tax debts.</p><p> </p><p>The Government undertook careful work to assess the impact of the reforms ahead of announcement and implementation. As with all tax policy changes, the Government published this assessment in a tax information and impact note which can be found on gov.uk.[1]</p><p> </p><p>[1] Full web-link: <a href="https://www.gov.uk/government/publications/changes-to-protect-tax-in-insolvency-cases" target="_blank">https://www.gov.uk/government/publications/changes-to-protect-tax-in-insolvency-cases</a>.</p> answering member printed Lord Agnew of Oulton question first answered 14/12/2020 17:14:31 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	3869 label Biography information for Lord Myners

1256468

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Holyhead Port: Large Goods Vehicles
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the Written Answer by Lord Agnew of Oulton on 13 October (HL8609), how much of this land has been purchased; and what use is being made of this land.
tabling member printed	Lord Roberts of Llandudno
uin	HL10909
answer	answer is ministerial correction date of answer 14/12/2020 answer text <p>No land has yet been purchased. Two potential sites have been identified in partnership with the Welsh Government and commercial discussions are under way.</p> answering member printed Lord Agnew of Oulton question first answered 14/12/2020 17:16:23 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	3691 label Biography information for Lord Roberts of Llandudno

1256470

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Departments: Accountancy
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many written directions Ministers have been asked to give (1) to Permanent Secretaries, and (2) to other officials, in each of the last 10 years; and in each case, (a) which Ministers and officials were involved, and (b) to what the written directions referred.
tabling member printed	Lord Sharkey
uin	HL10911
answer	answer is ministerial correction date of answer 16/12/2020 answer text <p>There have been 41 Ministerial Direction published since April 2011. There was no general requirement to publish Ministerial Directions prior to this date.</p><p> </p><p>Thirty -eight of these direction were requested by Permanent Secretaries or Acting Permanent Secretaries. One of those (from the Permanent Secretary at the Department of Health and Social Care) was jointly requested by the Chief Executive of the NHS. Of the remainder, two were requested by the Chief Executive of UK Export Finance and one by the Chief Executive of the NHS.</p><p> </p><p>Details of all published Ministerial Directions can be found on the gov.uk website.[1].</p><p> </p><p>[1] <a href="https://www.gov.uk/government/collections/ministerial-directions" target="_blank">https://www.gov.uk/government/collections/ministerial-directions</a></p> answering member printed Lord Agnew of Oulton question first answered 16/12/2020 12:19:49 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4196 label Biography information for Lord Sharkey

1256533

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Trade: Finance
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 impact of the regulatory framework on the trade finance gap; and what discussions they are (1) having, and (2) have had, with the Prudential Regulation Authority about reducing the trade finance gap.
tabling member printed	Viscount Waverley
uin	HL10928
answer	answer is ministerial correction date of answer 14/12/2020 answer text The UK’s prudential regulatory framework is underpinned by internationally agreed Basel standards in which the UK plays a key role through its membership of the Basel Committee on Banking Standards (BCBS).<p> </p><p>Through the Financial Services Bill, the Government is delegating responsibility for the implementation of the latest Basel standards to the Prudential Regulation Authority (PRA).</p><p> </p><p>As part of that, the PRA will be required to consider and report on the likely effect of its rules on the sustainable provision of finance to businesses and consumers in the UK.</p><p> </p><p>The Government maintains a regular dialogue with the PRA to ensure our future prudential regulation is appropriate and proportionate for the UK.</p> answering member printed Lord Agnew of Oulton question first answered 14/12/2020 17:15:55 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	1744 label Biography information for Viscount Waverley

1256568

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Capital Gains Tax: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to review the recent reduction of Private Residence Relief to take into account (a) regional variations in the length of time it can take to sell a residence and (b) the complexity of divorce and separation in respect of selling a residence.
tabling member constituency	North Ayrshire and Arran
tabling member printed	Patricia Gibson
uin	122769
answer	answer is ministerial correction date of answer 03/12/2020 answer text <p>Within the Capital Gains Tax (CGT) system, private residence relief (PRR) exempts from CGT the gain a person may make when they sell a residential property that they have lived in as their main home.</p><p> </p><p>In April, changes were made to reduce the final period exemption, in which a previous main residence always qualifies for CGT PRR, from 18 months to 9 months. The final period exemption is an ancillary relief intended to allow individuals who own another residence time to sell their property after they are no longer using their old main residence. This change was to target the relief better at owner occupiers and reduce the instances where people can accrue relief on two properties simultaneously.</p><p> </p><p>The Government has no plans to change the length of the CGT Private Residence Relief (PRR) final period exemption.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 03/12/2020 14:49:41 answering member 3991 label Biography information for Jesse Norman
tabling member	4435 label Biography information for Patricia Gibson

1256603

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Capital Gains Tax: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what plans he has to review the recent reduction of Private Residence Relief to take into account the effect of the covid-19 outbreak on (a) home viewings and sales and (b) the time taken for the conveyancing process.
tabling member constituency	North Ayrshire and Arran
tabling member printed	Patricia Gibson
uin	122770
answer	answer is ministerial correction date of answer 03/12/2020 answer text <p>Within the Capital Gains Tax (CGT) system, private residence relief (PRR) exempts from CGT the gain a person may make when they sell a residential property that they have lived in as their main home.</p><p> </p><p>In April, changes were made to reduce the final period exemption, in which a previous main residence always qualifies for CGT PRR, from 18 months to 9 months. This change was to better target the relief at owner occupiers and reduce the instances where people can accrue relief on two properties simultaneously.</p><p> </p><p>The Government has no plans to change the length of the CGT Private Residence Relief (PRR) final period exemption.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 03/12/2020 14:47:53 answering member 3991 label Biography information for Jesse Norman
tabling member	4435 label Biography information for Patricia Gibson

1256614

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Care Services: VAT
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 extending the VAT reduction offered to hospitality services until March 2021 to (a) hairdressers, (b) beauty services and (c) other close contact services.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	122764
answer	answer is ministerial correction date of answer 08/12/2020 answer text <p>The temporary reduced rate of VAT was introduced on 15 July in order to support the cash flow and viability of over 150,000 businesses and protect 2.4 million jobs in the hospitality and tourism sectors, and will run until 31 March 2021. This relief comes at a significant cost to the Exchequer, and there are currently no plans to extend the scope to include other sectors.</p><p> </p><p>The Government has announced a significant package of support to help businesses through the winter months, which includes an extension of the Coronavirus Job Retention Scheme, an extension of the Self-Employment Income Support Scheme grant, and an extension of the application window for the Government-backed loan schemes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/12/2020 12:12:38 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1256615

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Sports: VAT
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 allowing non-profit sports organisations (a) that are and (b) that are not VAT registered to claim back VAT during the covid-19 outbreak.
tabling member constituency	Solihull
tabling member printed	Julian Knight
uin	122743
answer	answer is ministerial correction date of answer 08/12/2020 answer text <p>Under the current VAT rules, bodies, including non-profit organisations, that have a turnover in excess of £85,000 must register for VAT. However, bodies that are below the VAT registration threshold may register for VAT voluntarily.</p><p> </p><p>Bodies that are VAT registered are required to charge VAT on their taxable business activity and are also able to recover any VAT on costs that they incur in the course of that taxable business activity.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/12/2020 11:59:18 answering member 3991 label Biography information for Jesse Norman
tabling member	4410 label Biography information for Julian Knight

1256621

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking on the mis-selling of schemes now subject to the Loan Charge.
tabling member constituency	Chipping Barnet
tabling member printed	Theresa Villiers
uin	122616
answer	answer is ministerial correction date of answer 08/12/2020 answer text <p>While the Government sympathises with anyone who believes they were misled into using a disguised remuneration (DR) scheme, it is an individual’s responsibility to ensure the accuracy of their tax return and to understand the consequences of their decisions.</p><p> </p><p>The Government and HMRC are determined to continue to tackle promoters of tax avoidance schemes. This includes challenging those who promote disguised remuneration loan schemes.</p><p> </p><p>In March 2020, HMRC published their strategy for tackling promoters of tax avoidance schemes. The strategy sets out HMRC’s work to date and outlines how HMRC will continue to take robust actions against promoters of tax avoidance.</p><p> </p><p>Last month HMRC launched the ‘Tax avoidance: don’t get caught out’ communications campaign. The campaign is targeted at contractors and encourages them to stop and take time to check what they are signing up for, challenge what they have been told by those selling the scheme, and protect themselves and public services by reporting schemes to HMRC.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/12/2020 12:10:49 answering member 3991 label Biography information for Jesse Norman
tabling member	1500 label Biography information for Theresa Villiers