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1713072

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Counter-terrorism and Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his planned timetable is to decide on the model for Anti-Money Laundering and Counter-Terrorism Financing supervisory reform.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23087
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The Treasury’s consultation on reforming the UK’s Anti-Money Laundering and Counter-Terrorism Financing supervisory regime closed in September 2023. The Department is continuing to analyse responses with the intention to announce a decision in due course as part of our commitment to reform the current supervision system and reduce economic crime.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 29/04/2024 14:31:59 answering member 4639 label Biography information for Bim Afolami
tabling member	140 label Biography information for Dame Margaret Hodge

1713077

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the HMRC registration is for the Trust or company service provider that provides a company registered address for 149 live UK companies at Office 1 16 Beck Road, Leeds, United Kingdom LS8 4EJ.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23088
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>HMRC’s register of Trust or Company Service Providers (TCSPs) does not show any TSCPs with that registered office address; and none of the TCSPs supervised by HMRC lists the address as business premises. HMRC supervises only those TCSPs which are not supervised by a professional body supervisor or the Financial Conduct Authority</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:26:17 answering member 4407 label Biography information for Nigel Huddleston
tabling member	140 label Biography information for Dame Margaret Hodge

1713116

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Trusts: Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when HM Revenue and Customs plans to calculate and publish a new standalone offshore tax gap.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23089
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>An estimate of the annual offshore tax gap for individuals in Self Assessment will be published alongside HMRC’s measuring tax gaps statistics ‘Measuring tax gaps 2024 edition’ scheduled for 20 June 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:30:20 answering member 4407 label Biography information for Nigel Huddleston
tabling member	140 label Biography information for Dame Margaret Hodge

1713187

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he plans to take in the 2024-25 financial year to help tackle crypto currency fraud.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	23147
answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The Government takes the issue of fraud very seriously, and published a comprehensive Fraud Strategy in May last year. Through this the Government will work: with industry to remove the vulnerabilities that fraudsters exploit; with intelligence agencies to shut down fraudulent infrastructure; with law enforcement to identify and bring the most harmful offenders to justice; and with all partners to ensure that the public have the advice and support they need</p><p><br>Further, the Financial Conduct Authority (FCA) commenced enforcement of the cryptoassets financial promotion regime in October last year, requiring such promotions to be fair, clear and not misleading. This is aimed at improving consumers’ understanding of the risks and benefits associated with cryptoasset purchases and ensuring that cryptoasset promotions are held to the same standards as similar risk financial services products. In the next phase of its work, the Government is creating a comprehensive financial services regulatory regime for cryptoassets in the UK.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/04/2024 13:07:45 answering member 4639 label Biography information for Bim Afolami
tabling member	1409 label Biography information for Mr Gregory Campbell

1712656

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Foreign Investment in UK
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of the delay of the Overseas Funds Regime on the UK's attractiveness to overseas asset managers; and what steps they are taking to mitigate any negative effects.
tabling member printed	Lord Taylor of Warwick
uin	HL4017
answer	answer is ministerial correction date of answer 02/05/2024 answer text <p>The UK’s world-leading asset management sector is the second largest by assets under management, 48% of which are managed on behalf of overseas investors.</p><p> </p><p>The Overseas Funds Regime was legislated for in the Financial Services Act 2021, to create a more streamlined process for overseas investment funds to be sold to UK investors.</p><p> </p><p>On 30<sup>th</sup> January, the Economic Secretary to the Treasury announced that the Government had found the states in the European Economic Area, including the EU member states, equivalent under the Overseas Funds Regime, in respect of certain retail funds. This followed a detailed assessment of the states’ regulatory regimes.</p><p> </p><p>HM Treasury and the Financial Conduct Authority (FCA) jointly published a roadmap to equivalence on the 1<sup>st</sup> of May setting out the key milestones to implement this decision.</p><p> </p><p>Alongside this, the FCA published detailed guidance setting out that funds in scope of the OFR – but without temporary marketing access – will be able to apply to the FCA for recognition from September 2024. The FCA intends to invite funds with temporary marketing access to apply for recognition in tranches between October 2024 and September 2026.</p> answering member printed Baroness Vere of Norbiton question first answered 02/05/2024 11:28:09 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1712779

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many value added tax registrations there were in each deprivation decile in each (a) parliamentary constituency and (b) ward in Scotland in each year since 2019.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	22993
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The requested information on Value Added Tax (VAT) registrations by deprivation decile is not available. HMRC does not publish any VAT statistics containing geographic breakdowns. This is because VAT registrations can have both single and multiple sites, and therefore such breakdowns would be of limited value.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 11:07:51 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4482 label Biography information for Owen Thompson

1712888

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Equitable Life Assurance Society: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with (a) Cabinet colleagues and (b) officials in his Department on compensation and support for affected Equitable Life policyholders.
tabling member constituency	Mid Bedfordshire
tabling member printed	Alistair Strathern
uin	23080
answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any previous decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 12:10:54 answering member 4639 label Biography information for Bim Afolami
tabling member	5000 label Biography information for Alistair Strathern

1712895

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Hybrid Vehicles: Fuels
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has plans to introduce a specific advisory fuel rate for hybrid vehicles.
tabling member constituency	Warrington South
tabling member printed	Andy Carter
uin	23054
answer	answer is ministerial correction date of answer 30/04/2024 answer text <p>Advisory Fuel Rates apply when an employer reimburses an employee for business travel in a company car, or when an employee reimburses an employer for the cost of fuel used for private travel. Rates vary by engine size and fuel type and are reviewed quarterly. There are no current plans to introduce a specific advisory rate for hybrid vehicles.</p><p> </p><p>The Advisory Fuel Rates are not mandatory. Employers and employees can instead agree to reimburse different amounts, subject to certain tax conditions.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 30/04/2024 08:28:44 answering member 4850 label Biography information for Gareth Davies
tabling member	4791 label Biography information for Andy Carter

1712907

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Nurseries: Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to support nurseries experiencing financial challenges as a result of increased business rates.
tabling member constituency	Nottingham East
tabling member printed	Nadia Whittome
uin	23085
answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The government recognises the pressure that businesses have been under since the pandemic and that is why the government froze the business rates multiplier for three consecutive years from April 2021 until April 2024 at a cost of £14.5 billion.</p><p> </p><p>To make sure that the most vulnerable businesses continue to be supported, the government announced a further freeze to the small business multiplier at Autumn Statement for 2024-25, which will protect over a million ratepayers from a multiplier increase. This means bills will be 6.6 per cent lower than without the freeze. In addition to this support, some nurseries will already be in receipt of business rates relief where they have a ‘charitable purpose’, such as those part of academy chains.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 26/04/2024 14:34:57 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4869 label Biography information for Nadia Whittome

1702387

registered interest
date	19/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he is developing economic models to forecast (a) price trends and (b) growth potential in cryptocurrencies.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22784
answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Government is not developing economic models to forecast cryptoasset trends. Rather, it uses information from a range of sources to understand broad trends in the market in order to inform policy development.</p><p>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets, and is currently working to deliver legislation giving effect to its proposals. As part of this, the government will publish analysis of the impacts of its legislation on cryptoasset businesses in scope of the forthcoming regime in the usual way.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 09:27:23 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi