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1719275

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Northern Rock plc: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a compensation scheme for Northern Rock shareholders.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	27037
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>HM Treasury considers the issue of compensation for former Northern Rock shareholders to be settled. Both the Upper Tribunal in 2011 and the Court of Appeal in 2013 upheld the independent valuation of Northern Rock shares at nil value immediately prior to public ownership, and that no compensation was therefore due. HM Treasury does not intend to revisit this issue.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 27099 27100 question first answered 23/05/2024 15:51:54 answering member 4639 label Biography information for Bim Afolami
tabling member	4122 label Biography information for Alex Cunningham

1719293

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Infrastructure Bank: Constellia Public
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Minister without Portfolio's article of 12 May 2024 in The Sunday Telegraph, when the UK Infrastructure Bank is expected to cancel its contract with Constellia Public Ltd, procurement reference CO313; and whether a notice period will be required under the provisions of that contract.
tabling member constituency	Islington South and Finsbury
tabling member printed	Emily Thornberry
uin	26991
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>The UK Infrastructure Bank is an operationally independent arms-length body. Civil Service EDI expenditure guidance does not extend to organisations outside the Civil Service or ALBs not employing Civil Servants.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 23/05/2024 16:44:59 answering member 4850 label Biography information for Gareth Davies
tabling member	1536 label Biography information for Emily Thornberry

1719346

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Northern Rock plc: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of delivering compensation to former Northern Rock PLC shareholders.
tabling member constituency	North Ayrshire and Arran
tabling member printed	Patricia Gibson
uin	27099
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>HM Treasury considers the issue of compensation for former Northern Rock shareholders to be settled. Both the Upper Tribunal in 2011 and the Court of Appeal in 2013 upheld the independent valuation of Northern Rock shares at nil value immediately prior to public ownership, and that no compensation was therefore due. HM Treasury does not intend to revisit this issue.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 27037 27100 question first answered 23/05/2024 15:51:54 answering member 4639 label Biography information for Bim Afolami
tabling member	4435 label Biography information for Patricia Gibson

1719349

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Northern Rock plc: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of providing compensation for small shareholders for the loss of their shares in Northern Rock Plc.
tabling member constituency	North Ayrshire and Arran
tabling member printed	Patricia Gibson
uin	27100
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>HM Treasury considers the issue of compensation for former Northern Rock shareholders to be settled. Both the Upper Tribunal in 2011 and the Court of Appeal in 2013 upheld the independent valuation of Northern Rock shares at nil value immediately prior to public ownership, and that no compensation was therefore due. HM Treasury does not intend to revisit this issue.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 27037 27099 question first answered 23/05/2024 15:51:54 answering member 4639 label Biography information for Bim Afolami
tabling member	4435 label Biography information for Patricia Gibson

1719356

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many businesses the Financial Conduct Authority regulated (a) as of 20 May 2024 and (b) in 2016.
tabling member constituency	West Suffolk
tabling member printed	Matt Hancock
uin	27022
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>The Financial Services and Markets Act 2000 establishes the framework for financial services regulation. It provides for the Treasury and Parliament, through legislation, to determine which activities, products and markets are regulated and fall within the remit of the Financial Conduct Authority (FCA). The FCA is responsible for regulating and supervising the financial services industry, including authorising businesses.</p><p> </p><p>The question of how many businesses the FCA regulated is a matter for the FCA, which is operationally independent from Government. The FCA will respond to the Honourable Member by letter on this matter, and a copy of the letter will be placed in the Library of the House of Commons.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/05/2024 09:12:53 answering member 4639 label Biography information for Bim Afolami
tabling member	4070 label Biography information for Matt Hancock

1719102

registered interest
date	17/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 16 May 2024 to Question 25195 on Inheritance Tax, for what reason he has not provided the requested data for the number of people waiting for (a) one to two, (b) two to three, (c) three to four, (d) four to five, (e) five to six and (e) more than six months since submitting their IHT400 form to receive the unique code from HMRC as of 8 May 2024.
tabling member constituency	Islington South and Finsbury
tabling member printed	Emily Thornberry
uin	26862
answer	answer is ministerial correction date of answer 22/05/2024 answer text <p>HMRC's service level agreement is to process 80% of Inheritance Tax forms within 15 working days. From January to April 2024, their data shows they met or exceeded this target, with most people receiving their codes within the 15-day timeframe. However, HMRC does not provide specifics on longer wait times beyond 15 working days, such as how many people waited 1-2 months or more after submitting forms. While most individuals received codes on time during this period, the exact breakdown for longer waits is not publicly available.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 22/05/2024 13:51:10 answering member 4407 label Biography information for Nigel Huddleston
tabling member	1536 label Biography information for Emily Thornberry

1718765

registered interest
date	16/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to publicise the online system for (a) checking the completeness of National Insurance records and (b) paying voluntary National Insurance contributions.
tabling member constituency	St Ives
tabling member printed	Derek Thomas
uin	26709
answer	answer is ministerial correction date of answer 21/05/2024 answer text <p>HMRC has been actively promoting the enhanced Check your State Pension forecast service on GOV.UK for customers since it launched on 29 April 2024. This included:</p><ul><li>Briefing to Money Saving Expert and This is Money, which resulted in focused content in a Martin Lewis newsletter with a reach of over 7 million subscribers.</li><li>We have produced and published a short video on X <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2FHMRCgovuk&amp;data=05%7C02%7Cjohn.gargett%40hmrc.gov.uk%7Ceeed5e128db64ec8eb7b08dc76754988%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638515493325277796%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=rdtdZ%2BAabLt%2BQfBdTYWWqil0Z4h33SoNZu5PH6NSbzg%3D&amp;reserved=0" target="_blank">(1) HM Revenue &amp; Customs (@HMRCgovuk) / X (twitter.com)</a></li><li>A Personal Tax Account tile was introduced linking to the CYSP service, and a link to the service is also provided in the HMRC App</li><li>Between 13 – 20 May Local radio interviews have/will include voluntary NICs information to promote the enhanced service.</li><li>Check your State Pension Forecast enhanced service is a joint project with the Department for Work and Pensions (DWP). DWP also posted social media to promote the enhanced service on X, there has also been posts by ministers on other social media platforms.</li></ul><p> </p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 21/05/2024 15:17:19 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4532 label Biography information for Derek Thomas

1718797

registered interest
date	16/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many incidents of tax fraud involving (a) the VAT484 form and (b) other paper forms HMRC has recorded in each of last five financial years; and what the (i) total and (ii) average value of those incidents is.
tabling member constituency	Ealing North
tabling member printed	James Murray
uin	26780
answer	answer is ministerial correction date of answer 21/05/2024 answer text <p>HMRC regularly encounters attempts to fraudulently attack its systems and does not routinely keep records of the value of individual instances unless a pattern emerges.</p><p> </p><p>Towards the end of February, HMRC identified a small number of cases which constituted more than isolated incidents. In these cases, paper VAT 484 forms had been wrongly used in an attempt to fraudulently gain access to VAT repayments. Immediate steps have been taken to prevent this from happening, and the situation is being monitored to see if further action is necessary.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 26781 question first answered 21/05/2024 13:39:24 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4797 label Biography information for James Murray

1718800

registered interest
date	16/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, on what date (a) he and (b) HMRC first became aware of fraud involving the VAT484 form; and what steps he is taking to tackle such fraud.
tabling member constituency	Ealing North
tabling member printed	James Murray
uin	26781
answer	answer is ministerial correction date of answer 21/05/2024 answer text <p>HMRC regularly encounters attempts to fraudulently attack its systems and does not routinely keep records of the value of individual instances unless a pattern emerges.</p><p> </p><p>Towards the end of February, HMRC identified a small number of cases which constituted more than isolated incidents. In these cases, paper VAT 484 forms had been wrongly used in an attempt to fraudulently gain access to VAT repayments. Immediate steps have been taken to prevent this from happening, and the situation is being monitored to see if further action is necessary.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 26780 question first answered 21/05/2024 13:39:24 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4797 label Biography information for James Murray

1718238

registered interest
date	15/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Office for Budget Responsibility: Forecasts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will establish an independent body to verify the accuracy of forecasts made by the Office for Budget Responsibility.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	26369
answer	answer is ministerial correction date of answer 20/05/2024 answer text <p>The OBR is required by legislation to publish an evaluation of its forecasts against outturn data each year, and in 2023 also published a working paper assessing its historic forecast performance since it was established. The paper showed that its GDP growth and borrowing forecasts were comparable to external forecasters, and more accurate than previous Treasury forecasts.</p><p> </p><p>The OBR is reviewed externally every five years.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 20/05/2024 12:42:58 answering member 4639 label Biography information for Bim Afolami
tabling member	1409 label Biography information for Mr Gregory Campbell