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1694629

registered interest
date	07/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Environment Protection
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 help increase the UK’s global competitiveness in green finance.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	17587
answer	answer is ministerial correction date of answer 12/03/2024 answer text <p>The Government has taken world-leading action to green the financial system, and we remain fully committed to that work. The action we have taken is part of the reason that London has been consistently ranked as the world’s top financial centre in the Global Green Finance Index.</p><p>We were the first major country to publish a Green Finance Strategy in 2019 and in March 2023 we published an updated Green Finance Strategy. It set out our ambitious work on green finance, providing further clarity on key policy areas such as our ambition to become a Net Zero Aligned Financial Centre, and next steps under our Sustainability Disclosure Requirements framework, including transition plan disclosures, and next steps on the UK Green Taxonomy. In addition, as part of the 2024 Spring Budget, the Government has announced that it will proceed with developing a regulatory regime for ESG ratings providers, aiming to improve transparency and promote good conduct.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 12/03/2024 12:54:20 answering member 4639 label Biography information for Bim Afolami
tabling member	4124 label Biography information for Chi Onwurah

1684177

registered interest
date	22/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts: Help to Buy Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to introduce a new help-to-buy ISA.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10806
answer	answer is ministerial correction date of answer 25/01/2024 answer text <p>The Help to Buy: ISA (launched in 2015) allows prospective first-time buyers to obtain a government bonus of up to £3,000 towards their first home. This scheme closed to new accounts on 30 November 2019, but existing Help to Buy: ISA holders can continue saving into their account until 30 November 2029 and can claim the government bonus until November 2030.</p><p> </p><p>Since April 2017, adults under 40 have been able to open a Lifetime ISA (LISA) and save up to £4,000 each year until they reach 50. The Government provides a 25 per cent bonus on all LISA contributions within these limits. Savings invested in a LISA can be withdrawn from the age of 60 but funds can be withdrawn at an earlier stage if used as a deposit for the account holder’s first home on a property worth up to £450,000. Help to Buy: ISA account holders will be able to transfer their funds to a LISA within the LISA’s £4,000 annual limit.</p><p> </p><p>The Chancellor keeps all tax policy under review.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/01/2024 13:55:27 answering member 4639 label Biography information for Bim Afolami
tabling member	4124 label Biography information for Chi Onwurah

1684179

registered interest
date	22/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
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 adequacy of the advisory market to support businesses claiming R&D tax relief.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10808
answer	answer is ministerial correction date of answer 29/01/2024 answer text <p>HMRC recognises that agents play a vital role in the Research and Development (R&amp;D) tax reliefs regime and around 90% of R&amp;D claims involve an agent.</p><p>Agents offer valuable support for their clients to access the relief they are entitled to.</p><p><em> </em></p><p>The Government expects all tax agents, including R&amp;D advisers, to adhere to the HMRC Standard for Agents, which sets out HMRC’s expectations for all individuals and businesses involved in professionally representing or advising taxpayers. In addition, the government is continuing to explore options to raise standards in the tax advice market.</p><p> </p><p>HMRC’s dedicated R&amp;D Anti-Abuse Unit, focuses on the most complex and high-risk cases including tackling agents actively promoting the R&amp;D schemes to businesses unlikely to be eligible. This includes working with the Advertising Standards Agency to remove false advertising by agents.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/01/2024 15:54:48 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1684180

registered interest
date	22/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what progress he has made in reducing R&D tax credit fraud.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10809
answer	answer is ministerial correction date of answer 29/01/2024 answer text <p>In July 2023 HMRC published their compliance approach to R&amp;D reliefs (<a href="https://www.gov.uk/government/publications/compliance-approach-to-research-and-development-tax-reliefs/hmrcs-approach-to-research-and-development-tax-reliefs" target="_blank">HMRC's approach to Research and Development tax reliefs</a>) setting out the scale of non-compliance in the R&amp;D schemes, action taken by the government to date and how HMRC are tackling R&amp;D non-compliance.</p><p> </p><p>HMRC will set out steps it is taking to tackle error and fraud in its Compliance Action Plan, to be published in due course.</p><p> </p><p>HMRC will also provide updates on the level of error and fraud for R&amp;D tax credits in their Annual Report and Accounts 2023-2024 to be published in July 2024.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/01/2024 17:14:34 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683028

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
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 ensure that HM Revenue and Customs' definition of a competent professional is applied consistently when assessing research and development tax relief claims.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10118
answer	answer is ministerial correction date of answer 22/01/2024 answer text <p>A competent professional is someone suitably qualified or experienced in the field. Having worked in a field or having an intelligent interest alone, does not make a person a competent professional. They must have enough knowledge and experience relevant to the qualifying project.</p><p> </p><p>The opinion of a competent professional should set out:</p><ul><li>the depth of the competent professional’s knowledge and experience in the relevant field</li></ul><ul><li>the current state of relevant knowledge in the field</li><li>what the advance in science or technology being sought is</li></ul><ul><li>why what is being sought is an advance in the field</li><li>how the advance relates to knowledge, capability, or a mixture of the two.</li></ul><p>HMRC will give due weight to an opinion offered by the company’s competent professional but further enquiry may still be needed, especially where the opinion omits the required information, as set out above.</p><p>HMRC are committed to adhering to the values set out in the HMRC Charter and have a quality assurance programme to ensure consistency when applying guidance.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 22/01/2024 17:16:24 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683029

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
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 ensure consistency in the processing of claims for (a) Research and Development Expenditure Credit and (b) research and development tax relief for small and medium-sized enterprise; and what training is received by HMRC staff working on such claims.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10119
answer	answer is ministerial correction date of answer 23/01/2024 answer text <p>All R&amp;D claims go through a risk screening process before the payment process. Where risks are identified, HMRC opens enquires into those claims following the HMRC Enquiry manual, a detailed guidance framework on conducting compliance checks.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 23/01/2024 12:11:19 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683030

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to HMRC's policy paper entitled Merger of current small or medium enterprise (SME) and Research and Development Expenditure Credit (RDEC) schemes, updated on 23 November 2023, whether his Department has assessed the potential impact of the proposed merger on individual sectors.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10120
answer	answer is ministerial correction date of answer 23/01/2024 answer text <p>R&amp;D tax relief will continue to be available to all sectors following the merger of the small or medium enterprise (SME) and Research and Development Expenditure Credit (RDEC) schemes.</p><p>The government will monitor the impact on claimants of R&amp;D relief policy changes, including on sectors, through information collected from claims and claim notifications.</p><p>HMRC publish annual statistics on the sectoral distribution of R&amp;D tax credit claims <a href="https://www.gov.uk/government/statistics/corporate-tax-research-and-development-tax-credit" target="_blank">https://www.gov.uk/government/statistics/corporate-tax-research-and-development-tax-credit</a></p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 23/01/2024 12:13:09 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683031

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what proportion of (a) Research and Development Expenditure Credit and (b) Research and Development tax relief for small and medium-sized enterprises claims were disallowed in each of the last five years for which figures are available; and what the most common reason was for a claim being disallowed in each of those years.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10121
answer	answer is ministerial correction date of answer 22/01/2024 answer text <p>HMRC do not publish the proportion of R&amp;D claims disallowed and the reasons for disallowing them.</p><p> </p><p>HMRC publish the estimated amount of R&amp;D tax relief claimed and the estimated number of claims. The latest figures for 2021-2022 are published here: <a href="https://www.gov.uk/government/statistics/corporate-tax-research-and-development-tax-credit/research-and-development-tax-credits-statistics-september-2023#:~:text=The%20total%20number%20of%20R%26D,Credit%20(%20RDEC%20)%20scheme%20claims" target="_blank">Research and Development Tax Credit Statistics September 2023</a>.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 22/01/2024 17:11:52 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683032

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many claimants have been sanctioned for falsely claiming for (a) R&D expenditure credit and (b) small and medium-sized enterprise R&D tax relief.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10122
answer	answer is ministerial correction date of answer 22/01/2024 answer text HM Revenue and Customs conducts both civil and criminal investigations into R&D claimants it suspects have made false claims. HM Revenue and Customs does not centrally store data regarding penalties imposed due to falsely claimed R&D. It should be noted that in both civil and criminal operations, R&D (and any related penalty) may be one part of the investigation and form an element of the subsequent penalty and/or sentence. answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 22/01/2024 17:56:11 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4124 label Biography information for Chi Onwurah

1683033

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions his Department has had with insurance companies on recent trends in the level of the availability of insurance premiums that insure against (a) Research and Development Expenditure Credit and (b) Research and Development tax relief for small and medium-sized enterprises claims being disallowed.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	10123
answer	answer is ministerial correction date of answer 22/01/2024 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors on an ongoing basis.</p><p>Insurers make commercial decisions about the terms of cover they offer, including for tax liabilities, based on their assessment on the likelihood of a claim being made. The Government does not intervene in these commercial decisions by insurers as this could damage competition in the market.</p><p> </p><p>The Government is committed to making Research &amp; Development (R&amp;D) claims as straightforward as possible. His Majesty’s Revenue &amp; Customs (HMRC), are responsible for delivering the checks and compliance activity for R&amp;D claims, in line with their professional standards for compliance.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 22/01/2024 18:30:39 answering member 4639 label Biography information for Bim Afolami
tabling member	4124 label Biography information for Chi Onwurah