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1668141

	registered interest
	date	07/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	VAT: Registration
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what plans they have to increase the threshold for compulsory registration for VAT; and what plans they have to reinstate the policy of annually updating the threshold in line with inflation.
	tabling member printed	Lord Allen of Kensington
	uin	HL1
	answer	answer is ministerial correction date of answer 21/11/2023 answer text <p>Views on the VAT registration threshold are divided and the case for change has been regularly reviewed over the years.</p><p>In 2018, the Government consulted on how the design of the VAT registration threshold could better incentivise growth. However, there was no clear option for reform.</p><p>While the Government keeps all taxes under review, it was announced at Autumn Budget 2022 that the VAT threshold will be maintained at its current level of £85,000 until 31 March 2026.</p> answering member printed Baroness Vere of Norbiton question first answered 21/11/2023 12:00:13 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4304 label Biography information for Lord Allen of Kensington

1668142

	registered interest
	date	07/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Exports: VAT
	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 withdrawal of the VAT Retail Export Scheme; and if they have any plans to reintroduce the scheme.
	tabling member printed	Lord Allen of Kensington
	uin	HL2
	answer	answer is ministerial correction date of answer 21/11/2023 answer text <p>The Government’s assessment of the anticipated impact of the withdrawal of the VAT Retail Export Scheme (VAT RES) was set out in the original policy costing note which can be found in the Policy costings document from November 2020 p42-43.</p><p>Government analysis conducted in 2022 found that introducing a worldwide scheme could come at a fiscal cost of around £2 billion each year. This figure consists of the cost from EU and non-EU visitors and is calculated based on methodology signed off and certified by the OBR in 2020.</p><p>Whilst there are no current plans to re-introduce VAT RES, this Government keeps all tax policy under review, and we are very grateful to industry for their contribution to our invitation to provide evidence on this matter.</p> answering member printed Baroness Vere of Norbiton question first answered 21/11/2023 12:28:43 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4304 label Biography information for Lord Allen of Kensington

1668144

	registered interest
	date	07/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Training: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what plans they have to regularise the treatment of training expenses against profits subject to Schedule D income tax and profits subject to corporation tax.
	tabling member printed	Lord Allen of Kensington
	uin	HL3
	answer	answer is ministerial correction date of answer 21/11/2023 answer text <p>In calculating taxable business profits, expenditure on training to update existing skills would be a deductible business expense when the expenditure is incurred wholly and exclusively for the purposes of the business and is not capital in nature. The treatment of these training expenses is the same irrespective of whether the taxpayer pays income tax or corporation tax.</p><p> </p><p>Any changes to tax policy are a matter for future Budgets and it would not be appropriate to comment on tax measures at this stage of the policy development cycle.</p> answering member printed Baroness Vere of Norbiton question first answered 21/11/2023 13:55:00 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4304 label Biography information for Lord Allen of Kensington