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1127522

	registered interest
	date	20/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department taking in relation to unregulated mini-bonds following the collapse of London Capital & Finance.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	256333
	answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 1 April, the Government announced it will direct the Financial Conduct Authority (FCA) to launch an investigation into the events and circumstances surrounding the failure and placing into administration of London Capital and Finance plc (LCF). This followed a request from the FCA Chair, Charles Randell, to launch such an investigation.</p><p> </p><p>On 23 May 2019, the Government laid a direction before Parliament setting out the terms of the investigation. Alongside this, the Government announced it will separately review the wider policy questions raised by this case.</p><p> </p><p>Although operationally independent, the Financial Services Compensation Scheme (FSCS) and the FCA are both accountable to HM Treasury and to Parliament. My officials and I engage with the FCA and FSCS on an ongoing basis, and HM Treasury continues to work with the relevant bodies on the failure of LCF as a matter of priority. The FSCS is also continuing work to increase awareness and understanding of FSCS protection.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 256334 question first answered 23/05/2019 12:46:44 answering member 4051 label Biography information for John Glen
	tabling member	4667 label Biography information for Mike Amesbury

1127523

	registered interest
	date	20/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the (a) Financial Conduct Authority and (b) Financial Services Compensation Scheme to ensure that investors in mini-bonds such have adequate information on the risks of such schemes before investing following the collapse of London Capital & Finance.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	256334
	answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 1 April, the Government announced it will direct the Financial Conduct Authority (FCA) to launch an investigation into the events and circumstances surrounding the failure and placing into administration of London Capital and Finance plc (LCF). This followed a request from the FCA Chair, Charles Randell, to launch such an investigation.</p><p> </p><p>On 23 May 2019, the Government laid a direction before Parliament setting out the terms of the investigation. Alongside this, the Government announced it will separately review the wider policy questions raised by this case.</p><p> </p><p>Although operationally independent, the Financial Services Compensation Scheme (FSCS) and the FCA are both accountable to HM Treasury and to Parliament. My officials and I engage with the FCA and FSCS on an ongoing basis, and HM Treasury continues to work with the relevant bodies on the failure of LCF as a matter of priority. The FSCS is also continuing work to increase awareness and understanding of FSCS protection.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 256333 question first answered 23/05/2019 12:46:44 answering member 4051 label Biography information for John Glen
	tabling member	4667 label Biography information for Mike Amesbury

1169007

	registered interest
	date	07/01/2020
	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	What steps he is taking to ensure that HMRC has adequate (a) powers and (b) resources to investigate tax avoidance enablers.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	900058
	answer	answer is ministerial correction date of answer 07/01/2020 answer text <p>The Government has taken significant action, including introducing 100 new measures tackling tax avoidance, evasion and other forms of non-compliance since 2010. This has secured and protected £200bn that would have otherwise gone unpaid, helping to bring the UK’s tax gap to a near record low of 5.6%.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 07/01/2020 17:29:46 answering member 3991 label Biography information for Jesse Norman
	tabling member	4667 label Biography information for Mike Amesbury

1182616

	registered interest
	date	04/03/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	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 support people that have lost savings as a result of the collapse of London Capital and Finance.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	25188
	answer	answer is ministerial correction date of answer 10/03/2020 answer text <p>The administrators for London Capital &amp; Finance (LCF) are currently estimating recoveries for investors affected by LCF’s failure. The Financial Services Compensation Scheme (FSCS), as the compensation scheme of last resort, can only provide compensation for claims connected with certain types of regulated activities.</p><p> </p><p>The FSCS has been working closely with LCF’s administrators and the Financial Conduct Authority to understand more about LCF’s activities. This investigation led FSCS to announce certain key decisions in relation to LCF in January 2020. First, the FSCS has announced it will protect LCF bondholders who switched from stocks and shares ISAs to LCF bonds. The FSCS has now paid £2.7m compensation to these LCF customers. Second, the FSCS has announced it is unable to protect LCF bondholders who dealt with LCF before it was authorised to carry out financial services business. The FSCS will contact these LCF customers to confirm this. Third, the FSCS has said that there will be some LCF customers who were given misleading advice by LCF, and who will have valid claims for compensation. The FSCS will provide a further communication with details of when and how customers in this category can submit their claims. The FSCS will aim to start reviewing these advice claims in the first quarter of 2020.</p><p> </p><p>The FSCS will provide a further update by the end of March outlining the next steps. In the meantime LCF customers do not need to take any action. Further information can be found at https://www.fscs.org.uk/failed-firms/lcf/.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/03/2020 16:26:26 answering member 4051 label Biography information for John Glen
	tabling member	4667 label Biography information for Mike Amesbury

1189275

	registered interest
	date	22/04/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Aviation: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to provide support to the airline industry; and whether he plans to ensure that support is contingent on airlines (a) not paying dividends to their shareholders, (b) rehiring staff and (c) taking additional steps to tackle climate change.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	38992
	answer	answer is ministerial correction date of answer 01/05/2020 answer text <p>The Government recognises the challenging times facing the aviation sector as a result of COVID-19 and the Chancellor wrote to the aviation sector on 24 March to set out the Government’s position and the support measures available. Given the significant importance of the aviation sector to our economy and economic recovery, the Government is prepared to enter negotiations with individual companies seeking bespoke support as a last resort, having exhausted other options. However further taxpayer support would only be possible if all commercial avenues have been fully explored, including raising further capital from existing investors and discussing arrangements with financial stakeholders.</p><p> </p><p>The Government has announced a package of measures, including the Coronavirus Job Retention Scheme, which help firms to retain employees. This Scheme will allow businesses to put employees on temporary leave, with the Government paying cash grants of 80% of their wages up to a cap of £2,500 per month, providing the business keeps the person employed.</p><p> </p><p>The Department for Transport are planning to consult to update the Government’s position on aviation and climate change. It is critical that we consider how the aviation sector can play its part in delivering our net zero ambitions.</p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 01/05/2020 10:37:19 answering member 4095 label Biography information for Steve Barclay
	tabling member	4667 label Biography information for Mike Amesbury

1197114

	registered interest
	date	19/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employment Income Support Scheme
	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 extending the Self-Employment Income Support Scheme to support people who receive a majority of their income through their armed services pension but earn additional income through self-employment.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	49111
	answer	answer is ministerial correction date of answer 03/06/2020 answer text <p>The Self-Employment Income Support Scheme (SEISS) helps those adversely affected by COVID-19 and is one of the most generous self-employed COVID-19 support schemes in the world. The SEISS, including the eligibility requirement that an individual’s trading profits must be no more than £50,000 and at least equal to their non-trading income, is targeted at those who most need it, and who are most reliant on their self-employment income.</p><p> </p><p>Income from an armed forces pension is subject to income tax and this is included in the calculation of an individual’s non-trading income. However, certain pensions paid to members of the armed forces, such as the additional pension paid to holders of certain gallantry awards, are not treated as income for income tax purposes. This income is not reported to HMRC and is not included in the calculation of non-trading income.</p><p> </p><p>Individuals receiving more than half their income from other sources, such as pensions, could still be eligible for other financial support. The SEISS is part of a comprehensive package of support for self-employed people, including Bounce Back loans, income tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays, and various business support measures. More information about the full range of business support measures is available at <a href="http://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19" target="_blank">www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19</a>.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 03/06/2020 09:30:04 answering member 3991 label Biography information for Jesse Norman
	tabling member	4667 label Biography information for Mike Amesbury

1249637

	registered interest
	date	09/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Directors: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what additional steps he has taken during the November 2020 covid-19 lockdown to support small company directors who in normal operating periods would have received dividend payments.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	113213
	answer	answer is ministerial correction date of answer 17/11/2020 answer text <p>The Winter Economy Plan set out a package of targeted measures in response to the current economic context that will enable businesses to protect jobs and manage their finances in the face of reduced or uncertain demand. This includes the extension of the temporary VAT reduced rate for hospitality and tourism, extending the application window of the access to finance schemes, and further support for employees and the self-employed.</p><p> </p><p>Company directors who pay themselves a salary through a PAYE scheme are able to apply for CJRS support, subject to meeting the eligibility criteria of the scheme. In addition, company directors may be eligible for other elements of the package of financial support available. This includes Bounce Back loans, tax deferrals, rental support, mortgage holidays, increased levels of Universal Credit, self-isolation support payments and other business support grants.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/11/2020 12:20:23 answering member 3991 label Biography information for Jesse Norman
	tabling member	4667 label Biography information for Mike Amesbury

1288065

	registered interest
	date	22/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the potential merits of providing further Government support for businesses registered for VAT where turnover has fallen below the £85,000 threshold.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	156541
	answer	answer is ministerial correction date of answer 02/03/2021 answer text <p>Businesses can ask HMRC to cancel their registration if their VAT taxable turnover falls below the deregistration threshold of £83,000. Businesses that are below the VAT threshold and are not voluntarily registered do not account for VAT on their supplies.</p><p> </p><p>In light of COVID-19, the Government has announced a significant support package to help businesses from a whole range of sectors 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 02/03/2021 13:01:46 answering member 3991 label Biography information for Jesse Norman
	tabling member	4667 label Biography information for Mike Amesbury

1299314

	registered interest
	date	03/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when he plans to publish further details of the tax on the UK residential property development sector, announced on 10 February 2021.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	162691
	answer	answer is ministerial correction date of answer 08/03/2021 answer text <p>The Secretary of State for the Ministry of Housing, Communities and Local Government made an oral statement to the House of Commons on building safety on 10 February 2021.</p><p> </p><p>That statement announced plans to introduce a new tax for the UK residential property development sector in 2022, to ensure the largest developers make a fair contribution to cladding remediation costs.</p><p> </p><p>The details of the policy design will be made public as soon as possible, and the Government will begin the consultation process in due course, to facilitate introduction for 2022.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/03/2021 12:49:41 answering member 3991 label Biography information for Jesse Norman
	tabling member	4667 label Biography information for Mike Amesbury

1304708

	registered interest
	date	22/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pension Funds: Government Securities
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the amount accruing to the Exchequer from the adoption of Consumer Prices Index Including Owner Occupiers' Housing Costs in relation to index-linked gilts from 2030; and whether he has plans to compensate pensioners in the event that their pension pots are reduced as a result of that matter.
	tabling member constituency	Weaver Vale
	tabling member printed	Mike Amesbury
	uin	173162
	answer	answer is ministerial correction date of answer 30/03/2021 answer text <p>Owing to shortcomings in its calculation, the UK Statistics Authority (UKSA) intends to bring the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into the Retail Prices Index (RPI). On 25 November 2020, the Government and UKSA published their response to the consultation on the reform to RPI.</p><p> </p><p>The Government will not offer compensation to the holders of index-linked gilts. The contractual terms of all index-linked gilts state that the RPI should be used to determine the index ratio which is used to calculate interest and redemption payments. There will be no change to this flowing from the implementation of UKSA’s reform.</p><p>For further information please see the consultation response at: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/03/2021 12:54:59 answering member 4051 label Biography information for John Glen
	tabling member	4667 label Biography information for Mike Amesbury