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1086729

	registered interest
	date	11/03/2019
	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	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that HMRC uses the rule of law rather than an opinion of fairness to determine what is payable for the loan charge.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	230655
	answer	answer is ministerial correction date of answer 14/03/2019 answer text <p>Parliament has legislated the charge on Disguised Remuneration (DR) loans following the normal Parliamentary process.</p><p>DR schemes are contrived arrangements that pay loans in place of ordinary remuneration, with the sole purpose of avoiding income tax and National Insurance contributions. The loans are provided on terms that mean they are not repaid in practice, so they are no different to normal income and are, and always have been, taxable.</p><p>The charge on DR loans, legislated in Finance Act 2017, is a charge on DR loan balances outstanding at 5 April 2019. Its announcement at Budget 2016 provided scheme users with a three-year period to repay their DR loans, or to agree a settlement with HM Revenue and Customs (HMRC) before the charge takes effect.</p><p>HMRC’s role is to tackle avoidance and evasion, making sure people pay their fair share of tax and securing funding for our vital public services. Parliament has given HMRC the powers it needs to challenge businesses and individuals who do not pay their fair share, and it uses them responsibly and subject to appropriate checks and balances.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 14/03/2019 16:21:33 answering member 3935 label Biography information for Mel Stride
	tabling member	1436 label Biography information for Paul Farrelly

1110727

	registered interest
	date	09/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Soft Drinks: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the efficacy of the Soft Drinks Industry Levy since it was introduced in April 2018.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	242732
	answer	answer is ministerial correction date of answer 12/04/2019 answer text <p>Since its inception, the SDIL has been leading the way in sugar reduction programmes, and over half of sugary drinks have been reformulated, effectively removing 45 million kilogrammes of sugar every year from diets.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 12/04/2019 13:35:23 answering member 4320 label Biography information for Robert Jenrick
	tabling member	1436 label Biography information for Paul Farrelly

1137063

	registered interest
	date	04/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-assessment
	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 the Chief Executive of HMRC on providing extra support to people new to self-assessment in order that they understand the deadlines they must meet and the steps they must take.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	273352
	answer	answer is ministerial correction date of answer 12/07/2019 answer text <p>Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p>HMRC provide guidance for all new and existing self-assessment customers via the gov.uk site. Annually HMRC publish notes on how to complete tax returns: <a href="https://www.gov.uk/government/publications/self-assessment-tax-return-sa100" target="_blank">https://www.gov.uk/government/publications/self-assessment-tax-return-sa100</a>. Newly registered customers will receive a welcome letter which will include information on deadlines and what is required of them.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 12/07/2019 07:39:53 answering member 3991 label Biography information for Jesse Norman
	tabling member	1436 label Biography information for Paul Farrelly

1133248

	registered interest
	date	19/06/2019
	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 support SMEs affected by the cap on the R&D tax credit scheme.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	266762
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>Research and Development (R&amp;D) tax reliefs, including the small or medium-sized enterprise (SME) scheme, support businesses to invest and are a core part of the government’s support for innovation.</p><p> </p><p>Budget 2018 announced a cap on the payable tax credit element of the SME tax relief scheme of three times the company’s total PAYE and NICs liability for that year, to help prevent identified fraud and abuse of the scheme. The Government consulted on how the cap would be applied to minimise any impact on genuine businesses between 28 March and 24 May, and the responses to that consultation are presently under consideration.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 24/06/2019 15:56:42 answering member 3991 label Biography information for Jesse Norman
	tabling member	1436 label Biography information for Paul Farrelly

1134159

	registered interest
	date	24/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Redundancy Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of a lower earnings threshold exemption for exit payments in the public sector.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	268435
	answer	answer is ministerial correction date of answer 28/06/2019 answer text <p>The government has previously consulted and legislated on the policy for a cap of £95,000 on exit payments in the public sector. The consultation published on 10 April 2019 seeks views on the draft regulations to implement this policy.</p><p>An equalities impact assessment was conducted and published in the 2016 consultation ahead of the primary legislation. Following the current consultation, a further equalities assessment will be conducted on the final version of the legislation.</p><p>The government is aware of concerns about the impact of the cap on long serving workers and workers that cannot be categorised as amongst the best paid. The government was clear during the passage of the primary legislation that the cap will have no impact on the large majority of public sector workers. The proposed cap, amounting to six times the maximum statutory redundancy entitlement, will still offer a significant level of compensation and support to employees who must support their families, find new employment or as a bridge until retirement age. We accept that there will be some circumstances where it is necessary or desirable to relax the cap. The waiver is in place for use in exceptional situations, including where imposing the cap would cause genuine hardship.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss grouped question UIN 268436 question first answered 28/06/2019 09:31:13 answering member 4097 label Biography information for Elizabeth Truss
	tabling member	1436 label Biography information for Paul Farrelly

1134165

	registered interest
	date	24/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Redundancy Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that proposals to cap exit payments in the public sector does not have a disproportionate effect on (a) women and (b) older people.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	268436
	answer	answer is ministerial correction date of answer 28/06/2019 answer text <p>The government has previously consulted and legislated on the policy for a cap of £95,000 on exit payments in the public sector. The consultation published on 10 April 2019 seeks views on the draft regulations to implement this policy.</p><p>An equalities impact assessment was conducted and published in the 2016 consultation ahead of the primary legislation. Following the current consultation, a further equalities assessment will be conducted on the final version of the legislation.</p><p>The government is aware of concerns about the impact of the cap on long serving workers and workers that cannot be categorised as amongst the best paid. The government was clear during the passage of the primary legislation that the cap will have no impact on the large majority of public sector workers. The proposed cap, amounting to six times the maximum statutory redundancy entitlement, will still offer a significant level of compensation and support to employees who must support their families, find new employment or as a bridge until retirement age. We accept that there will be some circumstances where it is necessary or desirable to relax the cap. The waiver is in place for use in exceptional situations, including where imposing the cap would cause genuine hardship.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss grouped question UIN 268435 question first answered 28/06/2019 09:31:13 answering member 4097 label Biography information for Elizabeth Truss
	tabling member	1436 label Biography information for Paul Farrelly

1122396

	registered interest
	date	23/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Personal Savings: Older People
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to enable older people to (a) build and (b) maintain an adequate level of savings.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	246476
	answer	answer is ministerial correction date of answer 30/04/2019 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save.</p><p> </p><p>Older people will continue to benefit from a number of measures the Government has introduced in recent years.</p><p> </p><p>The Government has increased the amount that individuals, including older people and those of State Pension age, can earn or receive in savings interest before paying income tax to £12,500 per year. As a result, people can keep more of their income to invest as they choose.</p><p> </p><p>The amount of money that people can save into their ISAs each year (the annual subscription allowance) has been increased to a record £20,000.</p><p> </p><p>Since April 2016, individuals have also been able to benefit from a new Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers.</p><p> </p><p>As a result of these measures, over 95% of people with savings income pay no tax on that income.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/04/2019 16:13:50 answering member 4051 label Biography information for John Glen
	tabling member	1436 label Biography information for Paul Farrelly

1131016

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pension Funds: Consumer Information
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of advice given to retirees accessing their pension funds for the first time.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	262271
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government works closely with the Financial Conduct Authority (FCA), the independent financial services regulator, to ensure that the market for pensions advice works well, competitively and fairly, especially as consumers now have a wider variety of choice, with the onset of pension freedoms.</p><p>In 2017, the FCA published the results from its Assessing Suitability Review (ASR I) which looked at pension and investment advice delivered during 2015. The review showed that generally financial advice was suitable in 93.1% of cases, across a statistically representative sample of the entire market. The FCA are undertaking further work looking at the market for pensions transfer advice.</p><p>In August 2015 HM Treasury and the FCA launched the Financial Advice Market Review (FAMR) and have since then implemented its recommendations to ensure the financial advice market works better for consumers. The government and FCA are conducting a review of FAMR throughout 2019.</p><p>The Government is also committed to ensuring that people have access to free-to-access financial guidance and information on the options available to them when accessing their Defined Contribution pension, which is why PensionWise, now part of the Money and Pensions Service (MAPS), was set up in 2015.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:25:01 answering member 4051 label Biography information for John Glen
	tabling member	1436 label Biography information for Paul Farrelly

1121422

	registered interest
	date	11/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Non-domestic Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of replacing business rates with a transaction tax on retail sales in order to support the UK's high streets.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	244033
	answer	answer is ministerial correction date of answer 24/04/2019 answer text <p>Business rates raise £25 billion in England annually, and are an important source of funding for key local services.</p><p> </p><p>The Government concluded a fundamental review of business rates in 2016. Some respondents suggested alternative taxes, but there was no consensus and respondents were clear that these alternatives were not without their own issues.</p><p> </p><p>Respondents agreed that property based taxes were easy to collect, difficult to avoid, stable and clearly linked with local authority spending. Following stakeholder responses, the Government decided to keep business rates as a property tax.</p><p> </p><p>To support the high street, at Budget 2018 the Government announced Our Plan for the High Street – a package of support worth £1.6 billion.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 24/04/2019 12:04:06 answering member 3935 label Biography information for Mel Stride
	tabling member	1436 label Biography information for Paul Farrelly

1123970

	registered interest
	date	30/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Loans: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing an anti-usury law to cap interest rates and give borrowers more protection.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	249240
	answer	answer is ministerial correction date of answer 07/05/2019 answer text <p>On 1 April 2014 the Government transferred regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). The FCA proactively monitors the market, focusing on the areas most likely to cause consumer harm. The Government has given the FCA the power to cap all forms of credit, and the FCA can do so if it thinks it is necessary to protect consumers.</p><p> </p><p>The FCA introduced a price cap on the cost of payday lending in 2015, and more recently introduced a price cap on rent-to-own which came into force on 1 April 2019. The Government has strong concerns about the practices that the FCA has identified in the rent-to-own market, and welcomes the FCA’s decision to introduce a price cap.</p><p> </p><p>The FCA has said that it will keep the issue of capping the cost of credit in other markets under review.</p> answering member constituency Salisbury answering member printed John Glen question first answered 07/05/2019 13:33:58 answering member 4051 label Biography information for John Glen
	tabling member	1436 label Biography information for Paul Farrelly