HMRC estimates that, on average, businesses moving from the flat rate scheme to standard VAT accounting incur extra administrative costs of £45 per year.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-10-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-10-21T13:30:18.707Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-10-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Small Businesses: VAT"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on SMEs of a move from the flat rate scheme for VAT to the general rate.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "10891"} , {"_about" : "http://data.parliament.uk/resources/419849", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/419849/answer", "answerText" : {"_value" : "
No such assessment has been made. The Government has chosen to maintain the highest VAT registration threshold in the EU. EU law allows us to increase the threshold in line with inflation, and it has therefore increased to £82,000 with effect from 1 April 2015.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-10-20", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-10-20T16:36:42.697Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-10-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Tourism: VAT"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the potential benefits of increasing the turnover threshold at which it becomes necessary to adopt the general rate for VAT for the tourism industry.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "10892"} , {"_about" : "http://data.parliament.uk/resources/419862", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/419862/answer", "answerText" : {"_value" : "
The Parliament, and its then Treasury Select Committee, dissolved shortly after this report was published and HM Treasury was not able to prepare a response before dissolution.<\/p>
HM Treasury is considering the Committee\u2019s recommendations and will be responding to the new Committee in due course.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-10-29", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "10920"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-10-29T15:16:54.787Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-10-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Small Businesses: Loans"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, when he plans to respond to the recommendations of the Treasury Committee's report, Conduct and competition in SME lending, published on 16 March 2015.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "11212"} , {"_about" : "http://data.parliament.uk/resources/417544", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/417544/answer", "answerText" : {"_value" : "
Whether the Financial Conduct Authority (FCA) made an estimate of the potential liability of any banks is a matter for the FCA. However, it is reasonable to assume that for any conduct issue that arises, the FCA would seek to understand the potential financial impact.<\/p>
<\/p>
<\/p>
<\/p>
Several meetings took place between Treasury Ministers and the FCA in January 2012 (then the Financial Services Authority), although I understand that FCA\u2019s interest rate hedging products redress scheme was not on the agenda for any of these meetings.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-09-14", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "9411"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-14T15:20:39.693Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-09-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Interest Rate Hedging Products"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, whether Ministers in his Department met representatives of the Financial Conduct Authority (FCA) to discuss the FCA interest rate hedging products redress scheme in January 2013.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "9410"} , {"_about" : "http://data.parliament.uk/resources/417545", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/417545/answer", "answerText" : {"_value" : "
Whether the Financial Conduct Authority (FCA) made an estimate of the potential liability of any banks is a matter for the FCA. However, it is reasonable to assume that for any conduct issue that arises, the FCA would seek to understand the potential financial impact.<\/p>
<\/p>
<\/p>
<\/p>
Several meetings took place between Treasury Ministers and the FCA in January 2012 (then the Financial Services Authority), although I understand that FCA\u2019s interest rate hedging products redress scheme was not on the agenda for any of these meetings.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-09-14", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "9410"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-14T15:20:39.63Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-09-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Interest Rate Hedging Products"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, whether the Financial Conduct Authority made an estimate of the potential liability of (a) Lloyds and (b) RBS under the interest rate hedging products redress scheme during the development of that scheme.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "9411"} , {"_about" : "http://data.parliament.uk/resources/416311", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/416311/answer", "answerText" : {"_value" : "
The Government has chosen to maintain the highest VAT registration threshold in the EU (set at £82,000 from 1 April 2015). The Government may not increase this threshold further, aside from maintaining its value in line with inflation, without the consent of the European Commission and the unanimous agreement of all EU Member States.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-09-14", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-14T14:49:26.577Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-09-04", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Small Businesses: Minimum Wage"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential effect of increasing the VAT threshold so that small businesses complying with the new national minimum wage can continue to operate below the VAT threshold.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "8887"} , {"_about" : "http://data.parliament.uk/resources/386951", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/386951/answer", "answerText" : {"_value" : "
As detailed by the Chancellor in his speech to the Mansion House, the Government has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).<\/p>
<\/p>
<\/p>
<\/p>
The Government\u2019s shareholding in RBS is managed at arm\u2019s length from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for the design and execution of any future sale.<\/p>
<\/p>
<\/p>
<\/p>
Provision for the potential impact of regulatory fines or penalties is regularly published by RBS as part of the bank\u2019s accounts process. This information is available to any prospective investor.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-07-07", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "5084"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-07-07T12:50:44.64Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-07-01", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Royal Bank of Scotland"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what provision his Department has made in the sales prospectus for RBS shares for the cost of litigation (a) that has commenced and (b) that complainants have given notice of their plans to commence in respect of interest rate swap mis-selling.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "5085"} , {"_about" : "http://data.parliament.uk/resources/386953", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/386953/answer", "answerText" : {"_value" : "
As detailed by the Chancellor in his speech to the Mansion House, the Government has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).<\/p>
<\/p>
<\/p>
<\/p>
The Government\u2019s shareholding in RBS is managed at arm\u2019s length from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for the design and execution of any future sale.<\/p>
<\/p>
<\/p>
<\/p>
Provision for the potential impact of regulatory fines or penalties is regularly published by RBS as part of the bank\u2019s accounts process. This information is available to any prospective investor.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-07-07", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "5085"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-07-07T12:50:44.733Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-07-01", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Royal Bank of Scotland"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what provision his Department has made in the sales prospectus for RBS for consequential losses arising from the FCA interest rate hedging product mis-selling redress scheme.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3910", "label" : {"_value" : "Biography information for Guto Bebb"} } , "tablingMemberConstituency" : {"_value" : "Aberconwy"} , "tablingMemberPrinted" : [{"_value" : "Guto Bebb"} ], "uin" : "5084"} , {"_about" : "http://data.parliament.uk/resources/228774", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/228774/answer", "answerText" : {"_value" : "
I was very sorry to hear about the difficulties faced by investors in the Connaught Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able to finalise their investigation promptly.
On 10 March, the FCA provided an update on proceedings which can be found here:<\/p>