On 1 April 2014, the Government fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility to the Financial Conduct Authority (FCA).<\/p>
<\/p>
Like other types of credit, litigation funding in the form of credit is regulated by the FCA and therefore its Consumer Credit Sourcebook applies to these products.<\/p>
<\/p>
The FCA is looking at whether consumer harm needs to be mitigated in this sector and continues to monitor new firms providing credit to fund legal fees.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2020-01-14", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2020-01-14T12:46:20.38Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2020-01-07", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Divorce: Civil Proceedings"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, if he will review the transparency, clarity and regulation of litigation loans for divorces to ensure that customers are fully aware of the implications of those loans before taking them out.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3924", "label" : {"_value" : "Biography information for Yasmin Qureshi"} } , "tablingMemberConstituency" : {"_value" : "Bolton South East"} , "tablingMemberPrinted" : [{"_value" : "Yasmin Qureshi"} ], "uin" : "970"} , {"_about" : "http://data.parliament.uk/resources/1146546", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1146546/answer", "answerText" : {"_value" : "
It is not possible to answer the question without incurring disproportionate costs in the time available. HMRC\u2019s central reporting system does not hold the specific data required and therefore HMRC is unable to answer the question.<\/p>
<\/p>
In 2018-19, HMRC generated £34.1 billion in compliance yield against its target of £30 billion. The number of compliance cases concluded in each of the last three years are shown in the table below (rounded to the nearest 5K):<\/p>
<\/p>
Description<\/p><\/td> | 2016/17<\/p><\/td> | 2017/18<\/p><\/td> | 2018/19<\/p><\/td><\/tr> |
Cases Closed<\/p><\/td> | 580k<\/p><\/td> | 475k<\/p><\/td> | 390k<\/p><\/td><\/tr><\/tbody><\/table> <\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3991", "label" : {"_value" : "Biography information for Jesse Norman"} } , "answeringMemberConstituency" : {"_value" : "Hereford and South Herefordshire"} , "answeringMemberPrinted" : {"_value" : "Jesse Norman"} , "dateOfAnswer" : {"_value" : "2019-10-04", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-10-04T13:21:41.907Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-09-26", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Self-assessment"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, how many enquiries have been conducted on the tax returns of self-assessment taxpayers excluding trusts, partnerships, charities in each financial year since 2008-09.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3924", "label" : {"_value" : "Biography information for Yasmin Qureshi"} } , "tablingMemberConstituency" : {"_value" : "Bolton South East"} , "tablingMemberPrinted" : [{"_value" : "Yasmin Qureshi"} ], "uin" : "291350"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 2, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} } |