The estimate is the tax recovered from insolvencies that HM Revenue and Customs (HMRC) would not otherwise have collected before the policy was implemented. Adjustments were made for tax and payment timing.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-05-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-22T16:21:03.407Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what was the basis for their estimate in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, that the reintroduction of preferential status for any Crown creditor would yield £185 million per annum in additional tax revenue.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4159", "label" : {"_value" : "Biography information for Baroness Hayter of Kentish Town"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Hayter of Kentish Town"} ], "uin" : "HL15665"} , {"_about" : "http://data.parliament.uk/resources/1126306", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1126306/answer", "answerText" : {"_value" : "
The \u2018Protecting your taxes in insolvency\u2019 proposals take into account lost government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC.<\/p>
<\/p>
Lending against fixed assets will not be impacted by this measure, but lending against floating assets will be impacted, as HMRC will move above secured creditors with floating charges in insolvencies.<\/p>
<\/p>
At Budget 2018, the independent OBR chose not to make any adjustments to their economic forecast in response to this measure.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-05-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-22T16:22:56.03Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether the proposals in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, to reintroduce preferential status for any Crown creditor takes into account lost Government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC, and any consequential loss to the economy resulting other taxpayers themselves becoming insolvent due to an increased burden of bad debt; and what assessment, if any, they have made of the impact of that change on lending.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4159", "label" : {"_value" : "Biography information for Baroness Hayter of Kentish Town"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Hayter of Kentish Town"} ], "uin" : "HL15666"} , {"_about" : "http://data.parliament.uk/resources/1125502", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125502/answer", "answerText" : {"_value" : "
\u201cCum-ex\u201d tax fraud exploits rules which impose withholding tax (WHT) on dividend payments. The UK does not apply WHT to dividend payments; there is no direct UK tax impact on banks, other taxpayers or HM Treasury.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL15598"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T14:12:33.433Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Tax Evasion"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what estimate they have made of the cost to HM Treasury of \"cum-ex\" tax fraud since 2012; and whether there have been any related prosecutions.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/384", "label" : {"_value" : "Biography information for Baroness McIntosh of Pickering"} } , "tablingMemberPrinted" : [{"_value" : "Baroness McIntosh of Pickering"} ], "uin" : "HL15597"} , {"_about" : "http://data.parliament.uk/resources/1125503", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125503/answer", "answerText" : {"_value" : "
\u201cCum-ex\u201d tax fraud exploits rules which impose withholding tax (WHT) on dividend payments. The UK does not apply WHT to dividend payments; there is no direct UK tax impact on banks, other taxpayers or HM Treasury.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL15597"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T14:12:33.37Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Tax Evasion"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what assessment they have made of the impact of \"cum-ex\" tax fraud on (1) banks, (2) taxpayers, and (3) HM Treasury.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/384", "label" : {"_value" : "Biography information for Baroness McIntosh of Pickering"} } , "tablingMemberPrinted" : [{"_value" : "Baroness McIntosh of Pickering"} ], "uin" : "HL15598"} , {"_about" : "http://data.parliament.uk/resources/1125515", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125515/answer", "answerText" : {"_value" : "
A customs union would eliminate tariff and rules of origin barriers on trade in goods only, as they do not concern trade in services.<\/p>
<\/strong><\/p> The Government\u2019s ambition is to preserve the economic benefits of the most important financial services traded between the UK and the EU, and ensure stable institutional processes for governing the relationship in financial services. This is the best way to protect financial stability and open markets, and is in the interests of businesses and consumers on both sides. This ambition is reflected in the Political Declaration agreed by the UK and the EU in November 2018.<\/p> <\/p> We remain committed to preserving our competitive position in financial services after the UK has left the European Union. Our industry continues to innovate and to move with the times \u2013 we have world-leading positions in the markets of the future, including green and sustainable finance, FinTech, and renminbi and rupee products.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-21T14:01:00.357Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what assessment they have made of remarks by the chief executive of the Financial Conduct Authority about the impact of a post-Brexit customs union on the UK financial services sector.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"}
], "uin" : "HL15610"}
, {"_about" : "http://data.parliament.uk/resources/1125516", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1125516/answer", "answerText" : {"_value" : " In the event that the UK leaves the EU ETS under a No Deal scenario, Government policy remains that we will implement a carbon emissions tax on an interim basis.<\/p> We are discussing with the Commission the implications of our exit from the EU for our future participation in the EU ETS.<\/p> A consultation on long-term carbon pricing once the UK has left the UK has now been launched.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-21T14:02:51.307Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "EU Emissions Trading Scheme"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government whether they intend to replicate the European Trading Scheme carbon emissions tax on companies in the event of a no-deal Brexit.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"}
], "uin" : "HL15611"}
, {"_about" : "http://data.parliament.uk/resources/1124896", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124896/answer", "answerText" : {"_value" : "The government is confident that the UK will continue to represent an attractive place to do business, and be a world-leading, global financial centre for asset management, including Private Equity. <\/p> Investment is crucial for the economic future of this country, and the government is committed to ensuring that businesses can access to the finance they need as we leave the EU. In April 2019, the government provided the British Business Bank with an additional £200m to invest in venture and growth capital in 2019/20.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-21T13:26:17.79Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-07", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Private Equity"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what assessment they have made of the decline in private equity investments in UK companies due to Brexit uncertainty.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"}
], "uin" : "HL15571"}
, {"_about" : "http://data.parliament.uk/resources/1124897", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124897/answer", "answerText" : {"_value" : " I refer the noble Lord to the answer l gave on 25 April 2019 to Question HL15205[1].<\/p> <\/p> [1] https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Lords/2019-04-10/HL15205/<\/a><\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "HL15573"}
, {"_value" : "HL15574"}
, {"_value" : "HL15575"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-21T13:38:52.687Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-07", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Electricity: VAT"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what estimate they have made of the amount of revenue that has been raised in VAT and collected by HMRC from sales of electricity in each year since 1 April 2013 to date.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3789", "label" : {"_value" : "Biography information for Lord Teverson"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Teverson"}
], "uin" : "HL15572"}
, {"_about" : "http://data.parliament.uk/resources/1124898", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124898/answer", "answerText" : {"_value" : " I refer the noble Lord to the answer l gave on 25 April 2019 to Question HL15205[1].<\/p> <\/p>