The Energy Profits Levy is a temporary measure, the revenues from which will help to provide vital support for households facing cost of living pressures.<\/p>
The government expects the combination of the Levy and its investment allowance to lead to an overall increase in investment.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"} } , "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Lucy Frazer"} , "dateOfAnswer" : {"_value" : "2022-06-28", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-06-28T15:06:42.407Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-06-28", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Offshore Industry: Taxation"} , "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 make an assessment of the potential impact of the energy profits levy on investor confidence in the North Sea energy sector.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4601", "label" : {"_value" : "Biography information for Andrew Bowie"} } , "tablingMemberConstituency" : {"_value" : "West Aberdeenshire and Kincardine"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bowie"} ], "uin" : "900779"} , {"_about" : "http://data.parliament.uk/resources/1312255", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1312255/answer", "answerText" : {"_value" : "
The super-deduction is available only to incorporated businesses subject to the charge of UK corporation tax.<\/p>
The Government has no plans to extend the super-deduction to unincorporated businesses.<\/p>
Unincorporated businesses can continue to claim 100% relief on qualifying investments in plant and machinery through the Annual Investment Allowance, which will remain at its highest ever level of £1 million until the end of 2021.<\/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" : "2021-04-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-04-29T09:10:50.357Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-04-26", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Business: Taxation"} , "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 make an assessment of the potential merits of extending the super deduction to unincorporated businesses.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4601", "label" : {"_value" : "Biography information for Andrew Bowie"} } , "tablingMemberConstituency" : {"_value" : "West Aberdeenshire and Kincardine"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bowie"} ], "uin" : "187293"} , {"_about" : "http://data.parliament.uk/resources/1231850", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1231850/answer", "answerText" : {"_value" : "
To help the Scottish Government manage their coronavirus response, the UK government made an unprecedented upfront funding guarantee on 24 July. This guarantees the Scottish Government will receive at least £6.5bn in additional resource funding this year on top of the funding set out at the Spring Budget.<\/p>
<\/p>
Since matters of local government are a devolved responsibility, it is for the Scottish Government to decide how much of this funding they use to support Scottish local authorities.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4095", "label" : {"_value" : "Biography information for Steve Barclay"} } , "answeringMemberConstituency" : {"_value" : "North East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Steve Barclay"} , "dateOfAnswer" : {"_value" : "2020-09-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2020-09-15T10:33:26.59Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2020-09-07", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Local Government Finance: Coronavirus"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what financial support his Department has allocated to the Scottish Government to support local authorities with local covid-19 lockdowns.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4601", "label" : {"_value" : "Biography information for Andrew Bowie"} } , "tablingMemberConstituency" : {"_value" : "West Aberdeenshire and Kincardine"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bowie"} ], "uin" : "86135"} , {"_about" : "http://data.parliament.uk/resources/1200021", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1200021/answer", "answerText" : {"_value" : "
Those who pay themselves a salary through their own company are eligible for the Coronavirus Job Retention Scheme (CJRS). The CJRS is available to employers, including owner-managers, and individuals paying themselves a salary through a PAYE scheme are eligible. Where furloughed directors, including companies with a sole director, need to carry out particular duties to fulfil their statutory obligations, they may do so provided it is no more than would reasonably be judged necessary for that purpose.<\/p>
<\/p>
Dividends are not covered by the CJRS or the Self-Employment Income Support Scheme (SEISS). Income from dividends is a return on investment in the company, rather than wages. Under current reporting mechanisms it is not possible for HM Revenue and Customs (HMRC) to distinguish between dividends derived from an individual\u2019s own company and dividends from other sources, and between dividends in lieu of employment income and as returns from other corporate activity.<\/p>
<\/p>
The Government has worked with stakeholders and carefully considered the case for providing a new system for those who pay themselves through dividends. However, targeting additional support for those who pay their wages via dividends is much more complex than existing income support schemes. Unlike announced support schemes, which use information HMRC already holds, it would require owner-managers to make a claim and submit information that HMRC could not efficiently or consistently verify to ensure payments were made to eligible companies, for eligible activity.<\/p>
<\/p>
The Government has heard the suggestion made that HMRC could adopt a \u2018pay now, claw back later\u2019 approach. However, such an approach would be highly resource-intensive to ensure appropriate compliance, and there is a high risk that incorrect or fraudulent payments could not be recovered, ultimately at the cost of UK taxpayers.<\/p>
<\/p>