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1713072

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Counter-terrorism and Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his planned timetable is to decide on the model for Anti-Money Laundering and Counter-Terrorism Financing supervisory reform.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23087
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The Treasury’s consultation on reforming the UK’s Anti-Money Laundering and Counter-Terrorism Financing supervisory regime closed in September 2023. The Department is continuing to analyse responses with the intention to announce a decision in due course as part of our commitment to reform the current supervision system and reduce economic crime.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 29/04/2024 14:31:59 answering member 4639 label Biography information for Bim Afolami
tabling member	140 label Biography information for Dame Margaret Hodge

1713077

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the HMRC registration is for the Trust or company service provider that provides a company registered address for 149 live UK companies at Office 1 16 Beck Road, Leeds, United Kingdom LS8 4EJ.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23088
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>HMRC’s register of Trust or Company Service Providers (TCSPs) does not show any TSCPs with that registered office address; and none of the TCSPs supervised by HMRC lists the address as business premises. HMRC supervises only those TCSPs which are not supervised by a professional body supervisor or the Financial Conduct Authority</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:26:17 answering member 4407 label Biography information for Nigel Huddleston
tabling member	140 label Biography information for Dame Margaret Hodge

1713116

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Trusts: Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when HM Revenue and Customs plans to calculate and publish a new standalone offshore tax gap.
tabling member constituency	Barking
tabling member printed	Dame Margaret Hodge
uin	23089
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>An estimate of the annual offshore tax gap for individuals in Self Assessment will be published alongside HMRC’s measuring tax gaps statistics ‘Measuring tax gaps 2024 edition’ scheduled for 20 June 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:30:20 answering member 4407 label Biography information for Nigel Huddleston
tabling member	140 label Biography information for Dame Margaret Hodge

1713187

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he plans to take in the 2024-25 financial year to help tackle crypto currency fraud.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	23147
answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The Government takes the issue of fraud very seriously, and published a comprehensive Fraud Strategy in May last year. Through this the Government will work: with industry to remove the vulnerabilities that fraudsters exploit; with intelligence agencies to shut down fraudulent infrastructure; with law enforcement to identify and bring the most harmful offenders to justice; and with all partners to ensure that the public have the advice and support they need</p><p><br>Further, the Financial Conduct Authority (FCA) commenced enforcement of the cryptoassets financial promotion regime in October last year, requiring such promotions to be fair, clear and not misleading. This is aimed at improving consumers’ understanding of the risks and benefits associated with cryptoasset purchases and ensuring that cryptoasset promotions are held to the same standards as similar risk financial services products. In the next phase of its work, the Government is creating a comprehensive financial services regulatory regime for cryptoassets in the UK.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/04/2024 13:07:45 answering member 4639 label Biography information for Bim Afolami
tabling member	1409 label Biography information for Mr Gregory Campbell

1713231

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Industry: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the revenue that will be raised by the Energy Profits Levy by March 2029.
tabling member constituency	North Devon
tabling member printed	Selaine Saxby
uin	23331
answer	answer is ministerial correction date of answer 30/04/2024 answer text Forecasts for government revenues from oil and gas production, including for Energy Profits Levy, are provided by the Office for Budget Responsibility (OBR). Their most recent published forecast, provided for Spring Budget 2024 on 6 March, is available on the OBR website at the following link <a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/</a>.<p> </p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 30/04/2024 09:41:09 answering member 4850 label Biography information for Gareth Davies
tabling member	4863 label Biography information for Selaine Saxby

1713246

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Self-employed
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people paid class 4 National Insurance contributions in the most recent year for which figures are available.
tabling member constituency	North Devon
tabling member printed	Selaine Saxby
uin	23346
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The number of people who paid Class 4 National Insurance Contributions is approximately 2.69 million in 2021 to 2022. The estimate accounts for the whole of the UK and is based on the 2021 to 2022 Survey of Personal Incomes (SPI), which is the latest outturn year available.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:24:18 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4863 label Biography information for Selaine Saxby

1713247

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Self-employed
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what was the total value of receipts from Class 4 National Insurance contributions in the most recent year for which figures are available.
tabling member constituency	North Devon
tabling member printed	Selaine Saxby
uin	23347
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The breakdown of National Insurance contributions (NICs) by class for Great Britain and Northern Ireland is provided by HM Revenue and Customs (HMRC) in “National Insurance Fund (NIF) Accounts”, available here (in the Notes to the Account):</p><p><a href="https://www.gov.uk/government/publications/national-insurance-fund-accounts" target="_blank">https://www.gov.uk/government/publications/national-insurance-fund-accounts</a></p><p> </p><p>The figures for tax year 2023 to 2024 will be published later this year. Note that the breakdown in the NIF accounts does not include the NHS allocation, paid over by HMRC to the NHS, though information on this allocation is included in the NIF Accounts.</p><p> </p><p>Information on NICs can also be found in the “HMRC tax receipts and National Insurance contributions for the UK” statistical bulletin, available here:</p><p><a href="https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk" target="_blank">HMRC tax receipts and National Insurance contributions for the UK - GOV.UK (www.gov.uk)</a></p><p> </p><p>These include figures for NICs received through Self Assessment (including both Class 2 and Class 4). Receipts for 2023-24 are now available, but are provisional and will be updated later this year.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 14:28:19 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4863 label Biography information for Selaine Saxby

1713314

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to address the impact of rising inflation on household budgets while stimulating consumer spending, given the stagnation of retail sales between February and March.
tabling member printed	Lord Taylor of Warwick
uin	HL4055
answer	answer is ministerial correction date of answer 02/05/2024 answer text <p>The government is fully committed to supporting the Bank get inflation back down to the 2% target, including by keeping borrowing under control. Inflation has also come down significantly, to less than half its 2022 peak.</p><p> </p><p>Over the past two years, the government has provided support to help households with the cost of living totalling £96 billion – an average of £3400 per UK household. Further support announced by the government for 2024-25 includes extending the Household Support Fund, cutting National Insurance Contributions (NICs) and raising the National Living Wage (NLW).</p><p> </p><p> </p><p>ONS retail sales growth was flat in March, following growth of 0.1% in February. However, due to a significant rebound in January, retail sales increased by 1.9% on the quarter. This represents the strongest quarterly growth since Q2 2021.</p> answering member printed Baroness Vere of Norbiton question first answered 02/05/2024 11:29:03 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1712656

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Foreign Investment in UK
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of the delay of the Overseas Funds Regime on the UK's attractiveness to overseas asset managers; and what steps they are taking to mitigate any negative effects.
tabling member printed	Lord Taylor of Warwick
uin	HL4017
answer	answer is ministerial correction date of answer 02/05/2024 answer text <p>The UK’s world-leading asset management sector is the second largest by assets under management, 48% of which are managed on behalf of overseas investors.</p><p> </p><p>The Overseas Funds Regime was legislated for in the Financial Services Act 2021, to create a more streamlined process for overseas investment funds to be sold to UK investors.</p><p> </p><p>On 30<sup>th</sup> January, the Economic Secretary to the Treasury announced that the Government had found the states in the European Economic Area, including the EU member states, equivalent under the Overseas Funds Regime, in respect of certain retail funds. This followed a detailed assessment of the states’ regulatory regimes.</p><p> </p><p>HM Treasury and the Financial Conduct Authority (FCA) jointly published a roadmap to equivalence on the 1<sup>st</sup> of May setting out the key milestones to implement this decision.</p><p> </p><p>Alongside this, the FCA published detailed guidance setting out that funds in scope of the OFR – but without temporary marketing access – will be able to apply to the FCA for recognition from September 2024. The FCA intends to invite funds with temporary marketing access to apply for recognition in tranches between October 2024 and September 2026.</p> answering member printed Baroness Vere of Norbiton question first answered 02/05/2024 11:28:09 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1712779

registered interest
date	22/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many value added tax registrations there were in each deprivation decile in each (a) parliamentary constituency and (b) ward in Scotland in each year since 2019.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	22993
answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>The requested information on Value Added Tax (VAT) registrations by deprivation decile is not available. HMRC does not publish any VAT statistics containing geographic breakdowns. This is because VAT registrations can have both single and multiple sites, and therefore such breakdowns would be of limited value.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/04/2024 11:07:51 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4482 label Biography information for Owen Thompson