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1349161

registered interest
date	21/07/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Allowances: Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of restricting tax relief for private equity companies which take over UK-based companies to (a) prevent them from offsetting debt against their corporation tax liability and (b) require them to pay tax on their turnover.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	37498
answer	answer is ministerial correction date of answer 10/09/2021 answer text <p>Groups of companies which are owned by private equity funds are subject to the same UK tax rules as other companies. The UK has some of the world’s most comprehensive rules limiting relief for interest. Tax relief is only available for interest on debts incurred for commercial purposes and on arm’s length terms. It is further limited by the Corporate Interest Restriction, introduced from 2017 in line with the OECD-G20 Base Erosion and Profit Shifting project.</p><p> </p><p>Unlike profit taxes, a turnover tax would not take into account businesses’ ability to pay, meaning those with low profit margins would be disproportionately burdened. If applied to all businesses in a supply chain, multiple layers of tax could accrue, the cost of which could be passed onto consumers. Rather than applying a general turnover tax, the UK has a value added tax, VAT, which applies to all companies with taxable turnover over the threshold, including companies owned by private equity funds.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 10/09/2021 13:36:18 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1286319

registered interest
date	11/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-employment Income Support Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of bringing forward the next grant for the Self-employment Income Support Scheme to assist people who require support now.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	153283
answer	answer is ministerial correction date of answer 22/02/2021 answer text <p>The Government is committed to supporting the self-employed population during the COVID-19 pandemic through a substantial package of support.</p><p> </p><p>The three Self-Employment Income Support Scheme (SEISS) grants combined provided up to £21,570 of support for each individual, placing the SEISS among the most generous schemes for the self-employed in the world. As of 31 December, about 2.7 million individuals have made claims totalling over £18.9 billion so far across all three grants.</p><p> </p><p>The claims window for the third grant closed on 29 January 2021. The Government committed on 24 September 2020 that there would be a fourth grant; details of which will be announced alongside other economic updates at Budget in March.</p><p> </p><p>The SEISS is not intended to provide a month-by-month replacement of income. Due to the volatility of self-employed income and the lack of granular data that HMRC hold on self-employed trading profits, precise mapping of income replacement month by month is not possible. Instead, the SEISS provides a lump sum payment to support eligible self-employed individuals whose businesses have been affected by coronavirus.</p><p> </p><p>The SEISS continues to be just one element of a substantial package of support for the self-employed. In addition to the SEISS, individuals may also have access to other elements of the package, including Bounce Back loans, tax deferrals, rental support, mortgage holidays, self-isolation support payments and other business support grants.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 153300 question first answered 22/02/2021 11:14:09 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1284378

registered interest
date	05/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Events Industry: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the reduced 5 per cent VAT rate on ticket sales for live events for financial year 2021-22.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	149780
answer	answer is ministerial correction date of answer 10/02/2021 answer text <p>The temporary VAT reduced rate came into effect on 15 July 2020 and was initially scheduled to end on 12 January 2021.</p><p> </p><p>In order to continue supporting the cash flow and viability of over 150,000 businesses and to protect 2.4 million jobs, the Government extended the temporary reduced rate of VAT (five per cent) to goods and services supplied by the tourism and hospitality sectors until 31 March 2021.</p><p> </p><p>The Government keeps all taxes under review, and all stakeholder views are carefully considered. Any future decisions on tax policy will be made at Budget.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 149781 question first answered 10/02/2021 16:45:17 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1284380

registered interest
date	05/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Events Industry: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the (a) theatre and (b) live event industry regarding the potential effect of an increase in VAT on ticket sales to 20 per cent.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	149781
answer	answer is ministerial correction date of answer 10/02/2021 answer text <p>The temporary VAT reduced rate came into effect on 15 July 2020 and was initially scheduled to end on 12 January 2021.</p><p> </p><p>In order to continue supporting the cash flow and viability of over 150,000 businesses and to protect 2.4 million jobs, the Government extended the temporary reduced rate of VAT (five per cent) to goods and services supplied by the tourism and hospitality sectors until 31 March 2021.</p><p> </p><p>The Government keeps all taxes under review, and all stakeholder views are carefully considered. Any future decisions on tax policy will be made at Budget.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 149780 question first answered 10/02/2021 16:45:17 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1284069

registered interest
date	04/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Holiday Accommodation: Self-employment Income Support Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the self-catering accommodation industry on enabling professional self-caterers to access the Self-Employment Income Support Scheme.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	149259
answer	answer is ministerial correction date of answer 09/02/2021 answer text <p>The Self-Employment Income Support Scheme (SEISS) was designed to support eligible self-employed individuals by providing, in its third phase, a taxable grant worth 80% of average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is designed to ensure that support will be targeted to those self-employed individuals who need it most.</p><p> </p><p>Those individuals who are ineligible for the SEISS may be eligible for other elements of the Government’s support package, including Bounce Back loans, tax deferrals, rental support, mortgage holidays, self-isolation support payments and other business support grants.</p><p> </p><p>Other businesses, including those in the self-catering accommodation industry, may benefit from the additional funding for businesses worth £4.6 billion across the UK. All local authorities in England have received an additional £500 million of discretionary funding to support their local businesses. This builds on the £1.1 billion discretionary funding which local authorities had previously received to support their local economies and help businesses affected by the COVID-19 crisis. This is on top of support being offered to businesses required to close through the Local Restrictions Support Grant and additional one-off grants.</p><p> </p><p>The Government encourages local authorities to use their Additional Restrictions Grant allocations to set up a discretionary grant scheme using this funding e.g. for those businesses who are affected by closures, but which are not legally closed. However, local authorities can also use it to support businesses indirectly including by providing additional guidance and support for businesses in their areas.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 09/02/2021 13:08:02 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1271827

registered interest
date	16/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Revenue and Customs: Debt Collection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the employment by HMRC of debt collection companies based in off-shore tax havens; and if he will make a statement.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	130768
answer	answer is ministerial correction date of answer 11/01/2021 answer text HMRC do not hire Debt Collection Agencies (DCAs) directly. DCAs are hired via the Debt Market Integrator (DMI) Framework, currently with Indesser. As a tax authority HMRC adopt a strengthened approach to tax compliance for their own procurements, conducting robust checks on each of the DCAs engaged through the DMI. None of the DCAs onboarded to the HMRC panel (of which there are 8) is based in offshore tax havens; all are registered and based in the UK. answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/01/2021 13:34:40 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1270780

registered interest
date	14/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Off-payroll Working: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the IR35 off-payroll working rules on self-employed contractors during the covid-19 outbreak.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	129043
answer	answer is ministerial correction date of answer 17/12/2020 answer text <p>The off-payroll working rules (commonly known as IR35) have been in place for nearly 20 years and are designed to ensure that individuals working like employees but through their own company pay broadly the same Income Tax and National Insurance contributions (NICs) as those who are employed directly.</p><p> </p><p>These rules only apply to individuals who are working like employees under the current employment status tests, and do not apply to the self-employed.</p><p> </p><p>As part of the support the Government provided for businesses and individuals to deal with the economic impacts of COVID-19, the reform to the off-payroll working rules was delayed for one year, from 6 April 2020 until 6 April 2021.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/12/2020 14:38:22 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1270782

registered interest
date	14/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Off-payroll Working: Ethnic Groups
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what equality impact assessments his Department has carried out on the effect of the IR35 off-payroll working rules on the BAME community.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	129044
answer	answer is ministerial correction date of answer 17/12/2020 answer text <p>As set out in the Tax Information and Impact Note (TIIN) published in July 2019, the reform of the off-payroll working rules is not anticipated to have a specific impact on groups sharing protected characteristics.</p><p> </p><p>The TIIN can be found here: <a href="https://www.gov.uk/government/publications/rules-for-off-payroll-working-from-april-2020/rules-for-off-payroll-working-from-april-2020" target="_blank">https://www.gov.uk/government/publications/rules-for-off-payroll-working-from-april-2020/rules-for-off-payroll-working-from-april-2020</a>.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/12/2020 15:00:38 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1270784

registered interest
date	14/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Off-payroll Working: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of delaying the implementation of the IR35 off-payroll working rules during the covid-19 outbreak.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	129045
answer	answer is ministerial correction date of answer 17/12/2020 answer text <p>The Government made the decision to delay the reform of the off-payroll working rules until April 2021 in response to the COVID-19 crisis. There is no rationale for further delay. The legislation has now received Royal Assent as part of Finance Act 2020, and the reform will be implemented in April 2021 as announced.</p><p>The reform was originally announced at Budget 2018. Many businesses would have been prepared for the reform to be implemented in April 2020 as originally planned, and HMRC have undertaken a significant programme of education and support to ensure that large and medium-sized businesses are ready to implement the reform.</p><p>Further delaying implementation of these changes would have very significant drawbacks. It would prolong the fundamental unfairness of taxing two people differently for the same work, in addition to the fiscal cost. It would also extend the disparity between the private and voluntary sectors, and the public sector, where the reform has been in place since 2017.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/12/2020 14:59:04 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady

1256614

registered interest
date	30/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Care Services: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the VAT reduction offered to hospitality services until March 2021 to (a) hairdressers, (b) beauty services and (c) other close contact services.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	122764
answer	answer is ministerial correction date of answer 08/12/2020 answer text <p>The temporary reduced rate of VAT was introduced on 15 July in order to support the cash flow and viability of over 150,000 businesses and protect 2.4 million jobs in the hospitality and tourism sectors, and will run until 31 March 2021. This relief comes at a significant cost to the Exchequer, and there are currently no plans to extend the scope to include other sectors.</p><p> </p><p>The Government has announced a significant package of support to help businesses through the winter months, which includes an extension of the Coronavirus Job Retention Scheme, an extension of the Self-Employment Income Support Scheme grant, and an extension of the application window for the Government-backed loan schemes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 08/12/2020 12:12:38 answering member 3991 label Biography information for Jesse Norman
tabling member	4432 label Biography information for Patrick Grady