The temporary reduced rate of VAT was introduced on 15 July to support the cash flow and viability of about 150,000 businesses and to protect over 2.4 million jobs in the hospitality and tourism sectors. As announced at Budget, this relief will now run until 31 March 2022, with a staggered return to the standard rate. Applying this relief permanently would come at a significant cost to the Exchequer, and that cost would have to be balanced by increased taxes elsewhere, or reductions in Government spending.<\/p>
<\/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" : "2021-03-09", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-09T12:45:58.15Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-03-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Hospitality Industry and Tourism: VAT"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "If his Department will make an assessment of the potential merits of making permanent the five per cent reduced rate of VAT for the tourism and hospitality sector.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1442", "label" : {"_value" : "Biography information for Mr Alistair Carmichael"} } , "tablingMemberConstituency" : {"_value" : "Orkney and Shetland"} , "tablingMemberPrinted" : [{"_value" : "Mr Alistair Carmichael"} ], "uin" : "913203"} , {"_about" : "http://data.parliament.uk/resources/1300694", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1300694/answer", "answerText" : {"_value" : "
Banks, building societies and other financial institutions are required to provide a variety of information returns to HM Revenue and Customs (HMRC) on an accurate and timely basis. They are subject to HMRC\u2019s usual compliance processes and if the information provided is late or found to be inaccurate following a compliance check, the taxpayer may be subject to penalties.<\/p>
<\/p>
The UK\u2019s largest businesses, which includes many financial institutions, are subject to an enhanced risk review, as part of HMRC\u2019s Business Risk Review process.<\/p>
<\/p>
In addition to this, over 98% of banks and building societies are signatories to the Code of Practice on Taxation for Banks. Their commitments under the Code include complying with their tax obligations, which include providing accurate information to HMRC, as well as maintaining a transparent relationship with HMRC. If a signatory is found to be in breach of these commitments, HMRC are able to disclose this, naming the bank in their annual report on the Code.<\/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" : "2021-03-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-17T13:52:45.847Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-03-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Institutions: Disclosure of Information"} , "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 steps his Department has taken to ensure that banks, building societies and other financial institutions report accurate financial data to HMRC; and what redress is available in the event of financial institutions\u2019 non-compliance.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4786", "label" : {"_value" : "Biography information for Zarah Sultana"} } , "tablingMemberConstituency" : {"_value" : "Coventry South"} , "tablingMemberPrinted" : [{"_value" : "Zarah Sultana"} ], "uin" : "165686"} , {"_about" : "http://data.parliament.uk/resources/1300867", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1300867/answer", "answerText" : {"_value" : "
The Government announced at Budget 2021 that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant. The fourth SEISS grant, available to claim from late April, will be worth 80% of average trading profits, paid out in a single instalment covering three months\u2019 worth of annual profits, and capped at £7,500 in total. Further details of the fifth SEISS grant will be published in due course.<\/p>
<\/p>
Grants\u202fare\u202fnow\u202fbased on 2019-20 \u202ftax\u202freturns\u202fwhich is\u202fthe most up to date\u202finformation HMRC holds\u202ffor self-employed individuals.\u202fThis\u202fmeans that\u202fthe Government is\u202fnow in a position\u202fto provide\u202fsupport\u202fto hundreds of thousands of newly eligible self-employed individuals.<\/p>
Using these returns\u202frequires time to\u202fdeliver, due to the increased population and new data. Guidance\u202fon how\u202fto claim the fourth grant\u202fwill be\u202favailable in\u202fdue course.<\/p>
<\/p>
The SEISS\u202fand the Coronavirus Job Retention Scheme (CJRS) are very\u202fdifferent schemes. The CJRS pays for hours which are not worked, while SEISS\u202fclaimants can work while claiming. Furthermore, as the Chancellor announced, employers will be required to contribute\u202fto CJRS payments as the economy reopens.\u202f 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>
The SEISS is just one part of a wider package of support for the self-employed. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.<\/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" : "2021-03-17", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "165489"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-17T13:42:45.487Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-03-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Self-employment Income Support Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, for what reasons businesses eligible for the fifth self-employed grant announced in Budget 2021 will be eligible to claim the equivalent of 80 per cent of three months average trading profits capped at £7,500 when the grant period covers five months from May to September; and what plans he has to help meet lost income for the remaining two months.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3930", "label" : {"_value" : "Biography information for Caroline Lucas"} } , "tablingMemberConstituency" : {"_value" : "Brighton, Pavilion"} , "tablingMemberPrinted" : [{"_value" : "Caroline Lucas"} ], "uin" : "165488"} , {"_about" : "http://data.parliament.uk/resources/1300868", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1300868/answer", "answerText" : {"_value" : "
The Government announced at Budget 2021 that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant. The fourth SEISS grant, available to claim from late April, will be worth 80% of average trading profits, paid out in a single instalment covering three months\u2019 worth of annual profits, and capped at £7,500 in total. Further details of the fifth SEISS grant will be published in due course.<\/p>
<\/p>
Grants\u202fare\u202fnow\u202fbased on 2019-20 \u202ftax\u202freturns\u202fwhich is\u202fthe most up to date\u202finformation HMRC holds\u202ffor self-employed individuals.\u202fThis\u202fmeans that\u202fthe Government is\u202fnow in a position\u202fto provide\u202fsupport\u202fto hundreds of thousands of newly eligible self-employed individuals.<\/p>
Using these returns\u202frequires time to\u202fdeliver, due to the increased population and new data. Guidance\u202fon how\u202fto claim the fourth grant\u202fwill be\u202favailable in\u202fdue course.<\/p>
<\/p>
The SEISS\u202fand the Coronavirus Job Retention Scheme (CJRS) are very\u202fdifferent schemes. The CJRS pays for hours which are not worked, while SEISS\u202fclaimants can work while claiming. Furthermore, as the Chancellor announced, employers will be required to contribute\u202fto CJRS payments as the economy reopens.\u202f 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>
The SEISS is just one part of a wider package of support for the self-employed. The temporary £20 per week increase to the Universal Credit standard allowance has been extended for six months, and the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition, they may also have access to other elements of the package, including Restart Grants, the Recovery Loan scheme, business rates relief, and other business support schemes.<\/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" : "2021-03-17", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "165488"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-17T13:42:45.547Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-03-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Self-employment Income Support Scheme"} , "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 steps the Government is taking to provide financial support for people potentially eligible for the Self-Employed Income Support Scheme (SEISS) prior to being able to make a claim to either the fourth or fifth SEISS grants; and for what reasons that scheme does not deliver parity with the Coronavirus Job Retention Scheme with regard to the payment schedule.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3930", "label" : {"_value" : "Biography information for Caroline Lucas"} } , "tablingMemberConstituency" : {"_value" : "Brighton, Pavilion"} , "tablingMemberPrinted" : [{"_value" : "Caroline Lucas"} ], "uin" : "165489"} , {"_about" : "http://data.parliament.uk/resources/1300968", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1300968/answer", "answerText" : {"_value" : "
Budget 2021 announced that from 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will benefit from both the 130% super-deduction and a 50% first-year capital allowance.<\/p>
<\/p>
Expenditure on qualifying plant and machinery capital investments used by a company in the course of a trade can qualify for the relevant first-year allowance, including fibre cables. Software can also qualify for the super-deduction, provided the company makes an election to remove software from the intangible fixed assets regime. Expenditure on the learning and development of staff does not qualify for the super-deduction but is already an allowable expense for tax purposes.<\/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" : "2021-03-12", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-12T07:48:08.533Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-03-09", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Software: Capital Allowances"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether he plans to make investment in software eligible for the Super Deduction allowance.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4124", "label" : {"_value" : "Biography information for Chi Onwurah"} } , "tablingMemberConstituency" : {"_value" : "Newcastle upon Tyne Central"} , "tablingMemberPrinted" : [{"_value" : "Chi Onwurah"} ], "uin" : "165538"} , {"_about" : "http://data.parliament.uk/resources/1300970", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1300970/answer", "answerText" : {"_value" : "
The VOA publish staff numbers in their Annual Reports. Reports from 2016 onwards can be found at: https://bit.ly/3t9cTdg<\/a>.<\/p> <\/p>
<\/p><\/td> | Outstanding<\/p><\/td><\/tr> | ||||||||||||||||||||
New Assessments(1)<\/sup><\/p><\/td> 4,854<\/p><\/td><\/tr> of which had either a full, partial or external inspection in:<\/p><\/td> <\/p><\/td><\/tr> Jan 2019 - Dec 2019<\/p><\/td> -<\/p><\/td><\/tr> Jan 2020 - Mar 2020<\/p><\/td> -<\/p><\/td><\/tr> Apr 2020 - Dec 2020<\/p><\/td> 55<\/p><\/td><\/tr> <\/p><\/td> <\/p><\/td><\/tr> Reconstitution(1)<\/sup><\/p><\/td> 5,678<\/p><\/td><\/tr> of which had either a full, partial or external inspection in:<\/p><\/td> <\/p><\/td><\/tr> Jan 2019 - Dec 2019<\/p><\/td> 0<\/p><\/td><\/tr> Jan 2020 - Mar 2020<\/p><\/td> -<\/p><\/td><\/tr> Apr 2020 - Dec 2020<\/p><\/td> 12<\/p><\/td><\/tr><\/tbody><\/table> <\/p> (1) New Assessments and Reconstitutions represent all cases of these types in either a Check, Challenge or Assessment Review.<\/p> <\/p> For disclosure reasons, numbers above 0 and below 5 are denoted with a \u2018-\u2018.<\/p> <\/p> |