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  • Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Gregory Campbell on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, if he will make it his policy to extend the rural fuel duty rebate scheme to parts of Northern Ireland where cheaper fuel is readily available from the Irish Republic.

    Damian Hinds

    The rebate is only available for communities that meet specific quantified criteria of distance from refineries, with above average pump prices and low population densities. No areas in Northern Ireland were found to meet the full selection criteria. There are currently no plans to extend the scheme beyond the qualifying areas.

  • Kit Malthouse – 2016 Parliamentary Question to the HM Treasury

    Kit Malthouse – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Kit Malthouse on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 26 January 2016 to Question 22515, if he will estimate the amount paid out in supplements following the late payment of VAT returns in (a) 2015-16 and (b) each of the previous 10 years.

    Mr David Gauke

    The following table shows HM Revenue and Customs’ (HMRC) estimates of the total amount of Repayment Supplement it has paid on VAT repayments. The estimates draw on management information that is available from 2010-11 onwards.

    .

    Date

    Total VAT repayment supplement

    2015-16 (to 31.12.15)

    £9.0m

    2014-15

    £14.2m

    2013-14

    £15.0m

    2012-13

    £10.9m*

    2011-12

    £11.8m*

    2010-11

    £6.7m*

    * In order to provide a more meaningful time series of data, totals for 10-11, 11-12 and 12-13 include estimated amounts from within total payments of £12.1m that relate to accounting periods in these years but were not paid until 2015, following discovery of a systems error.

    In 2014-15, HMRC paid Repayment Supplement in 0.3% of all cases.

    In the first half of 2015-16, HMRC carried out an extensive review of its repayment process with a view to minimising delays in cases where repayments are not authorised automatically. Following the review, new processes have been introduced and HMRC expects to reduce the incidence of Repayment Supplement as a result.

  • Angela Crawley – 2016 Parliamentary Question to the HM Treasury

    Angela Crawley – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Angela Crawley on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, how many lone parents have received letters from Concentrix since 1 January 2015 questioning their reported living arrangements and requesting proof that they are not cohabiting in order to assess their continued eligibility to receive tax credits.

    Mr David Gauke

    HM Revenue and Customs (HMRC) routinely carries out checks on tax credits claims to make sure people are receiving the right amount of money and identify fraudulent claims. Since November 2014, Concentrix has been carrying out routine tax credit checks on behalf of HMRC, in addition to the checks HMRC carry out themselves. There are more than 4 million tax credit claimants overall.

    From the number of claimants contacted by Concentrix, HMRC and Concentrix do not categorise data under the heading of lone parent cases.

  • Jim Shannon – 2016 Parliamentary Question to the HM Treasury

    Jim Shannon – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jim Shannon on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what discussions he has had with his Chinese counterpart on developments in the stock market in that country.

    Harriett Baldwin

    The Chancellor, as well as other HM Treasury ministers and officials regularly meet with their international counterparts to discuss a range of issues, including economic developments in China.

    As the Chancellor said during his trip to China in September 2015, the UK should “support and encourage China on this journey of economic change… Both Britain and China also recognise the importance of rebalancing our economies. It’s another way we can partner each other on the journey ahead… As the home to the world’s global financial centre, Britain can support China’s important financial reforms”.

  • Jim Shannon – 2016 Parliamentary Question to the HM Treasury

    Jim Shannon – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jim Shannon on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what steps he is taking to minimise the risk of future bank failures.

    Harriett Baldwin

    Since the financial crisis, the government has taken a number of steps to improve the regulation of banks. The Financial Services Act 2012 overhauled the regulatory architecture, putting the Bank of England in charge of prudential supervision, and establishing the Financial Policy Committee to monitor and take action in respect of macroprudential risks.

    The government has implemented further reforms, including legislating through the Financial Services (Banking Reform) Act 2013 for the “ring-fencing” regime to separate banks’ riskier investment activities from their retail banking activities. The government has implemented the Bank Recovery and Resolution Directive, ensuring the Bank of England has the tools to resolve banks.

  • Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Tom Tugendhat on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what steps his Department has taken to measure the annual cost of commission and other charges levied on individual private pension plans by financial advisers in the last five years.

    Harriett Baldwin

    Adviser remuneration is regulated by the Financial Conduct Authority (FCA). Through the Retail Distribution Review (RDR), introduced at the end of 2012, the FCA has taken a number of steps to ensure that adviser remuneration on retail investment business is disclosed in advance of any services required. Product providers no longer have any influence over the remuneration received for advising on investments. Where commission remains on investments sold prior to the RDR, this will have been disclosed as required by the rules in force at the time the product was sold.

  • Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Tom Tugendhat on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what steps his Department has taken to ensure transparency of commission and other charges levied by financial advisers during the sale of financial products to individuals.

    Harriett Baldwin

    Adviser remuneration is regulated by the Financial Conduct Authority (FCA). Through the Retail Distribution Review (RDR), introduced at the end of 2012, the FCA has taken a number of steps to ensure that adviser remuneration on retail investment business is disclosed in advance of any services required. Product providers no longer have any influence over the remuneration received for advising on investments. Where commission remains on investments sold prior to the RDR, this will have been disclosed as required by the rules in force at the time the product was sold.

  • Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Tom Tugendhat on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what steps his Department has taken to ensure transparency of commission and other charges levied by financial advisers on individual pension plans.

    Harriett Baldwin

    Adviser remuneration is regulated by the Financial Conduct Authority (FCA). Through the Retail Distribution Review (RDR), introduced at the end of 2012, the FCA has taken a number of steps to ensure that adviser remuneration on retail investment business is disclosed in advance of any services required. Product providers no longer have any influence over the remuneration received for advising on investments. Where commission remains on investments sold prior to the RDR, this will have been disclosed as required by the rules in force at the time the product was sold.

  • Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    Tom Tugendhat – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Tom Tugendhat on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, what information his Department holds on the annual cost of commission and other charges levied by financial advisers during the sale of financial products to individuals in the last five years.

    Harriett Baldwin

    Adviser remuneration is regulated by the Financial Conduct Authority (FCA). Through the Retail Distribution Review (RDR), introduced at the end of 2012, the FCA has taken a number of steps to ensure that adviser remuneration on retail investment business is disclosed in advance of any services required. Product providers no longer have any influence over the remuneration received for advising on investments. Where commission remains on investments sold prior to the RDR, this will have been disclosed as required by the rules in force at the time the product was sold.

  • Paul Flynn – 2016 Parliamentary Question to the HM Treasury

    Paul Flynn – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Paul Flynn on 2016-01-27.

    To ask Mr Chancellor of the Exchequer, which companies have had meetings with Ministers of his Department since May 2015 to discuss those companies’ tax status.

    Mr David Gauke

    Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.

    Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available on Gov.uk.