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  • Louise Haigh – 2015 Parliamentary Question to the HM Treasury

    Louise Haigh – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Louise Haigh on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, if he will ensure that save-as-you-earn and share incentive plan savings limits are increased in line with inflation on an annual basis.

    Mr David Gauke

    The tax-advantaged Save As You Earn (SAYE) and Share Incentive Plan (SIP) limits were significantly increased from April 2014. The increases the Government have made are reasonable, given the average monthly SAYE savings and the value of awards currently made to employees under SIP, and they represent the best use of resources. The Government will continue to keep the SAYE and SIP limits under review.

    In addition to increasing the SAYE and SIP limits, the rules of the schemes were substantially reviewed and simplified following the recommendations made by the Office of Tax Simplification in March 2012. Last year, the requirement that these schemes must be approved by HM Revenue and Customs to qualify for favourable tax treatment was replaced by self-certification. Coupled with other changes to simplify some technical aspects of the rules, this will make these schemes more attractive to businesses and employees.

    No data is collected and no estimates are made of the income levels of the participants in SAYE schemes.

    Permitting private equity backed companies to offer all-employee tax advantaged schemes would be likely to involve significant changes to the rules of the schemes, and there would be a number of other factors to consider carefully, including the increased cost and complexity of any extension.

  • Louise Haigh – 2015 Parliamentary Question to the HM Treasury

    Louise Haigh – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Louise Haigh on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, what steps he is taking to increase participation in all-employee tax-advantaged share plans; and if he will make a statement.

    Mr David Gauke

    The tax-advantaged Save As You Earn (SAYE) and Share Incentive Plan (SIP) limits were significantly increased from April 2014. The increases the Government have made are reasonable, given the average monthly SAYE savings and the value of awards currently made to employees under SIP, and they represent the best use of resources. The Government will continue to keep the SAYE and SIP limits under review.

    In addition to increasing the SAYE and SIP limits, the rules of the schemes were substantially reviewed and simplified following the recommendations made by the Office of Tax Simplification in March 2012. Last year, the requirement that these schemes must be approved by HM Revenue and Customs to qualify for favourable tax treatment was replaced by self-certification. Coupled with other changes to simplify some technical aspects of the rules, this will make these schemes more attractive to businesses and employees.

    No data is collected and no estimates are made of the income levels of the participants in SAYE schemes.

    Permitting private equity backed companies to offer all-employee tax advantaged schemes would be likely to involve significant changes to the rules of the schemes, and there would be a number of other factors to consider carefully, including the increased cost and complexity of any extension.

  • Diana Johnson – 2015 Parliamentary Question to the HM Treasury

    Diana Johnson – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Diana Johnson on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, with reference to the 2013 Lough Erne G8 Leaders’ Communiqué, published on 18 June 2013, what progress has been made on implementing the commitments in paragraphs (a) 1, (b) 2, (c) 3, (d) 8 and (e) 10 of that document; and if he will make a statement.

    Mr David Gauke

    An update on UK progress of commitments in the G8 Lough Erne Leaders Communique can be found in the 2013 UK G8 Presidency Report, published on the Government’s website at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271676/G8_report_WEB_FINAL.PDF

    Since then the Prime Minister has updated the House in June following the 2015 G7 summit. There has been significant progress on the Lough Erne commitments, including the finalisation of the Base Erosion and Profit Shifting package (further information published on the OECD website), agreeing global standards on Automatic Exchange of Information in taxation and furthering international free trade agreements.

    In addition, the G7 publishes an accountability report which monitors progress on the promises made on development. The last report was published in 2013, and the next one will be published next year under the Japanese presidency.

  • Christopher Chope – 2015 Parliamentary Question to the HM Treasury

    Christopher Chope – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Christopher Chope on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 21 October 2015 to Question 12791, on married people: tax allowances, what the best telephone number is for customers to use; and what rate that telephone line charges.

    Mr David Gauke

    People wanting to apply for Marriage Allowance by telephone should call HM Revenue and Customs’ helpline on 0300 200 3300. Call charges vary depending on the package provided by phone service providers, and further information can be found at GOV.UK.

  • Graham Jones – 2015 Parliamentary Question to the HM Treasury

    Graham Jones – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Graham Jones on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, how many independent tribunals have been brought to challenge mandatory reconsiderations of tax credits by Concentrix in each month since that company has been under contract with his Department.

    Damian Hinds

    The following table outlines the number of applications HM Revenue and Customs (HMRC) received from HM Court and Tribunal Service (HMCTS) as a result of a mandatory reconsideration decision made by Concentrix.

    Month

    Number of applications HMRC received from HMCTS following a mandatory reconsideration decision made by Concentrix

    March 2015

    3

    April 2015

    1

    May 2015

    6

    June 2015

    5

    July 2015

    3

    August 2015

    3

    September 2015

    19

    Prior to March 2015 HMRC did not receive any applications from HMCTS challenging a mandatory reconsideration decision made by Concentrix.

  • Graham Jones – 2015 Parliamentary Question to the HM Treasury

    Graham Jones – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Graham Jones on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 23 October 2015 to Question 12045, on tax credits, if he will publish that data in the form in which it is available.

    Mr David Gauke

    HM Revenue and Customs is now able to provide the data in the format requested.

    The table below shows the number of mandatory reconsiderations for tax credits undertaken by Synnex-Concentix UK Ltd since the start of the contract. The data is accurate as at 2 November 2015.

    Within Week

    Number

    One

    1,136

    Two

    133

    Three

    160

    Four

    117

    Five

    97

    Six

    94

    Seven

    89

    Eight

    70

    Nine

    44

    Ten

    38

    More than ten

    106

  • Stephen Timms – 2015 Parliamentary Question to the HM Treasury

    Stephen Timms – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Stephen Timms on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, what alternative sources of advice there are for people exercising pension freedoms who do not access Pension Wise guidance.

    Harriett Baldwin

    The government committed to providing free, impartial guidance through Pension Wise, to help people make informed and confident decisions about how they use their defined contribution pension savings in retirement. It is available online, via the telephone and face to face. As of 29 October 2015, there were over 20,000 completed appointments for face to face guidance and 9,000 completed appointments for telephone guidance as well as over 1.7 million visits to the website.

    Pension Wise runs exit surveys of those who have completed an appointment It is not mandatory for a user to complete an exit survey. The government is committed to being open and transparent with Pension Wise data and will be making core data readily available by placing it on the government performance platform this autumn. The data will be in the public domain and updated regularly. HM Treasury is working with Pension Wise delivery partners to provide the level of detail that we require for reporting purposes.

    The Financial Conduct Authority, in line with its remit to protect consumers and ensure markets function in consumers’ interests, is monitoring developments in the retirement income market closely and has committed to take action where consumers are coming to harm or where the market is not operating competitively.

    The government recognises that people may wish to consult different sources of information before reaching a decision about their retirement income. In addition to Pension Wise, The Pension Advisory Service (TPAS) provides independent, impartial information and guidance about pensions, free of charge, to members of the public. The Money Advice Service also provides free and unbiased information and guidance on all money matters.

    A number of pension providers offer financial guidance. Individuals can also access regulated advice from an Independent Financial Adviser (IFA). HM Treasury and the Financial Conduct Authority are jointly considering how financial advice could be made more accessible and affordable for consumers through the Financial Advice Market Review.

  • Jo Stevens – 2015 Parliamentary Question to the HM Treasury

    Jo Stevens – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jo Stevens on 2015-10-29.

    To ask Mr Chancellor of the Exchequer, how much HM Revenue and Customs spent on (a) IT systems and (b) cyber-security in (i) 2010-11, (ii) 2011-12, (iii) 2012-13, (iv) 2013-14, (v) 2014-15 and (vi) 2015-16 to date.

    Mr David Gauke

    Reference to HM Revenue and Customs (HMRC) spending on IT systems can be found within its Annual Report and Accounts, under the Chief Digital and Information Officer Group. For the 2014/15 Annual Report and Accounts, this is on page 145.

    HMRC’s spending on cyber security work is incorporated within the headline IT expenditure figure.

  • Louise Haigh – 2015 Parliamentary Question to the Cabinet Office

    Louise Haigh – 2015 Parliamentary Question to the Cabinet Office

    The below Parliamentary question was asked by Louise Haigh on 2015-10-29.

    To ask the Minister for the Cabinet Office, what steps he plans to take to contact people whose personal details have been stolen as a result of the cyber-security breach of the Government Gateway system.

    Matthew Hancock

    To date the security reports on the Government Gateway system do not show a cyber-security breach.

  • Louise Haigh – 2015 Parliamentary Question to the Cabinet Office

    Louise Haigh – 2015 Parliamentary Question to the Cabinet Office

    The below Parliamentary question was asked by Louise Haigh on 2015-10-29.

    To ask the Minister for the Cabinet Office, what information his Department holds on the potential sale of information stolen during the cyber-security breach of the Government Gateway system.

    Matthew Hancock

    To date the security reports on the Government Gateway system do not show a cyber-security breach.