HM Treasury
HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)
Conservative
Mel Stride (Con - Central Devon)Shadow Chancellor of the Exchequer
Green Party
Adrian Ramsay (Green - Waveney Valley)Green Spokesperson (Treasury)
Liberal Democrat
Charlie Maynard (LD - Witney)Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
16:06
Written Evidence
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, with reference to the Memorandum of Understanding: accessing HMRC information to assist honours …
This Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (“the Regulated Activities Order”). …
14:36
This Bill will be published after the House’s decisions on the Budget Resolutions.
16:20
News and Communications
HM Treasury Commons Appearances
Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs
Other Commons Chamber appearances can be:- Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
- Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
- Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.
Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue
Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
HM Treasury - Secondary Legislation
Petitions
e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.
If an e-petition reaches 10,000 signatures the Government will issue a written response.
If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).
(5,754 in the last 7 days)
(1,472 in the last 7 days)
(1,419 in the last 7 days)
(393 in the last 7 days)
(179 in the last 7 days)
(1,419 in the last 7 days)
(5,754 in the last 7 days)
(124 in the last 7 days)
(94 in the last 7 days)
(1,472 in the last 7 days)
Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 5 months, 1 week ago
Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 6 months, 2 weeks ago
We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 5 months, 3 weeks ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
Departmental Select Committee
Treasury Committee
Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.
At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.
Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.
11 Members of the Treasury Committee
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Budget 2025
1 Dec 2025, 1:30 p.m.
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Treasury Committee - Oral evidence
Budget 2025
2 Dec 2025, 9:45 a.m.
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Treasury Committee - Oral evidence
Budget 2025
3 Dec 2025, 2 p.m.
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Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)Under the published Memorandum of Understanding (MOU), HMRC will commission reports on the tax behaviour of nominees. The reports and risk ratings are retained in line with HMRC’s data retention policy, as set out in the MOU. Deliberations are not minuted, but the framework for decision making is published with the MOU.
Exchequer Secretary (HM Treasury)
HMRC does not have information readily available identifying the nationality of staff working on specific telephone enquiry lines. Obtaining this information would require a manual process which would exceed the cost threshold for answering parliamentary questions.
Exchequer Secretary (HM Treasury)
HMRC does not have information readily available identifying the nationality of staff working on specific telephone enquiry lines. Obtaining this information would require a manual process which would exceed the cost threshold for answering parliamentary questions.
Exchequer Secretary (HM Treasury)
The Chancellor has not commissioned any analysis from HMRC on the tax contribution of the ONS estimate of 257,000 British nationals who left the UK in 2024.
Exchequer Secretary (HM Treasury)
All council tax due on the Chancellor’s Ministerial residence has been paid in full.
Economic Secretary (HM Treasury)
Child Benefit remains in payment until 31 August following a child’s 16th birthday. This applies without any conditions on education, so there is no impact on children of this age if they are unable to attend school for any reason.
For young people who are over 16 and under 20, Child Benefit remains payable if they continue in full-time non-advanced education or training. Legislation allows for Child Benefit to continue being paid when this education is interrupted. This can be for a period of up to six months, or for as long as is reasonable if it is attributable to the illness or disability of mind or body. Child Benefit can also still be paid in respect of young people who cannot attend education for an average of more than 12 hours per week due to an illness or disability.
The Government does not hold data on the number of families where Child Benefit has stopped because a young person over 16 has not been able to attend education due to mental ill health.
Where a young person is unable to return to education because of mental ill-health or trauma, disability benefits may provide a more suitable form of long-term support.
Chief Secretary to the Treasury
Child Benefit remains in payment until 31 August following a child’s 16th birthday. This applies without any conditions on education, so there is no impact on children of this age if they are unable to attend school for any reason.
For young people who are over 16 and under 20, Child Benefit remains payable if they continue in full-time non-advanced education or training. Legislation allows for Child Benefit to continue being paid when this education is interrupted. This can be for a period of up to six months, or for as long as is reasonable if it is attributable to the illness or disability of mind or body. Child Benefit can also still be paid in respect of young people who cannot attend education for an average of more than 12 hours per week due to an illness or disability.
The Government does not hold data on the number of families where Child Benefit has stopped because a young person over 16 has not been able to attend education due to mental ill health.
Where a young person is unable to return to education because of mental ill-health or trauma, disability benefits may provide a more suitable form of long-term support.
Chief Secretary to the Treasury
Child Benefit remains in payment until 31 August following a child’s 16th birthday. This applies without any conditions on education, so there is no impact on children of this age if they are unable to attend school for any reason.
For young people who are over 16 and under 20, Child Benefit remains payable if they continue in full-time non-advanced education or training. Legislation allows for Child Benefit to continue being paid when this education is interrupted. This can be for a period of up to six months, or for as long as is reasonable if it is attributable to the illness or disability of mind or body. Child Benefit can also still be paid in respect of young people who cannot attend education for an average of more than 12 hours per week due to an illness or disability.
The Government does not hold data on the number of families where Child Benefit has stopped because a young person over 16 has not been able to attend education due to mental ill health.
Where a young person is unable to return to education because of mental ill-health or trauma, disability benefits may provide a more suitable form of long-term support.
Chief Secretary to the Treasury
Child Benefit remains in payment until 31 August following a child’s 16th birthday. This applies without any conditions on education, so there is no impact on children of this age if they are unable to attend school for any reason.
For young people who are over 16 and under 20, Child Benefit remains payable if they continue in full-time non-advanced education or training. Legislation allows for Child Benefit to continue being paid when this education is interrupted. This can be for a period of up to six months, or for as long as is reasonable if it is attributable to the illness or disability of mind or body. Child Benefit can also still be paid in respect of young people who cannot attend education for an average of more than 12 hours per week due to an illness or disability.
The Government does not hold data on the number of families where Child Benefit has stopped because a young person over 16 has not been able to attend education due to mental ill health.
Where a young person is unable to return to education because of mental ill-health or trauma, disability benefits may provide a more suitable form of long-term support.
Chief Secretary to the Treasury
Estimates of Income Tax relief on pension contributions can be found in Table 6 of the Private Pension Statistics publication. [1]
Table 6 summary: Estimated cost of pension Income Tax and National Insurance contribution (NIC) relief (£million) | |||
| 2021 to 2022 tax year [revised] | 2022 to 2023 tax year [revised] | 2023 to 2024 tax year [provisional] |
Total pension Income Tax relief | 45,300 | 47,800 | 54,200 |
- of which on Net Pay Arrangement contributions by employees | 5,100 | 5,500 | 6,200 |
- of which on Net Pay Arrangement contributions by employers | 16,100 | 17,400 | 20,800 |
- of which on Relief at Source scheme contributions by employees | 3,600 | 3,900 | 4,400 |
- of which on Relief at Source scheme contributions by self-employed individuals | 800 | 800 | 1,000 |
- of which on Relief at Source scheme contributions by employers | 5,900 | 6,700 | 8,100 |
- of which on Salary Sacrificed contributions by employees | 5,100 | 6,000 | 7,200 |
- of which on Deficit Reduction Contributions by employers | 4,300 | 3,100 | 2,100 |
Figures are in £ million and rounded to the nearest £100 million.
The column totals may not equal the sum of the individual components due to rounding.
HMRC does not hold data on the cost of the tax exemption of capital gains in pension funds.
[1] This publication can be access via the following link: https://www.gov.uk/government/statistics/personal-and-stakeholder-pensions-statistics
Financial Secretary (HM Treasury)
Exchequer Secretary (HM Treasury)
Economic growth is the central mission of the government. We work closely with the Welsh Government to ensure that Wales, like all parts of the United Kingdom, plays a full part in this mission and benefits from our modern Industrial Strategy, with higher living standards delivered across the country.
As part of this mission, the government is investing in projects that will drive growth across Wales. Alongside rail commitments announced at the last Spending Review, we have recently announced that Anglesey in North Wales will pioneer the UK’s first small modular reactors at Wylfa, with £2.5 billion of UK Government funding. This represents the most significant industrial investment in North Wales in a generation. The project is expected to support up to 3,000 jobs at peak construction and provide power for up to three million homes. Alongside this announcement, we have designated a new AI Growth Zone at the Anglesey Freeport, as well as another in South Wales.
Financial Secretary (HM Treasury)
Ministers from several Government departments have met with organisations including the National Farmers’ Union, the Tenant Farmers’ Association, the Country Land and Business Association, the Central Association of Agricultural Valuers, the Ulster Farmers’ Union, NFU Cymru, NFU Scotland and the Farmers’ Union of Wales.
Financial Secretary (HM Treasury)
The Government keeps all taxes under review as part of the policy making process. The Chancellor will announce any changes to the tax system at fiscal events in the usual way.
Financial Secretary (HM Treasury)
There are several facilitations available to businesses moving goods within the UK Internal Market System. Businesses can choose to make use of Simplified Customs Declaration Processes (SCDP), such as the Entry in Declarants Records (EIDR) process when moving goods into Northern Ireland. This allows businesses to have up until the 10th calendar day of the month following the goods entering Northern Ireland to submit a supplementary declaration. HMRC cannot provide the number of unclosed supplementary declarations as HMRC does not have direct access to all traders’ records that make use of EIDR. HMRC continues to support businesses to comply with their legal obligations.
Exchequer Secretary (HM Treasury)
HMRC does not collect data on statutory paternity leave or shared parental leave. HMRC does collect data on statutory paternity pay and shared parental pay which may closely approximate leave in both cases.
HMRC also holds data on economic sector, but to match the two together would be a significant analytical task and so the relevant data could only be collated and verified for the purpose of answering this question at disproportionate cost.
Exchequer Secretary (HM Treasury)
I refer my honourable friend to the answers I provided on the topic of SME lending on 23 October, and more recently in relation to the rate of short-term lending to small and medium sized businesses in the UK.
Interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial decisions, and SMEs should should shop around to find the product that best suits their needs when choosing finance, which in turn helps drives competition, improves choice, and may support pricing.
More widely, case complaints are a matter for the Financial Ombudsman Service rather than the Government, where the Treasury receives correspondence across a wide variety of subjects including financial services. While we are not able to measure the number of complaints the department receives in relation to high-cost credit for business loans (or in relation to an individual provider), the volume of correspondence on the cost of credit in relation to business loans, is generally low.
Economic Secretary (HM Treasury)
I refer my honourable friend to the answers I provided on the topic of SME lending on 23 October, and more recently in relation to the rate of short-term lending to small and medium sized businesses in the UK.
Interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial decisions, and SMEs should should shop around to find the product that best suits their needs when choosing finance, which in turn helps drives competition, improves choice, and may support pricing.
More widely, case complaints are a matter for the Financial Ombudsman Service rather than the Government, where the Treasury receives correspondence across a wide variety of subjects including financial services. While we are not able to measure the number of complaints the department receives in relation to high-cost credit for business loans (or in relation to an individual provider), the volume of correspondence on the cost of credit in relation to business loans, is generally low.
Economic Secretary (HM Treasury)
Government Ministers regularly meet with businesses and business representation organisations from a range of sectors, including the chemical sector. They remain open to further engagement with the sector including on ways to bolster growth, trade and investment.
Economic Secretary (HM Treasury)
HMRC’s Chief Executive wrote to the Treasury Select Committee on 14 November 2025 about this matter including the corrective action that HMRC is taking. This letter was subsequently published by the Committee on 18 November 2025. There are no plans to publish a report.
In the response to the Treasury Select Committee, HMRC provided figures for those customers subsequently confirmed as eligible through a PAYE check or customer contact up to and including 31 October 2025. This time period reflects that figures are only validated after the month end.
Where there was evidence that customers had continued UK employment, HMRC reinstated payments automatically without any need for customer contact and those payments have been backdated. By the end of November 2025, HMRC will have written to all customers who have not yet contacted them to provide a further 4 weeks in which to make contact.
HMRC holds information by postal address although HMRC would be unable to release to such a granular level due to the risk of breaching taxpayer confidentiality.
HMRC’s pilot last year using international travel data prevented around £17m in incorrect payments. This led to a wider rollout and investment in an additional 180 counter-fraud staff, announced at the Autumn Budget 2024, which is expected to save around £350 million over the next five years.
Exchequer Secretary (HM Treasury)
HMRC’s Chief Executive wrote to the Treasury Select Committee on 14 November 2025 about this matter including the corrective action that HMRC is taking. This letter was subsequently published by the Committee on 18 November 2025. There are no plans to publish a report.
In the response to the Treasury Select Committee, HMRC provided figures for those customers subsequently confirmed as eligible through a PAYE check or customer contact up to and including 31 October 2025. This time period reflects that figures are only validated after the month end.
Where there was evidence that customers had continued UK employment, HMRC reinstated payments automatically without any need for customer contact and those payments have been backdated. By the end of November 2025, HMRC will have written to all customers who have not yet contacted them to provide a further 4 weeks in which to make contact.
HMRC holds information by postal address although HMRC would be unable to release to such a granular level due to the risk of breaching taxpayer confidentiality.
HMRC’s pilot last year using international travel data prevented around £17m in incorrect payments. This led to a wider rollout and investment in an additional 180 counter-fraud staff, announced at the Autumn Budget 2024, which is expected to save around £350 million over the next five years.
Exchequer Secretary (HM Treasury)
HMRC’s Chief Executive wrote to the Treasury Select Committee on 14 November 2025 about this matter including the corrective action that HMRC is taking. This letter was subsequently published by the Committee on 18 November 2025. There are no plans to publish a report.
In the response to the Treasury Select Committee, HMRC provided figures for those customers subsequently confirmed as eligible through a PAYE check or customer contact up to and including 31 October 2025. This time period reflects that figures are only validated after the month end.
Where there was evidence that customers had continued UK employment, HMRC reinstated payments automatically without any need for customer contact and those payments have been backdated. By the end of November 2025, HMRC will have written to all customers who have not yet contacted them to provide a further 4 weeks in which to make contact.
HMRC holds information by postal address although HMRC would be unable to release to such a granular level due to the risk of breaching taxpayer confidentiality.
HMRC’s pilot last year using international travel data prevented around £17m in incorrect payments. This led to a wider rollout and investment in an additional 180 counter-fraud staff, announced at the Autumn Budget 2024, which is expected to save around £350 million over the next five years.
Exchequer Secretary (HM Treasury)
HMRC’s Chief Executive wrote to the Treasury Select Committee on 14 November 2025 about this matter including the corrective action that HMRC is taking. This letter was subsequently published by the Committee on 18 November 2025. There are no plans to publish a report.
In the response to the Treasury Select Committee, HMRC provided figures for those customers subsequently confirmed as eligible through a PAYE check or customer contact up to and including 31 October 2025. This time period reflects that figures are only validated after the month end.
Where there was evidence that customers had continued UK employment, HMRC reinstated payments automatically without any need for customer contact and those payments have been backdated. By the end of November 2025, HMRC will have written to all customers who have not yet contacted them to provide a further 4 weeks in which to make contact.
HMRC holds information by postal address although HMRC would be unable to release to such a granular level due to the risk of breaching taxpayer confidentiality.
HMRC’s pilot last year using international travel data prevented around £17m in incorrect payments. This led to a wider rollout and investment in an additional 180 counter-fraud staff, announced at the Autumn Budget 2024, which is expected to save around £350 million over the next five years.
Exchequer Secretary (HM Treasury)
HMRC recently published research on benefits-in-kind and expenses. Of those employers surveyed, 41% of employers reimbursed mileage for employees using their own car for business travel, of which 37% reimbursed at the Approved Mileage Payment Rate and 4% at another rate.
The research report can be found here: Research with employers on Benefits in Kind and expenses - GOV.UK
Self-employed people are able to choose whether to use the simplified mileage rates or claim actual expenses and capital allowances for a vehicle. HMRC published research carried out in 2023 which showed that 29% of self-employed people who use vehicles in their business use the simplified mileage rates.
The research report was published on 28 May 2025 and can be found here: HMRC Mileage Rates Research - GOV.UK
Exchequer Secretary (HM Treasury)
HM Treasury does not centrally hold this data in an easily accessible form as there are no expenditure categories that just cover consultations or reviews. Due to this any response could only be collated and verified for the purposes of answering this question at disproportionate cost.
Exchequer Secretary (HM Treasury)
The existing business rates retail, hospitality and leisure (RHL) relief has been repeatedly extended year-on-year as a temporary stopgap measure. We recognise that this creates cliff-edges and uncertainty for businesses, as well as significant fiscal pressure.
Therefore, from April 2026, we are introducing permanently lower business rates multipliers for qualifying RHL properties with rateable values below £500,000. The Government recognises the importance of grassroots sports clubs and recreation and community organisations, with this permanent tax cut ensuring they and other RHL businesses benefit from much-needed certainty and support.
To fund these lower RHL multipliers sustainably, from April 2026, we are also introducing a higher multiplier on properties with RVs of £500,000 and above. The rates for the new multipliers will be set at Budget 2025 so that we can take into account the revaluation outcomes, as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis on the effects of the new multiplier arrangements.
Exchequer Secretary (HM Treasury)
The existing business rates retail, hospitality and leisure (RHL) relief has been repeatedly extended year-on-year as a temporary stopgap measure. We recognise that this creates cliff-edges and uncertainty for businesses, as well as significant fiscal pressure.
Therefore, from April 2026, we are introducing permanently lower business rates multipliers for qualifying RHL properties with rateable values below £500,000. The Government recognises the importance of grassroots sports clubs and recreation and community organisations, with this permanent tax cut ensuring they and other RHL businesses benefit from much-needed certainty and support.
To fund these lower RHL multipliers sustainably, from April 2026, we are also introducing a higher multiplier on properties with RVs of £500,000 and above. The rates for the new multipliers will be set at Budget 2025 so that we can take into account the revaluation outcomes, as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis on the effects of the new multiplier arrangements.
Exchequer Secretary (HM Treasury)
The existing business rates retail, hospitality and leisure (RHL) relief has been repeatedly extended year-on-year as a temporary stopgap measure. We recognise that this creates cliff-edges and uncertainty for businesses, as well as significant fiscal pressure.
Therefore, from April 2026, we are introducing permanently lower business rates multipliers for qualifying RHL properties with rateable values below £500,000. The Government recognises the importance of grassroots sports clubs and recreation and community organisations, with this permanent tax cut ensuring they and other RHL businesses benefit from much-needed certainty and support.
To fund these lower RHL multipliers sustainably, from April 2026, we are also introducing a higher multiplier on properties with RVs of £500,000 and above. The rates for the new multipliers will be set at Budget 2025 so that we can take into account the revaluation outcomes, as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis on the effects of the new multiplier arrangements.
Exchequer Secretary (HM Treasury)
HM Revenue and Customs (HMRC) is consistently exceeding its service standards of processing over 80% of inheritance tax returns for estates within 15 working days. Once these returns have been processed, most customers will be able to pay any inheritance tax due on time and proceed to apply for probate.
The inheritance tax helpline is also meeting HMRC’s telephony service levels by handling over 85% of customer calls to advisers.
HMRC has recently increased numbers deployed to wider inheritance tax work to ensure we meet or exceed those service standards.
Inheritance tax on estates must be paid six months from the end of the month in which the death occurred, although customers can make payments on account if the final Inheritance Tax liability is not yet agreed, to reduce or avoid interest.
Late payment interest is charged whenever tax is paid late.
If an error or delay by HMRC has contributed to the late payment, customers may appeal the late payment interest.
The government announced at Autumn Budget 2024 that it is investing in digitalising the inheritance tax service from 2027-28 to provide a modern, easy-to-use system, making returns and paying tax simpler and quicker.
Exchequer Secretary (HM Treasury)
Please see the response to UIN 22711 here: https://questions-statements.parliament.uk/written-questions/detail/2025-01-08/22711
Exchequer Secretary (HM Treasury)
HMRC applies the law fairly and consistently in accordance with its published Litigation and Settlement Strategy (LSS). This ensures every taxpayer, no matter who they are, pays the tax due under the law.
Central to the LSS is that HMRC will not settle a dispute by agreement for an amount which is less than it would reasonably expect to obtain from litigation.
HMRC’s LSS can be found on gov.uk: www.gov.uk/government/publications/litigation-and-settlement-strategy-lss
Exchequer Secretary (HM Treasury)
The UK has an internationally competitive tax system.
The Government published its Corporate Tax Roadmap at Autumn Budget 2024, which included a commitment to ensuring a competitive and sustainable main rate of corporation tax by capping it at 25 per cent for the duration of this parliament. The current rate of corporation tax is the lowest in the G7, and this is supplemented by generous business investment tax reliefs which directly support investment, including Capital Allowances, R&D tax reliefs, and the Patent Box regime.
Exchequer Secretary (HM Treasury)
The Chancellor’s decisions on tax will be announced in the usual way at the Budget. We do not comment on tax speculation outside of fiscal events.
Exchequer Secretary (HM Treasury)
The vast majority of pensioners, around 9 million individuals, will benefit from Winter Fuel Payments this winter.
The Government has been clear that the Winter Fuel Payment should be means-tested on the basis of income. For higher income pensioners, those with an annual income of more than £35,000, the payment will be recovered via the tax system.
Estimates for winter 2025/26 are not available at the Parliamentary Constituency level.
Chief Secretary to the Treasury
As set out in the Chancellor’s Statement of Strategic Priorities to the National Wealth Fund, it should consider the role it can play in supporting the delivery of the wider Industrial Strategy, including in defence.
Chief Secretary to the Treasury
Dan Norris
(Independent - North East Somerset and Hanham)
On 1 April 2025, the National Living Wage (NLW) increased to £12.21 per hour for eligible workers aged 21 and over. This represents a pay rise of £1,400 per year for a full-time worker and has benefitted around 3 million low-paid workers. Living standards, as measured by Real Household Disposable Income (RHDI) per capita, are 2.1% higher than before the election. This means that the average person’s disposable income is £800 higher now than just before the election in real terms.
Chief Secretary to the Treasury
Child Benefit is a payment made to individuals who are responsible for a child or children irrespective of the child’s nationality. No Recourse to Public Funds (NRPF) is a standard condition applied to most categories of temporary immigration permission. Those with NRPF do not generally have access to public funds, including Child Benefit. The expectation of the Government is that in general migrants coming into the UK should be able to maintain and accommodate themselves and their dependents without recourse to public funds.
Chief Secretary to the Treasury
At Autumn Budget 2024, the Chancellor agreed to provide funding to the public sector to support them with the additional cost associated with changes to employer National Insurance Contributions policy.
The Welsh Government received £185 million of this support through the Barnett formula. This is the normal operation of the funding arrangements as set out in the Statement of Funding Policy. It is for the Welsh Government to allocate this funding in devolved areas including funding for local authorities as it sees fit, reflecting its own priorities and local circumstances, and it is accountable to the Senedd for these decisions.
HM Treasury ministers regularly engage with their Welsh Government counterparts, including through forums such as the Finance: Interministerial Standing Committee (F:ISC), to discuss a range of issues affecting Wales, including the impact of changes to employer National Insurance contributions on Welsh Government funding. The most recent F:ISC was on 17 October where these topics were discussed.
Chief Secretary to the Treasury
At Autumn Budget 2024, the Chancellor agreed to provide funding to the public sector to support them with the additional cost associated with changes to employer National Insurance Contributions policy.
The Welsh Government received £185 million of this support through the Barnett formula. This is the normal operation of the funding arrangements as set out in the Statement of Funding Policy. It is for the Welsh Government to allocate this funding in devolved areas including funding for local authorities as it sees fit, reflecting its own priorities and local circumstances, and it is accountable to the Senedd for these decisions.
HM Treasury ministers regularly engage with their Welsh Government counterparts, including through forums such as the Finance: Interministerial Standing Committee (F:ISC), to discuss a range of issues affecting Wales, including the impact of changes to employer National Insurance contributions on Welsh Government funding. The most recent F:ISC was on 17 October where these topics were discussed.
Chief Secretary to the Treasury
At Autumn Budget 2024, the Chancellor agreed to provide funding to the public sector to support them with the additional cost associated with changes to employer National Insurance Contributions policy.
The Welsh Government received £185 million of this support through the Barnett formula. This is the normal operation of the funding arrangements as set out in the Statement of Funding Policy. It is for the Welsh Government to allocate this funding in devolved areas including funding for local authorities as it sees fit, reflecting its own priorities and local circumstances, and it is accountable to the Senedd for these decisions.
HM Treasury ministers regularly engage with their Welsh Government counterparts, including through forums such as the Finance: Interministerial Standing Committee (F:ISC), to discuss a range of issues affecting Wales, including the impact of changes to employer National Insurance contributions on Welsh Government funding. The most recent F:ISC was on 17 October where these topics were discussed.
Chief Secretary to the Treasury
Receipts data for the Apprenticeship Levy is published by HM Revenue and Customs in their Tax and NIC Receipts publication which can be found online at:
https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk
HMRC does not require or collect data on where in the UK the economic activities occurs in order to collect the Apprenticeship Levy.
Receipts data based on company registered addresses do not necessarily reflect where liabilities are accrued. For example, the data on receipts from companies with registered addresses in Wales will not include businesses registered in Northern Ireland, Scotland, or England, who have a presence and pay employees in Wales.
Chief Secretary to the Treasury
HMRC did not directly access passenger name records held by the Home Office as part of its efforts to reduce Child Benefit non-compliance. The process involves HMRC sharing a data set with the Home Office, which includes the Child Benefit claimant’s name. Matches returned by the Home Office also include the Child Benefit claimant’s name. Both data sets were assessed and agreed for data minimisation purposes.
Exchequer Secretary (HM Treasury)
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.
The hospitality sector makes significant contribution the exchequer, the UK economy, and society and we are determined to support hospitality businesses to succeed.
The Government protected the smallest hospitality businesses from the recent changes to employer National Insurance by increasing the Employment Allowance to £10,500.
We have also taken a number of other steps to support the hospitality industry. This includes:
- Introducing a permanently lower business rates multiplier for retail, hospitality, and leisure (RHL) properties with rateable values below £500,000 from 2026-27. Ahead of the new multipliers being introduced, the government extended the RHL relief for 2025-26 at 40 per cent up to a cash cap of £110,000 per business and frozen the small business multiplier.
- Establishing the Licensing Taskforce and issuing a call for evidence on a National Licensing Policy Framework which will set out national direction for licensing authorities to consider economic growth and cultural value,
- Protecting hospitality businesses from upward only rent clauses through the English Devolution Bill, and;
- Introducing a strong new ‘Community Right to Buy’ to help communities safeguard valued community assets – such as pubs.
Exchequer Secretary (HM Treasury)
Information on Child Trust Funds is available in HMRC’s Annual Savings Statistics.
https://www.gov.uk/government/statistics/annual-savings-statistics-2025
We cannot answer each element of the 2 questions as HMRC does not receive a breakdown of unclaimed matured Child Trust Fund accounts from providers. This means we can’t identify which CTFs have been HMRC allocated and transferred into ISAs, nor breakdown the figures shared in the press release on the 30th September.
Economic Secretary (HM Treasury)
Information on Child Trust Funds is available in HMRC’s Annual Savings Statistics.
https://www.gov.uk/government/statistics/annual-savings-statistics-2025
We cannot answer each element of the 2 questions as HMRC does not receive a breakdown of unclaimed matured Child Trust Fund accounts from providers. This means we can’t identify which CTFs have been HMRC allocated and transferred into ISAs, nor breakdown the figures shared in the press release on the 30th September.
Economic Secretary (HM Treasury)
At Autumn Budget 2024, the government assessed the expected impact of the proposed changes to Employee Car Ownership Schemes (ECOS) on the 1,900 medium and large companies within the motor manufacture and motor dealership industries.
That analysis suggested that while there may be changes in consumer behavior in response to the proposed changes to the ECOS, including a possible shift towards used vehicles, the overall impact on new car registrations and associated tax revenues was expected to be limited.
The costing and the tax impact and information note will be updated at a future fiscal event to reflect the six-month delay to the originally announced implementation date.
Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the government assessed the expected impact of the proposed changes to Employee Car Ownership Schemes (ECOS) on the 1,900 medium and large companies within the motor manufacture and motor dealership industries.
That analysis suggested that while there may be changes in consumer behavior in response to the proposed changes to the ECOS, including a possible shift towards used vehicles, the overall impact on new car registrations and associated tax revenues was expected to be limited.
The costing and the tax impact and information note will be updated at a future fiscal event to reflect the six-month delay to the originally announced implementation date.
Exchequer Secretary (HM Treasury)
The Government recognises the significant contribution made by hospitality businesses to economic growth and social life in the UK.
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK's second largest tax, forecast to raise £180 billion in 2025/26. Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer.
Where pubs incur VAT in producing the food they sell, this can be claimed back in the normal way, provided that they are registered for VAT. Businesses with a turnover below the £90,000 per year threshold may choose not to register for VAT, in which case they do not charge VAT on their sales and cannot reclaim it on their input costs.
HMRC estimate that the cost of a 5 per cent reduced rate for accommodation, hospitality and tourist attractions would be around £13 billion this financial year. If the scope were also to include alcoholic beverages, the cost would be approximately £3 billion greater.
Exchequer Secretary (HM Treasury)
Economic Secretary (HM Treasury)