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.
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
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: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.
HM Treasury does not have Bills currently before Parliament
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.
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).
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025Raise 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.
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025We 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.
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
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.
The UK’s financial obligations under the UK-Mauritius Treaty can be found in the document ‘UK/Mauritius: Agreement concerning the Chagos Archipelago including Diego Garcia’, which is available on Gov.uk. Payments will be managed responsibly within the government’s fiscal framework and reported in annual accounts in the usual way. Obligations within MOD and FCDO budgets have been agreed through the recently published Spending Review. No payments will be made until the treaty is legally binding.
As set out in the Dear Accounting Officer letter DAO 02/25, the 2025 edition of Managing Public Money includes the following revisions and additions.
Income Tax and Corporation Tax do not apply to woodlands managed on a commercial basis and with a view to making profits. This treatment was introduced in 1988 to prevent high-income individuals sheltering other income from tax by setting it against expenditure on forestry.
Recent changes to stamp duty thresholds on 1 April 2025 were the result of policy introduced by the previous government. HMRC analysis estimates that there will be 4,000-6,000 fewer first-time buyer transactions per year between 2025/26-2029/30 as a result.
At Budget 2024, the Government increased the higher rates of Stamp Duty Land Tax (SDLT) for additional dwellings by two percentage points from 3% to 5%. This measure will help to ensure that those looking to move home, or purchase their first property, have a greater advantage over second home buyers, landlords, and companies purchasing residential property. The OBR certified costing estimates that increasing the higher rates of SDLT by two percentage points is expected to result in 130,000 additional transactions over the next five years by first-time buyers and other people buying a primary residence.
The estates of all individuals benefit from a £325,000 nil-rate band for inheritance tax. The residence nil-rate band is a further £175,000 and is available to those passing on a qualifying residence on death to their direct descendants, such as children or grandchildren. This means qualifying estates can pass on up to £500,000 and the qualifying estate of a surviving spouse or civil partner can pass on up to £1 million without an inheritance tax liability. This is because any unused nil-rate band or residence nil-rate band is transferable to a surviving spouse or civil partner.
The combination of nil-rate bands, exemptions, and reliefs means less than 10 per cent of estates across the UK are forecast to have an inheritance tax liability in 2029-30. However, inheritance tax still makes an important contribution to the public finances and it is now forecast to raise more than £14 billion in 2029-30 to help deliver public services. This includes over £2 billion more in 2029-30 from changes to the inheritance tax system announced at Autumn Budget 2024.
The volume of government gilt issuance is determined by the Office for Budget Responsibility forecast for cash borrowing, adjusted for redeeming gilts, any unanticipated under/over-financing in the previous financial year, and financing via other sources (such as National Savings & Investments).
Underlying demand for the UK’s debt remains robust, with a well-diversified investor base and the Debt Management Office’s gilt sales operations continue to see strong demand.
Insurance companies have fewer incentives to invest in gilts than Defined Benefit schemes, so insurance buyouts are expected to reduce demand from the sector over the longer term. This is well understood by the market. Gilts continue to offer benefits to insurance companies, though, and there are limits to the pace at which insurers can buy out pension funds.
Historically, we have seen changes in demand patterns from across the investor base. Overall demand has however remained resilient throughout these periods of changing investor patterns as a result of our policy of supporting a strong and diversified market. More generally, gilt yields are determined by a wide range of both domestic and international factors.
The volume of government gilt issuance is determined by the Office for Budget Responsibility forecast for cash borrowing, adjusted for redeeming gilts, any unanticipated under/over-financing in the previous financial year, and financing via other sources (such as National Savings & Investments).
Underlying demand for the UK’s debt remains robust, with a well-diversified investor base and the Debt Management Office’s gilt sales operations continue to see strong demand.
Insurance companies have fewer incentives to invest in gilts than Defined Benefit schemes, so insurance buyouts are expected to reduce demand from the sector over the longer term. This is well understood by the market. Gilts continue to offer benefits to insurance companies, though, and there are limits to the pace at which insurers can buy out pension funds.
Historically, we have seen changes in demand patterns from across the investor base. Overall demand has however remained resilient throughout these periods of changing investor patterns as a result of our policy of supporting a strong and diversified market. More generally, gilt yields are determined by a wide range of both domestic and international factors.
The government keeps the availability and cost of start-up and scale-up capital under close review. The government is taking action to ensure that UK businesses can access the capital they need to grow, and that the financial system supports innovation and economic growth.
The Chancellor’s remit letters put the Financial Conduct Authority and the Prudential Regulation Authority firmly at the heart of the Growth Mission, challenging them to go further to support growth and competitiveness. The letters made clear that there is an opportunity for more responsible and informed risk taking across the economy, and the government will support the regulators to enable this, including by facilitating innovation across the financial services sector.
Similarly, following a request in the Chancellor’s November 2024 remit letter to the Bank of England’s Financial Policy Committee, the BoE is working with HM Treasury and other authorities to assess how the financial system can better support sustainable economic growth, including by improving access to finance for high-potential small and medium-sized enterprises and for long-term investment.
The British Business Bank plays a key role in supporting start-ups and scale-ups, working with over 200 delivery partners (including banks and venture capital firms) to channel funding to SMEs that might otherwise struggle to access finance. Following the June Spending Review, the Bank’s financial capacity has increased to £25.6 billion, including the new £4 billion Industrial Strategy Growth Capital initiative, which will help address the scale-up financing gap for priority sectors.
The government is also working with private sector investors to enable more institutional investment into productive UK assets. This includes initiatives like the Pensions Investment Review and the Mansion House Accord. The British Business Bank is also supporting this effort through programmes such as the British Growth Partnership. Together, these actions will help address funding gaps in the market, including the availability and cost of start-up and scale-up capital.
The Money Laundering and Terrorist Financing (Amendment) Regulations 2023 came into force on 10 January 2024. All businesses within scope of the Money Laundering Regulations are now required to ensure that their starting point for assessing the risk posed by domestic politically exposed persons (PEPs), and the extent of the enhanced customer due diligence measures to be applied in relation to that customer, is that they present a lower level of risk than a non-domestic PEP.
The Government has been working closely with the FCA to follow up on the findings of its review into the treatment of Politically Exposed Persons (PEPs) by financial institutions and to ensure firms improve their practices where necessary. Following a consultation, the FCA published updated guidance on PEPs on 7 July 2025. It is available here: https://www.fca.org.uk/publications/finalised-guidance/fg25-3-treatment-politically-exposed-persons
UK businesses should ensure compliance with all UK sanctions regulations as part of their business operations, including performing due diligence checks on all of their clients, suppliers and partners. Non-compliance with UK sanctions is a serious offence and punishable through financial penalties or criminal prosecution.
OFSI has delivered a wealth of guidance, advisories, alerts and threat assessment reports assessing sectoral threats and vulnerabilities relating to financial sanctions. These products have been produced to support industry to comply with UK sanctions, including as part of their global operations. OFSI is not currently working on further guidance for the Hong Kong securities sector. If firms are unclear on their obligations, they should seek legal advice.
If somebody has evidence or information of activity that contravenes UK financial sanctions, this should be reported to OFSI immediately using the reporting form available on GOV.UK(https://www.gov.uk/guidance/suspected-breach-of-financial-sanctions-what-to-do).
The Mansion House Accord is an industry-led agreement and information about the assets in scope is available on the websites of Pensions UK (formerly the PLSA) and the Association of British Insurers (ABI).
The Long-Term Asset Fund (LTAF) was introduced by the Financial Conduct Authority (FCA). The structure was designed to fulfil the need for investment products that can provide funding for long-term projects, such as venture capital, private equity and debt, real estate and infrastructure while offering investors the potential for higher returns in exchange for limited liquidity.
Pension schemes are subject to liquidity requirements as set out in law and in Financial Conduct Authority (FCA) rules and are subject to the oversight of the FCA and The Pensions Regulator (TPR).
The Government consults primary dealers and gilt investors regularly to understand their needs, taking that feedback into account when designing the gilt financing programme. The gilt market is deep and liquid and enjoys strong demand from a well-diversified investor base.
Issuing new types of gilts risks fragmenting the market, which would not be consistent with the government’s debt management objective to minimise the long-term cost of financing. Long-dated and index-linked gilts are already very effective assets for defined benefit pension funds and insurers and allow them to hedge long-term liabilities. This is reflected by the high levels of demand for these products from those sectors.
The government keeps the introduction of new debt instruments under regular review. Any new instrument would need to meet value-for-money criteria, enjoy strong and sustained demand in the long term, and be consistent with wider fiscal objectives.
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer National Insurance contributions (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 Office for Budget Responsibility also published the Economic and Fiscal Outlook (EFO), which sets out a detailed forecast of the economy and public finances.
With all policies considered, the OBR's March 2025 EFO forecasts the employment level to increase from 33.6 million in 2024 to 34.8 million in 2029.
The Government protected the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.
Data on the number of UK adults who are not liable to pay income tax are not currently held or published.
HMRC publishes projections for the total number of Income Taxpayers per year in Table 2.1 of the Income Tax liabilities statistics. [1] Current projections show that there are estimated to be 39.1 million Income Taxpayers in the UK in the 2025 to 2026 financial year.
The Office for National Statistics publishes projections for the total number of people in the UK by age in their population projections. [2] They currently estimate there to be 55.9 million individuals aged 18 or over in the UK in 2025.
[1] Table 2.1 of our Accredited official statistics (gov.uk).
[2] Zipped population projections data files, UK - Office for National Statistics
HM Revenue and Customs (HMRC) estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics are published annually, most recently on 19 June 2025, with the next release planned for June 2026. [1]
The latest estimate of the wealthy customer group tax gap was £2.1 billion for the tax year 2023 to 2024. [2]
[1] The latest estimates include tax years from 2005 to 2006 through to 2023 to 2024 and are available at: https://www.gov.uk/government/statistics/measuring-tax-gaps.
[2] Historical estimates for the tax gap for wealthy customers can be found in table 1.4 here: https://www.gov.uk/government/statistics/measuring-tax-gaps-tables
Making Tax Digital (MTD) helps reduce the estimated £22 billion tax gap across all taxes caused through error and failure to take reasonable care. It does this by requiring closer-to-real-time digital record keeping, underpinned by quarterly updates and submission of the end-of-year tax return using MTD compatible software. MTD for VAT is currently predicted to deliver cumulative additional revenue (ATR) of over £4 billion by 2029-30 by reducing taxpayer errors.
Decisions on eligibility for Covid-19 financial support were taken by the previous government.
The previous Government provided support through the Self-Employment Income Support Scheme (SEISS) and Coronavirus Job Retention Scheme (CJRS). The support was based on two principles: a) targeting support at those who needed it most; and b) guarding against error, fraud, and abuse, whilst reaching as many individuals as possible. Those ineligible for the schemes may have been eligible for other elements of financial support provided by the previous Government.
The current Government is working to improve living standards for everyone across the country. We are taking immediate action to support individuals, such as committing to no increases in employee National Insurance, Income Tax or VAT as we want to keep taxes low for working people. Driving growth is the Government’s number one mission, which will help individuals by boosting wages and putting more money in people’s pockets.
The Government is consulting on proposals to simplify the current gambling tax system by merging the three current taxes that cover remote (including online) gambling into one. The Government welcomes views from stakeholders, as part of the consultation process.
No final policy decisions have been made. If any changes are made to gambling duties at a future Budget following the consultation, they will be accompanied by a Tax Information and Impact Note which will set out the expected impacts, including to individuals, businesses and the wider economy.
DCMS works closely with the Gambling Commission to ensure that illegal gambling, in all its forms, is addressed. The Crime and Policing Bill, introduced in Parliament on 25 February 2025, will grant the Gambling Commission with powers to move quickly and effectively to take down illegal gambling websites.
As part of our transformation of HMRC, we are improving our compliance learning offer to build the capability of both new trainees and established colleagues. Our Compliance Professional Standards reinforce that all colleagues should be mindful to avoid unnecessary delay in dealing with cases and keep customers informed throughout the compliance activity.
HMRC’s new Interactive Compliance Guidance tool, launched in April 2025, is designed to help businesses and individuals understand HMRC compliance checks, improving our support for customers. This promotes a better experience for the customer.
In her recent Spending Review speech, the Chancellor announced that the Government would be establishing a Growth Mission Fund to expedite local projects that are important for growth.
Whilst we cannot confirm funding allocations yet, our £240 million Growth Mission Fund should support transformative projects that give local leaders real investment to deliver real change.
Details regarding funding criteria will be set out in due course.
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 Government decided to protect the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.
NATO qualifying defence expenditure is calculated using standardised NATO definitions of defence spending, as agreed by NATO allies.
Annual defence expenditure per country is reported to NATO on a regular basis and is published on their website.
The Intelligence and Security Services are funded through the Single Intelligence Account (SIA), which is separate from the Ministry of Defence's budget.
The budget for the SIA from 2027 onwards is set out in the Spending Review 2025 document - GOV.UK.
The Trading Allowance allows individuals to earn up to £1,000 a year in trading or miscellaneous income tax-free, and this has not changed. The Government is increasing the Income Tax Self-Assessment reporting threshold from £1,000 to £3,000 gross within this parliament.
Individuals will still owe tax on anything above £1,000, but if below £3,000 they will be able to report their income through a new HMRC online service rather than Self-Assessment. This will reduce administrative burdens for up to 300,000 traders.
The Government must ensure the tax system supports strong public finances whilst targeting support where it is most needed. As with all aspects of the tax system, the Government keeps the taxation of trading income under review. Any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.
Historic NATO qualifying defence spend as a percentage of GDP is published on the NATO website:
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Ministers from multiple Government departments have had several meetings with agricultural organisations on this matter since Autumn Budget 2024. As the Minister with responsibility for the UK tax system, I have had meetings 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.
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Ministers from multiple Government departments have had several meetings with agricultural organisations on this matter since Autumn Budget 2024. As the Minister with responsibility for the UK tax system, I have had meetings 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.
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Ministers from multiple Government departments have had several meetings with agricultural organisations on this matter since Autumn Budget 2024. As the Minister with responsibility for the UK tax system, I have had meetings 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.
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Ministers from multiple Government departments have had several meetings with agricultural organisations on this matter since Autumn Budget 2024. As the Minister with responsibility for the UK tax system, I have had meetings 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.
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Ministers from multiple Government departments have had several meetings with agricultural organisations on this matter since Autumn Budget 2024. As the Minister with responsibility for the UK tax system, I have had meetings 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.
Supplies of welfare services, including the provision of care for people with permanent disabilities and dementia, are exempt from VAT if they are supplied by eligible bodies, such as public bodies or charities.
When developing policy, including on VAT on welfare services, the Treasury carefully considers the impact of its decisions on those sharing any of the nine protected characteristics, including disability, age, sex and race, in line with its statutory obligations under the Public Sector Equality Duty set out in the Equality Act 2010.
More generally, 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. Exceptions to the standard rate have always been limited and balanced against affordability considerations.
Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.
The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.
Date | Statutory Maternity Pay Scheme Count | Statutory Paternity Pay Scheme Count | Shared Parental Pay Scheme Count | Statutory Adoption Pay Scheme Count | Total |
20/21 | 62,800 | 10,200 | 500 | 300 | 73,800 |
21/22 | 63,000 | 14,600 | 600 | 300 | 78,500 |
22/23 | 61,000 | 15,700 | 600 | 400 | 77,700 |
23/24 | 58,600 | 15,000 | 600 | 400 | 74,600 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) PAYE scheme counts have been rounded to nearest 100.
3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.
The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.
Date | Statutory | Statutory | Shared | Statutory | Total (£000’s) |
20/21 | 10,500 | 200 | 100 | 100 | 10,900 |
21/22 | 12,400 | 300 | 200 | 100 | 13,000 |
22/23 | 13,400 | 1,400 | 200 | 400 | 15,400 |
23/24 | 17,400 | 400 | 200 | 200 | 18,200 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Claims values have been rounded to nearest £100,000.
The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.
Date | Total Compensation Count | Total Recovery Count | Proportion |
19/20 | 77,000 | 202,000 | 38% |
20/21 | 74,000 | 185,000 | 40% |
21/22 | 79,000 | 196,000 | 40% |
22/23 | 78,000 | 196,000 | 40% |
23/24 | 75,000 | 196,000 | 38% |
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Total number of claims rounded to nearest 1000.
3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.
Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.
Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.
Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.
The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.
Date | Statutory Maternity Pay Scheme Count | Statutory Paternity Pay Scheme Count | Shared Parental Pay Scheme Count | Statutory Adoption Pay Scheme Count | Total |
20/21 | 62,800 | 10,200 | 500 | 300 | 73,800 |
21/22 | 63,000 | 14,600 | 600 | 300 | 78,500 |
22/23 | 61,000 | 15,700 | 600 | 400 | 77,700 |
23/24 | 58,600 | 15,000 | 600 | 400 | 74,600 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) PAYE scheme counts have been rounded to nearest 100.
3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.
The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.
Date | Statutory | Statutory | Shared | Statutory | Total (£000’s) |
20/21 | 10,500 | 200 | 100 | 100 | 10,900 |
21/22 | 12,400 | 300 | 200 | 100 | 13,000 |
22/23 | 13,400 | 1,400 | 200 | 400 | 15,400 |
23/24 | 17,400 | 400 | 200 | 200 | 18,200 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Claims values have been rounded to nearest £100,000.
The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.
Date | Total Compensation Count | Total Recovery Count | Proportion |
19/20 | 77,000 | 202,000 | 38% |
20/21 | 74,000 | 185,000 | 40% |
21/22 | 79,000 | 196,000 | 40% |
22/23 | 78,000 | 196,000 | 40% |
23/24 | 75,000 | 196,000 | 38% |
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Total number of claims rounded to nearest 1000.
3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.
Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.
Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.
Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.
The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.
Date | Statutory Maternity Pay Scheme Count | Statutory Paternity Pay Scheme Count | Shared Parental Pay Scheme Count | Statutory Adoption Pay Scheme Count | Total |
20/21 | 62,800 | 10,200 | 500 | 300 | 73,800 |
21/22 | 63,000 | 14,600 | 600 | 300 | 78,500 |
22/23 | 61,000 | 15,700 | 600 | 400 | 77,700 |
23/24 | 58,600 | 15,000 | 600 | 400 | 74,600 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) PAYE scheme counts have been rounded to nearest 100.
3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.
The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.
Date | Statutory | Statutory | Shared | Statutory | Total (£000’s) |
20/21 | 10,500 | 200 | 100 | 100 | 10,900 |
21/22 | 12,400 | 300 | 200 | 100 | 13,000 |
22/23 | 13,400 | 1,400 | 200 | 400 | 15,400 |
23/24 | 17,400 | 400 | 200 | 200 | 18,200 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Claims values have been rounded to nearest £100,000.
The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.
Date | Total Compensation Count | Total Recovery Count | Proportion |
19/20 | 77,000 | 202,000 | 38% |
20/21 | 74,000 | 185,000 | 40% |
21/22 | 79,000 | 196,000 | 40% |
22/23 | 78,000 | 196,000 | 40% |
23/24 | 75,000 | 196,000 | 38% |
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Total number of claims rounded to nearest 1000.
3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.
Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.
Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.
Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.
The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.
Date | Statutory Maternity Pay Scheme Count | Statutory Paternity Pay Scheme Count | Shared Parental Pay Scheme Count | Statutory Adoption Pay Scheme Count | Total |
20/21 | 62,800 | 10,200 | 500 | 300 | 73,800 |
21/22 | 63,000 | 14,600 | 600 | 300 | 78,500 |
22/23 | 61,000 | 15,700 | 600 | 400 | 77,700 |
23/24 | 58,600 | 15,000 | 600 | 400 | 74,600 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) PAYE scheme counts have been rounded to nearest 100.
3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.
The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.
Date | Statutory | Statutory | Shared | Statutory | Total (£000’s) |
20/21 | 10,500 | 200 | 100 | 100 | 10,900 |
21/22 | 12,400 | 300 | 200 | 100 | 13,000 |
22/23 | 13,400 | 1,400 | 200 | 400 | 15,400 |
23/24 | 17,400 | 400 | 200 | 200 | 18,200 |
Notes:
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Claims values have been rounded to nearest £100,000.
The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.
Date | Total Compensation Count | Total Recovery Count | Proportion |
19/20 | 77,000 | 202,000 | 38% |
20/21 | 74,000 | 185,000 | 40% |
21/22 | 79,000 | 196,000 | 40% |
22/23 | 78,000 | 196,000 | 40% |
23/24 | 75,000 | 196,000 | 38% |
1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.
2) Total number of claims rounded to nearest 1000.
3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.
Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.
Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.
Transparency data on hospitality received by HM Treasury Ministers can be found on gov.uk here: https://www.gov.uk/government/collections/register-of-ministers-gifts-and-hospitality
HMRC and Border Force do not typically charge for any customs related processes or checks carried out at ports, and any costs levied at ports are a commercial matter for port operators. HMRC is committed to making customs processes as simple as possible while ensuring effective checks are in place at the border and to reducing trader burden related to complying with customs obligations.
I refer the Honourable Member to the answer given to UIN 32918.
I refer the Honourable Member to the answer given to UIN 32918.
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK which includes data on imports of e-bikes. HMRC releases this information monthly, as a National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. HMRC does not hold information on what percentage of sales in the UK are made up of e-bikes that were imported from China.
Classification codes (according to the Harmonised System) are available to assist you in accessing published trade statistics data in the UK Global Tariff. Goods moving to and from the UK are identified by commodity codes. These are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. E-bikes are most likely classified within commodity codes 87116010 and 87116090.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
The Non-Domestic Rating (Private Schools and Multipliers) Act gained Royal Assent on 3 April, giving the Government powers to introduce the new multipliers announced at Autumn Budget 2024, and removing charitable rate relief for private schools.
The new multipliers include permanently lower tax rates for Retail, Hospitality and Leisure (RHL) properties with Rateable Values below £500,000 from 2026-27.
This tax cut must be sustainably funded, and so we intend to introduce a higher rate on the most valuable properties on 2026/27 – those with Rateable Values (RVs) of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The rates for these new business rate multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis of the expected effects of the new multiplier arrangements.
Private hire vehicle services provided by VAT-registered businesses are, and always have been, subject to VAT. The Government continues to take the issue of VAT treatment of private hire vehicle services seriously and recognises the importance of clarity to the sector. It is right, however, that decisions on tax policy are taken at fiscal events in the context of overall public finances. The Government will therefore publish a response to the consultation soon.
Private hire vehicle services provided by VAT-registered businesses are, and always have been, subject to VAT. The Government continues to take the issue of VAT treatment of private hire vehicle services seriously and recognises the importance of clarity to the sector. It is right, however, that decisions on tax policy are taken at fiscal events in the context of overall public finances. The Government will therefore publish a response to the consultation soon.
The Royal Mint Advisory Committee (RMAC) is an advisory non-departmental public body that advises the Chancellor of the Exchequer (in her capacity as Master of the Royal Mint) and HM The King on matters of design with respect to circulating and commemorative coins. RMAC exists to promote numismatic (i.e. the study of coins) and – more broadly - medallic art in the UK, ensuring designs meet high standards of decency and good taste. Non-executive members of the Committee are unremunerated Crown appointments.
RMAC typically comprises four Royal Mint executive members, seven non-executive members including the current Chair, Baroness Stuart of Edgbaston, a representative from HM Treasury and experts in art, design, heraldry, typography, sculpture, history and numismatics. Currently the RMAC comprises of three non-executive members and nine executive members; more information can be found on the Royal Mint Museum's website: Royal Mint Advisory Committee.
RMAC’s Sub-Commitee on the Selection of Themes, chaired by Baroness Stuart, brings together at least two non-executive members of RMAC alongside a representative from HM Treasury and The Royal Mint to examine proposed themes for future commemorative and circulating coins, making recommendations to the Chancellor of the Exchequer.
HM Treasury is currently running a public appointments campaign to appoint four non-executive members to RMAC: a generalist, artist, art historian and lettering expert. Confirmation of these appointments will be made in the autumn.
The government notes that this matter is currently being considered by the Supreme Court and a judgment is expected to be handed down in due course.
The Financial Conduct Authority has confirmed that subject to the Supreme Court outcome, if consumers are found to have lost out from widespread failings by motor finance firms they are likely to set up a consumer redress scheme. On June 5, they published a statement setting out the key considerations that will influence the design of any redress scheme.
The Financial Conduct Authority will set out their next steps within 6 weeks of the judgment.
There are currently no plans to commission a review of UK pension fund and insurance fund exposure to Chinese corporations sanctioned by allied jurisdictions.
The Government does routinely assess the impacts of its sanctions.
HM Treasury does not produce forecasts of the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 March 2025. The OBR does not publish estimates of the impact of policy decisions on levels of food inflation, nor on inflation at a constituency level. The Office for National Statistics publishes food inflation data based on observed price movements at a national level, which is not disaggregated to constituency level.
Insurers make commercial decisions about the terms on which they will offer cover following an assessment of the relevant risks. For example, the existence of pre-existing medical conditions may represent an increased risk.
However, the Government is determined that insurers should treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA is clear that it monitors firms to ensure they provide products that are fair value, and, where necessary, it will take action.
It is worth noting that different insurers may take a different view of the relevant factors in determining the price of insurance based on their differing claims experience. Since some specialist travel insurers may be more equipped to provide cover for consumers with pre-existing medical conditions, the government would encourage consumers to shop around for the most suitable cover at the best price.
To support consumers in accessing travel insurance, the FCA also requires travel insurers to signpost consumers to a directory of specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical conditions.