Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will reduce the stamp duty rate for first-time buyers purchasing properties above the threshold set for first-time buyers.
Answered by Jesse Norman
At Autumn Statement 2014, residential SDLT was cut for 98% of people who pay it, unless they are purchasing additional property, and at Autumn Budget 2017 the Government introduced first time buyers’ relief which has already helped over 240,000 people get onto the housing ladder.
All taxes are kept under review as part of the Budget cycle.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will reduce stamp duty rates for private home buyers.
Answered by Jesse Norman
At Autumn Statement 2014, residential SDLT was cut for 98% of people who pay it, unless they are purchasing additional property, and at Autumn Budget 2017 the Government introduced first time buyers’ relief which has already helped over 240,000 people get onto the housing ladder.
All taxes are kept under review as part of the Budget cycle.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to eliminate the retrospective aspects of the loan charge.
Answered by Jesse Norman
The Government published Sir Amyas Morse’s independent review of the Loan Charge on 20 December, alongside the Government’s response to his recommendations. The Government welcomes Sir Amyas’s recognition that Disguised Remuneration schemes are a form of tax avoidance and that it was right for the Government to take action to ensure the tax was collected.
Sir Amyas’s careful and considered report examines the question of from when the Loan Charge should apply. He concludes that from 9 December 2010 the law about the tax treatment of loan schemes was clear and that the Loan Charge should apply from this date.
The Government accepts Sir Amyas’s clear view on this point and intends to legislate to implement all but one of the recommendations in the next Finance Bill.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will undertake a review of HMRC's IR35 tax regulations.
Answered by Jesse Norman
The review of the off-payroll working rules reform was announced on 7 January 2020. As set out at Budget 2018, the reform is due to be extended to medium and large organisations in all sectors from April 2020. The review will look to address any remaining concerns from businesses and individuals about how the forthcoming reform will be implemented, and will determine if any further steps can be taken to ensure smooth and successful implementation.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will review the mortgage rules related to the EU Mortgage Credit Directive once the UK leaves the EU.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
After the UK leaves the EU – which the Government is determined to do - we will have control over the rules that we set for our financial services sector. The UK is committed to uphold global, open markets underpinned by the highest standards of regulation and appropriate levels of supervisory oversight.
Common rules will remain in place until the end of the Implementation Period on 31 December 2020. Any EU measures which become operative during that implementation period would therefore also apply in the UK.
The Mortgage Credit Directive (MCD) was introduced by the European Commission following the financial crisis to improve standards for mortgage lending across the EU. The final text of the MCD was published in February 2014, with a requirement for Member States to transpose it into national law by 21 March 2016.
The MCD aims to ensure a high level of consumer protection for mortgage applicants. The majority of its rules already aligned with the existing UK regulatory system for mortgages. For the most part, the Government therefore implemented the requirements through alteration to the Financial Conduct Authority’s (FCA) rules. The FCA monitors the impact of its rules on the market closely. For example, their Mortgages Market Study of March 2019 found that broadly the mortgage market is working well for consumers.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure the independence of the review of the 2019 Loan Charge.
Answered by Jesse Norman
The Chancellor commissioned Sir Amyas Morse, former CEO of the National Audit Office, to lead an independent Review to consider the impact of the Loan Charge, focusing on individuals who entered directly into disguised remuneration schemes.
Sir Amyas has a strong track record of holding the Government to account and is widely respected, as was emphasised by colleagues across the House in a debate of 6 March 2019.
Sir Amyas has full control over how the Review is run and the outcome. For more information, the Review’s terms of reference can be found here: https://www.gov.uk/government/publications/disguised-remuneration-independent-loan-charge-review
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will review the child benefit rules to include support to all parents of adopted children.
Answered by Rishi Sunak - Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
Child Benefit provides support to all parents of adopted children where those parents are responsible for the adopted children. A person is treated as being responsible for a child, whether that child is adopted or not adopted, where:
the child living is with them;
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to reduce the excise duty on (a) wine, (b) sparkling wines and (c) fortified wines.
Answered by Simon Clarke
The actions taken by the Government since ending the wine duty escalator in 2014 have ensured that the price of typical bottle of wine is 16p lower in real terms than it otherwise would have been.
However, alcohol duties raise vital revenue to fund public services, and in order to protect the public finances, an RPI increase in duty rates is assumed in the public finances for all alcoholic drinks each year. All taxes are kept under review and the impact of a change to wine duty is considered at each Budget.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of change the level of tax for NHS consultants working overtime.
Answered by Elizabeth Truss
The Government keeps public sector pay and pensions policy under constant review in the context of the wider public finances. The same tax rules must apply identically to everyone in the same situation, regardless of their employer.
Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2017/18 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers.
The Government has listened carefully to specific concerns raised by some high-earning NHS consultants impacted by annual allowance tax charges.
In response, the Secretary of State for Health and Social Care has announced his intention to consult on proposals for a new 50:50 option providing pension flexibility for senior clinicians in the NHS. This flexibility will give senior clinicians in England and Wales more choice in respect of their pension accrual, and therefore the ability to control better any pensions tax charges.
Asked by: Andrea Jenkyns (Conservative - Morley and Outwood)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the adequacy of social care funding for people living with dementia.
Answered by Elizabeth Truss
Dementia care is supported by both NHS and adult social care finding. As part of the NHS’s cash increase of £33.9bn a year by 2023-24 and outlined in their long-term plan, the NHS will provide better support for people with dementia through a more active focus on supporting people in the community. And over three years (2017-18 to 2019-20) we have given councils access to up to around £10bn more dedicated funding for adult social care.
The Spending Review represents an opportunity to consider public spending priorities in the round, and the Treasury will be working closely with departments on funding issues, and with a renewed focus on delivering outcomes.