Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
What progress the Government has made on supporting families with the cost of living.
Answered by Elizabeth Truss
People’s disposable income is now 4.6% higher in real terms than in 2010. That is because we have turned around the economy and held taxes down.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many staff at HM Revenue and Customs work on insolvency procedures.
Answered by David Gauke
Within HM Revenue and Customs (HMRC) debt management teams in Worthing and Edinburgh are responsible for initiating insolvency actions where other attempts to recover sums due have been unsuccessful. A third team at Newcastle lodges HMRC’s claims in insolvencies. The total number of staff engaged on insolvency work in HMRC’s debt management offices is 258.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much HM Revenue and Customs has received related to insolvency procedures in each of the last five years.
Answered by David Gauke
HM Revenue and Customs (HMRC) only holds information about dividends paid for each of the last two years. In 2014/15 a total of £70.6m was received. In 2015/16 the figure was £74.5m. These figures represent dividends paid after a company or individual has been made insolvent. HMRC also receives payments in response to the initiation of insolvency proceedings and these payments are sometimes sufficient to allow HMRC to withdraw the proceedings. Data is not available about the amount received by way of these payments.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the cost was to HM Revenue and Customs related to insolvency procedures in each of the last five years.
Answered by David Gauke
The amount spent by HM Revenue and Customs’ (HMRC) debt management offices in Worthing, Edinburgh and Newcastle on staff costs and insolvency expenses (e.g. court fees and payments to insolvency practitioners) was £32,594,200 in 2012/13, £26,337,346 in 2013/14, £30,295,668 in 2014/15 and £28,171,282 in 2015/16. Full data is not available for 2011/12. Across HMRC there are other staff working on specialist areas of insolvency but in the time available we cannot provide details of numbers or cost.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many times HM Revenue and Customs has been a creditor in the last five years.
Answered by David Gauke
HM Revenue and Customs (HMRC) is a creditor of anyone who has a tax debt. We do not have complete information about the number of debtors who have owed money to HMRC in the past five years.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps the Government is taking to support (a) people with savings and (b) home ownership.
Answered by Harriett Baldwin
400,000 people have already opened a Help to Buy: ISA to buy their first home. At Budget 2016 the Chancellor also announced a Lifetime ISA which can be used by people under 40 to save for their first home and retirement.Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many notices under section 93 of the Finance Act 2015 were issued by HM Revenue and Customs in the period from 1 April 2015 to 31 December 2015.
Answered by David Gauke
The Diverted Profits Tax is designed to counter contrived tax arrangements used by some multinationals to shift their profits to other countries. It is deliberately set at a higher rate than corporation tax, so it acts as a deterrent and encourages more companies to pay corporation tax.
No notices under section 93 Finance Act 2015 were issued during the period 1 April 2015 to 31 December 2015 but HM Revenue and Customs (HMRC) received notifications from eleven companies under section 92 in relation to section 86 Finance Act 2015.
For companies with accounting periods ending on or before 31 March 2016 the notification period is six months from the end of that period. HMRC is not able to disclose details of notifications relating to sections 80 and 81 of the Finance Act 2015 due to its duty to protect taxpayer confidentiality.
Asked by: Nigel Mills (Conservative - Amber Valley)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many notifications under section 92 of the Finance Act 2015 were received by HM Revenue and Customs during the period from 1 April 2015 to 31 December 2015.
Answered by David Gauke
The Diverted Profits Tax is designed to counter contrived tax arrangements used by some multinationals to shift their profits to other countries. It is deliberately set at a higher rate than corporation tax, so it acts as a deterrent and encourages more companies to pay corporation tax.
No notices under section 93 Finance Act 2015 were issued during the period 1 April 2015 to 31 December 2015 but HM Revenue and Customs (HMRC) received notifications from eleven companies under section 92 in relation to section 86 Finance Act 2015.
For companies with accounting periods ending on or before 31 March 2016 the notification period is six months from the end of that period. HMRC is not able to disclose details of notifications relating to sections 80 and 81 of the Finance Act 2015 due to its duty to protect taxpayer confidentiality.