Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of what additional compliance requirements the US Foreign Account Tax Compliance Act will place on UK-based companies over and above the requirements of the UK system with which they are already compliant.
Answered by Mel Stride - Secretary of State for Work and Pensions
An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the potential additional administrative and financial burdens placed on UK financial services of complying with the US Foreign Account Tax Compliance Act; and if he will make a statement.
Answered by Mel Stride - Secretary of State for Work and Pensions
An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what representations he has made to his counterpart in the US on the effect on UK financial services businesses of complying with the US Foreign Account Tax Compliance Act.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
As part of the process of reviewing the Inter-Governmental Agreement between the UK and the US that implements FATCA in the UK, my officials have raised a wide range of issues with the US Treasury and the IRS, including the obligations placed by the US on the non-life insurance industry.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with his counterpart in the US on repealing the Foreign Account Tax Compliance Act and exempting non-life insurance services from the remit of that Act as part of ongoing trade discussions between the UK and US.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
As part of the process of reviewing the Inter-Governmental Agreement between the UK and the US that implements FATCA in the UK, my officials have raised a wide range of issues with the US Treasury and the IRS, including the obligations placed by the US on the non-life insurance industry.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with his US counterpart on (a) that country repealing its Foreign Account Tax Compliance Act and (b) exempting non-life insurance services from the remit of that Act.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
As part of the process of reviewing the Inter-Governmental Agreement between the UK and the US that implements FATCA in the UK, my officials have raised a wide range of issues with the US Treasury and the IRS, including the obligations placed by the US on the non-life insurance industry.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many residential property transactions valued at (a) £125,000.01 to £250,000, (b) £250,000.01 to £925,000.01, (c) £925,000 to £1.5 million and (d) over £1.5 million there have been in Wimbledon constituency since 2012; and what the total stamp duty land tax revenue generated by those transactions was in (i) 2012, (ii) 2013, (iii) 2014, (iv) 2015 and (v) 2016 in each of those price bands.
Answered by Jane Ellison
The figures asked for are not readily available and could be provided only at disproportionate cost.
Annual statistics on the total number of transactions and total Stamp Duty Land Tax receipts by Parliamentary Constituency (including Wimbledon) are published by HM Revenue and Customs in the annual ‘UK Stamp Tax Statistics’. These publications cover the financial years from 2012-13 to 2015‑16. https://www.gov.uk/government/statistics/uk-stamp-tax-statistics
Table 3.6 of the latest release, for 2015-16, also contains statistics broken down by the price band of the property and the region (eg London).
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/556350/AnnualStampTaxes-Release-Sep16.xlsx
Statistics relating to 2016-17 are due to be published in September
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will instruct the Infrastructure and Projects Authority to reproduce Table 7.1 of the Final Report of the Airports Commission, published in July 2015, using the Commission's (a) global growth, (b) relative decline of Europe, (c) low-cost is king and (d) global fragmentation scenarios.
Answered by David Gauke
The Infrastructure and Projects Authority has no plans to produce further analysis on the identification and evaluation of how any need for additional capacity airport should be met.
In October, the Department for Transport published a range of analyses to be read alongside the Airports Commission Final Report as part of the Government’s announcement of its preferred scheme for new runway capacity in the South East.
The Government will now lay a draft National Policy Statement for consultation in the New Year, which will be accompanied by an Appraisal of Sustainability that examines the economic, environmental and social impacts of the preferred scheme and reasonable alternatives.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to Table 7.1 of the Final Report of the Airports Commission, published in July 2015, if he will commission an assessment of the effect on the data in that table under the Commission's (a) global growth, (b) relative decline of Europe, (c) low-cost is king and (d) global fragmentation scenarios.
Answered by David Gauke
The Infrastructure and Projects Authority has no plans to produce further analysis on the identification and evaluation of how any need for additional capacity airport should be met.
In October, the Department for Transport published a range of analyses to be read alongside the Airports Commission Final Report as part of the Government’s announcement of its preferred scheme for new runway capacity in the South East.
The Government will now lay a draft National Policy Statement for consultation in the New Year, which will be accompanied by an Appraisal of Sustainability that examines the economic, environmental and social impacts of the preferred scheme and reasonable alternatives.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will instruct the Infrastructure and Projects Authority to reproduce Table 7.1 of the Final Report of the Airports Commission, published in July 2015, using an appraisal period of (a) 10, (b) 20 and (c) 30 years.
Answered by David Gauke
The Infrastructure and Projects Authority has no plans to produce further analysis on the identification and evaluation of how any need for additional capacity airport should be met.
In October, the Department for Transport published a range of analyses to be read alongside the Airports Commission Final Report as part of the Government’s announcement of its preferred scheme for new runway capacity in the South East.
The Government will now lay a draft National Policy Statement for consultation in the New Year, which will be accompanied by an Appraisal of Sustainability that examines the economic, environmental and social impacts of the preferred scheme and reasonable alternatives.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether the Infrastructure and Projects Authority will assume responsibility for future projects to increase airport capacity in the South East.
Answered by David Gauke
A range of public or private sector organisations are responsible for the delivery of infrastructure projects. The Infrastructure and Projects Authority will continue to provide expertise to a range of projects.