Asked by: Andy McDonald (Labour - Middlesbrough and Thornaby East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of a UN Tax Convention.
Answered by James Murray - Chief Secretary to the Treasury
The UK is committed to working with all stakeholders to ensure inclusive and effective international tax cooperation, and has been actively engaging in negotiations at the UN over a future Framework Convention.
The UK believes that a UN Tax Framework Convention has the potential to further advance international tax cooperation, but to be successful, it needs to be clear in its aims, avoid duplicating initiatives, and seek to secure the broad support and participation of members.
The UK was disappointed that these principles were not fully reflected in the Terms of Reference agreed by the UN Ad Hoc Committee in August, but will continue to engage constructively in support of key principles for strengthening international tax cooperation.
Asked by: Andy McDonald (Labour - Middlesbrough and Thornaby East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will bring forward legislative proposals to require private lenders to agree debt cancellation for lower income countries.
Answered by Darren Jones - Minister for Intergovernmental Relations
The Government is committed to tackling unsustainable debt. Private lenders have an important part to play and alongside our partners in the G20 and Paris Club, we expect private creditors to participate in debt restructurings on comparable terms. This is a fundamental principle of the G20 Common Framework and we welcome recent agreements reached by bondholders of Zambia and Ghana.
At this stage, the Government is not pursuing a legislative approach that would force private or other lenders to participate in debt restructurings. The Government is focused on delivering a market-based (contractual) approach to private sector participation, to promote more efficient restructurings, reduce the ability for creditors to hold out, and increase transparency.
Asked by: Andy McDonald (Labour - Middlesbrough and Thornaby East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of applications for (a) enhanced capital allowances, (b) Stamp Duty Land Tax relief and (c) employer National Insurance contributions relief that were processed in the tax sites of the Tees Freeport in each month since November 2021 to date.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
Since November 2021, under the tax reliefs available at Teesside Freeport, HMRC has not received any claims for enhanced capital allowances and Stamp Duty Land Tax relief. It is normal for there to be a delay in the receipt of enhanced capital allowance claims because claims are made in the corporation tax return within one year from the end of the accounting period for which the claim relates, and there is scope for SDLT freeport claims to be made up to 30 September 2026.
With regards to Employer National Insurance contributions relief, HMRC do not routinely analyse take-up at an individual Freeport level, and so do not have the requested data readily available.
Asked by: Andy McDonald (Labour - Middlesbrough and Thornaby East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what his policy is on the taxation of dividend payments made by businesses authorised to operate in a Freeport.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
Dividends paid by companies operating in freeports are taxed in the same way and at the same rates as companies that do not operate in freeports.