Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of the Financial Conduct Authority's regulatory regime entitled PS24/8: Access to cash.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.
The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it by providing reasonable access to cash withdrawal and deposit facilities for individuals and businesses, including free services for personal accounts.
The FCA is required by law to keep its rules under review and, as part of the Government’s response to the Treasury Committee’s report into the acceptance of cash earlier this year, the FCA publicly committed to review its regime. The FCA has been closely monitoring the impact and effectiveness of their regime during its first year. It will commence a formal evaluation of its regime in due course and will write to the Treasury Committee shortly setting out its plans.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential impact of including CCTV systems as rateable items on businesses.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
CCTV systems fall within the relevant business rates legislation relating to plant and machinery, and as such are rateable. The presence of small systems may be reflected in the overall value of the building, although more specialist systems may be separately valued as an individual plant and machinery item.
The Valuation Office Agency does not routinely record the proportion of a property's assessment that is attributable to a CCTV system. Therefore, it is not possible to determine how much is levied each year in business rates in respect of CCTV systems.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the guidance entitled Reliefs from VAT for disabled and older people (VAT Notice 701/7), published on 18 December 2014, for people with permanent disabilities who are reliant on care provided by organisations which fall outside the exemption regime.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC supports its customers by providing accessible digital services, tailored help for those with additional needs, and clear guidance to manage their tax affairs confidently.
VAT Notice 701/7 - Reliefs from VAT for disabled and older people explains which goods and services for disabled people are zero-rated for VAT, and which mobility aids for people aged 60 or over are reduced-rated (subject to VAT at a rate of 5%).
HMRC guidance in VAT Notice 701/2 - Welfare services and goods explains the reliefs available for individuals with permanent disabilities. The VAT exemption applies to care provided to disabled individuals by organisations that are public bodies, charities, or state-regulated institutions.
HMRC keeps its guidance under review for accuracy and usability, providing updates in relation to changes in policy and processes.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure buy-to-let mortgage products are available for landlords renting to vulnerable tenants.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government welcomes innovation in the mortgage market and continues to work with the sector to improve housing provisions and the safeguards in place for the vulnerable.
The availability and design of buy-to-let mortgages is a commercial decision for lenders in which the Government does not intervene.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking with Cabinet colleagues to help support small family businesses that are affected by recent Inheritance Tax changes.
Answered by James Murray - Chief Secretary to the Treasury
The Government believes its reforms to agricultural property relief and business property relief 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.
These reforms were announced on 30 October 2024 and will take effect from 6 April 2026.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the merits of putting transitional arrangements in place for changes to inheritance tax rules for family businesses.
Answered by James Murray - Chief Secretary to the Treasury
The Government believes its reforms to agricultural property relief and business property relief 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.
These reforms were announced on 30 October 2024 and will take effect from 6 April 2026.
Asked by: Caroline Voaden (Liberal Democrat - South Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the proposed application of VAT on private school fees on families who are unable to access appropriate SEND support in state schools.
Answered by James Murray - Chief Secretary to the Treasury
The Government is committed to breaking down barriers to opportunity, ensuring every child has access to high-quality education, which is why we have made the tough decision to end tax breaks for private schools. This will raise revenue for essential public services, including investing in the state education system
This VAT change will not impact pupils with most acute additional needs where these can only be met in private schools, as determined by an Education and Health Care Plan in England, and equivalent processes in other nations.
Where pupils are placed in a private school because their needs cannot be met in the state sector, and they have their places funded by their Local Authority, the Local Authority will be able to reclaim the VAT they incur on these pupils’ fees. In Northern Ireland, it will be the Education Authority who fund placements in private schools and will be able to reclaim the VAT in this way.
The government will publish a Tax Information and Impact Note setting out the impacts of the changes, including the equalities impacts, alongside the Finance Bill.