Asked by: Craig Mackinlay (Conservative - South Thanet)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the number of people who will be subject to personal allowance restriction on incomes over £100,000 as a result of Clause 24 of the Finance Bill 2015 (restriction to Landlords' interest deductibility) in each year between 2017-18 and 2020-21.
Answered by David Gauke
It is assumed that the questions refer to clause 24 of the Summer 2015 Finance Bill: relief for finance costs related to residential property businesses.
15897
The additional taxation receipts arising from restrictions to Landlords’ interest deductibility of the Summer Budget Finance Bill 2015 has been estimated and published in the “Summer Budget 2015: policy costings” page 21:
15898
The number of taxpayers who will become higher rate taxpayers as a result of Clause 24 of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15899
The number of taxpayers who will become subject to Personal Allowance restrictions as a result of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15895
No estimate is available of the number of people that will be subject to the provisions of the High Income Child Benefit Tax Charge as a result of Clause 24 of the Finance Bill 2015. The information requested could only be provided at disproportionate cost.
Asked by: Craig Mackinlay (Conservative - South Thanet)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the number of people that will be subject to the provisions of the High Income Child Benefit Tax Charge as a result of Clause 24 of the Finance Bill 2015 (restriction to Landlords' interest deductibility) in each year between 2017-18 and 2020-21.
Answered by David Gauke
It is assumed that the questions refer to clause 24 of the Summer 2015 Finance Bill: relief for finance costs related to residential property businesses.
15897
The additional taxation receipts arising from restrictions to Landlords’ interest deductibility of the Summer Budget Finance Bill 2015 has been estimated and published in the “Summer Budget 2015: policy costings” page 21:
15898
The number of taxpayers who will become higher rate taxpayers as a result of Clause 24 of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15899
The number of taxpayers who will become subject to Personal Allowance restrictions as a result of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15895
No estimate is available of the number of people that will be subject to the provisions of the High Income Child Benefit Tax Charge as a result of Clause 24 of the Finance Bill 2015. The information requested could only be provided at disproportionate cost.
Asked by: Craig Mackinlay (Conservative - South Thanet)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will (a) consider legal action to recover tax due from Volkswagen as a consequence of carbon dioxide outputs and nitrogen dioxide levels and (b) commit to not reassessing tax payments for an additional benefit in kind as a result of higher carbon dioxide outputting vehicles.
Answered by Damian Hinds - Minister of State (Education)
The Government takes the unacceptable actions of Volkswagen extremely seriously and is taking robust action to get to the bottom of the emissions sandal.
The Government has announced that no UK taxpayers will be penalised by higher taxes if their existing vehicles are found to be affected by the emissions testing scandal.
The Government continues to monitor the actions of Volkswagen closely and will consider all options once the facts are fully clarified.