Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what his policy is on promoting the use of digital currencies; and what impact assessment has been carried out on the economic benefits of regulating that sector.
Answered by John Glen
As announced in the Fintech sector strategy in March, the government is establishing a Cryptoassets Taskforce made up of the Treasury, the Bank of England, and the Financial Conduct Authority.
The Taskforce will explore further the challenges of cryptoassets and the opportunities of the underlying distributed ledger technology in financial services, as well as assess the future response of the appropriate authorities, including around regulation.
The Taskforce will publish its final report in summer 2018.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps his Department is taking to engage with the digital currency industry.
Answered by John Glen
As announced in the Fintech sector strategy in March, the government is establishing a Cryptoassets Taskforce to explore further the risks of cryptoassets and the potential benefits of the underlying distributed ledger technology in financial services, as well as to assess the future response of the appropriate authorities, including around regulation.
The Task Force itself will be made up of the government and the financial regulators. The government welcomes and will take into consideration the views of the digital currency industry. As part of this work, officials have begun and will continue to engage with industry.
Details of ministerial and permanent secretary meetings with external organisations are also published on a quarterly basis and are available at:
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 2 March 2017 to Question 65735, on Concentrix: minimum wage, how the level of average salary paid to Concentrix staff who have been transferred to HM Revenue and Customs (HMRC) via a TUPE arrangement compares with the average salary of staff already in HMRC carrying out similar jobs.
Answered by Jane Ellison
From 1 April 2017, all former Concentrix staff who transferred to HM Revenue and Customs (HMRC) under TUPE terms were offered the opportunity to transfer to HMRC terms and conditions, including pay harmonisation.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many of the Concentrix staff transferred to HM Revenue and Customs via a TUPE arrangement are paid the minimum wage.
Answered by Jane Ellison
Under TUPE arrangements a total of 241 Concentrix staff were transferred to HM Revenue and Customs. All of the staff transferred are paid above the National Minimum Wage (NMW).
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect on children of the suspension of child tax credit when investigations are carried out.
Answered by Jane Ellison
In most cases, HM Revenue and Customs (HMRC) does not suspend the payment of tax credits payments during checks on tax credit awards. It only does this where information held indicates that this is a reasonable step to prevent payments being made in error. In these circumstances, making further payments would therefore result in increased overpayments of tax credits overall which the customer would have to repay. Nevertheless, if a customer demonstrates that the claim is correct, HMRC reinstates payments immediately.
HMRC has not carried out research into the specific aspect of the tax credits system related to suspension of Child Tax Credits.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he is taking to reduce any hardship associated with the target of 42 days to resolve appeals on child tax credit claims.
Answered by Jane Ellison
HM Revenue and Customs (HMRC) has a 42-day target to resolve Mandatory Reconsiderations, where customers challenge their tax credits award calculation. The average time taken to work Mandatory Reconsiderations can vary depending upon the complexity of the request, individual circumstances and the level of supporting evidence provided.
When a customer requests a Mandatory Reconsideration HMRC suspends the recovery of any previous overpayment that is being collected from their current award, to minimise customer hardship during the reconsideration.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many recipients of child tax credit have had their payments restored following investigation in each of the last three years.
Answered by Jane Ellison
The information could only be obtained at disproportionate cost.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential merits of introducing survival payments in cases when the regular payment of child tax credits has been suspended.
Answered by Jane Ellison
HM Revenue and Customs (HMRC) regularly carries out checks on tax credits awards, including Child Tax Credit, to reduce error and fraud. These checks identify potential risks with ongoing tax credits claims.
Depending on the level of risk found, HMRC may ask customers for more information about their claim and circumstances, or a compliance team might undertake a full examination.
In most cases, HMRC does not suspend the payment of tax credits payments during the check. It only does this where information held indicates that this is a reasonable step to prevent payments being made in error. In these cases, if a customer demonstrates that the claim is correct, HMRC reinstates payments immediately.
In these circumstances, making further payments would therefore result in increased overpayments of tax credits overall which the customer would have to repay.
HMRC has not carried out research into the specific aspect of the tax credits system related to suspension of Child Tax Credits.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether he has conducted research on the effect of a suspension of child tax credit payments when a change in circumstance has been assumed.
Answered by Jane Ellison
HM Revenue and Customs (HMRC) regularly carries out checks on tax credits awards, including Child Tax Credit, to reduce error and fraud. These checks identify potential risks with ongoing tax credits claims.
Depending on the level of risk found, HMRC may ask customers for more information about their claim and circumstances, or a compliance team might undertake a full examination.
In most cases, HMRC does not suspend the payment of tax credits payments during the check. It only does this where information held indicates that this is a reasonable step to prevent payments being made in error. In these cases, if a customer demonstrates that the claim is correct, HMRC reinstates payments immediately.
In these circumstances, making further payments would therefore result in increased overpayments of tax credits overall which the customer would have to repay.
HMRC has not carried out research into the specific aspect of the tax credits system related to suspension of Child Tax Credits.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, when HM Revenue and Customs plans to publish the one-year progress report on implementation of the Accutrace S10 Fuel Marker.
Answered by Damian Hinds
As stated in the 6 month report, published on 4 November 2015, HMRC will continue to monitor the impact of the new fuel marker and will publish a further report on the first 12 months as soon as the data is available