Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Treasury has reviewed its 2020 forecast of the fiscal impact of extending the VAT RES to EU residents.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The OBR’s estimate is that the withdrawal of the VAT Retail Export Scheme will save the Exchequer around £540 million per year by 2025-26.
The Government has also noted recent external data, which shows that tourism numbers and spending for the UK has recovered at a similar rate following the pandemic to other European economies that offer tax-free shopping
The Government has carefully considered external analysis estimating that a new tax-free shopping scheme would generate more revenue than cost for the Exchequer, as well as supporting data from a wide range of business stakeholders across the UK. However, these do not provide sufficient evidence that a new tax-free shopping scheme would have greater benefits to the UK than costs.
The Government therefore has no plans to introduce a new tax-free shopping scheme in Great Britain.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the OBR has reviewed the Treasury’s 2020 forecast of the fiscal impact of extending the VAT RES to EU residents.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The OBR’s estimate is that the withdrawal of the VAT Retail Export Scheme will save the Exchequer around £540 million per year by 2025-26.
The Government has also noted recent external data, which shows that tourism numbers and spending for the UK has recovered at a similar rate following the pandemic to other European economies that offer tax-free shopping
The Government has carefully considered external analysis estimating that a new tax-free shopping scheme would generate more revenue than cost for the Exchequer, as well as supporting data from a wide range of business stakeholders across the UK. However, these do not provide sufficient evidence that a new tax-free shopping scheme would have greater benefits to the UK than costs.
The Government therefore has no plans to introduce a new tax-free shopping scheme in Great Britain.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of applying a 10p increase in the business rate multiplier for all hereditaments in Greater London with a rateable value of £500,000 or more on business rate income in (a) the City of London and (b) each of the London boroughs in the (i) 2023-24, (ii) 2024-25 and (iii) 2025-26 financial year.
Answered by James Murray - Chief Secretary to the Treasury
The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.
Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of applying a 10p increase in the business rate multiplier for all hereditaments in England with a rateable value of £500,000 or more on business rate income in the (a) 2023-24, (b) 2024-25 and (c) 2025-26 financial year.
Answered by James Murray - Chief Secretary to the Treasury
The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.
Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many hereditaments are used for (a) distribution and (b) warehousing by Amazon in England and have a rateable value of £499,999 or below.
Answered by James Murray - Chief Secretary to the Treasury
Due to legislation protecting taxpayer confidentiality, I am unable to disclose information about individual ratepayers or properties.
The Non Domestic Rating Lists are publicly available to view and can be searched by postcode and Special Category Code.
The Valuation Office Agency also publishes statistics on the Non Domestic Rating Stock of Properties on gov.uk.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of reducing the business rate multiplier by 20p for all hereditaments in England used for retail, hospitality and leisure with a rateable value of (a) under £51,000 and (b) £51,000 to £499,999 on business rate income (i) including and (ii) excluding the (A) existing and (B) planned Retail, Hospitality and Leisure Business Rates Relief scheme in the (1) 2023-24, (2) 2024-25 and (3) 2025-26 financial year.
Answered by James Murray - Chief Secretary to the Treasury
The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.
Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many hereditaments in England that are not used for retail, hospitality or leisure had a rateable value of £500,000 or above on 29 January 2025.
Answered by James Murray - Chief Secretary to the Treasury
The information requested is provided in the Valuation Office Agency’s Non Domestic Rating Stock of Properties publication available on gov.uk.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many hereditaments used for (a) distribution and (b) warehousing in England had a rateable value of £500,000 or above on 29 January 2025.
Answered by James Murray - Chief Secretary to the Treasury
The information requested is provided in the Valuation Office Agency’s Non Domestic Rating Stock of Properties publication available on gov.uk.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many hereditaments used for hospitality in England had a rateable value of £500,000 or above on 29 January 2025.
Answered by James Murray - Chief Secretary to the Treasury
The information requested is provided in the Valuation Office Agency’s Non Domestic Rating Stock of Properties publication available on gov.uk.
Asked by: Geoffrey Clifton-Brown (Conservative - North Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many hereditaments used for leisure in England had a rateable value of £500,000 or above on 29 January 2025.
Answered by James Murray - Chief Secretary to the Treasury
The information requested is provided in the Valuation Office Agency’s Non Domestic Rating Stock of Properties publication available on gov.uk.