Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many properties or other assets belonging to persons affiliated with ISIS have been seized or frozen under UK Government sanctions since March 2011.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury published in its 2024-2025 Annual Review that £19.3 million in assets across multiple sanctions regimes have been reported as frozen as of September 2024. This is an aggregated total of all entities and individuals listed on the Consolidated List of Financial Sanctions Targets under non specified regimes including the ISIL (Da’esh) and Al-Qaida regime. OFSI does not hold a comparable figure for 2011.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many (a) properties and (b) other assets belonging to family members of Bashar al-Assad have been (i) seized and (ii) frozen under UK Government sanctions since March 2011.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury published in its 2024-2025 Annual Review that £383 million in assets relating to the Syrian sanctions regime have been reported as frozen as of September 2024. This is an aggregated total of all entities and individuals listed on the Consolidated List of Financial Sanctions Targets. OFSI does not hold a comparable figure for 2011.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the interest accruing on the frozen proceeds from the sale of Chelsea Football Club is subject to UK taxation.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
HM Treasury and His Majesty’s Revenue and Customs (HMRC) are unable to comment on the tax affairs of specific taxpayers. UK source interest is chargeable to UK tax. The quantum and timing of that charge are dependent on the status of the recipient and the precise nature of the arrangements that lead to that interest.Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the interest accrued on the frozen proceeds from the sale of Chelsea Football Club is intended to benefit any future foundation established to support victims of the war in Ukraine.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government is determined to see the full proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion. We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.
While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 March to Question 38340 on Foreign Relations: China, how many meetings with Chinese government officials have taken place at her Department since September 2024, broken down by (a) month and (b) subject of meeting.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
As stated in my Answers of 14 and 24 March, UK Officials regularly engage with Chinese counterparts in order to further UK interests, cooperating on areas of mutual interest and challenging on areas where we disagree.
This government is taking a consistent, long-term and pragmatic approach to managing the UK’s relations with China. It is only right that we engage with China where there are clear UK and global interests, including on international stability, climate, health and bolstering our trade relationship.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 March to Question 36039 on Foreign Relations: China, on what dates these meetings were held.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
As stated in my Answer of 14 March, UK Officials regularly engage with Chinese counterparts in order to further UK interests, cooperating on areas of mutual interest and challenging on areas where we disagree.
This government is taking a consistent, long-term and pragmatic approach to managing the UK’s relations with China. It is only right that we engage with China where there are clear UK and global interests, including on international stability, climate, health and bolstering our trade relationship.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many meetings between Chinese and UK officials took place between October 1 2024 and March 1 2025.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
UK officials regularly engage with Chinese counterparts in order to further UK interests, cooperating on areas of mutual interest and challenging on areas where we disagree. This government is taking a consistent, long-term and pragmatic approach to managing the UK’s relations with China. It is only right that we engage with China where there are clear UK and global interests, including on international stability, climate, health and bolstering our trade relationship.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to ensure that funds potentially owed by Roman Abramovich to HMRC are (a) investigated and (b) reclaimed.
Answered by James Murray - Chief Secretary to the Treasury
I cannot comment on specific taxpayers or provide comment on individuals or businesses.
However, at the Budget, the Government announced the most ambitious ever package to close the tax gap, to raise £6.5 billion in additional tax revenue per year by 2029-30.
This includes recruiting 5,000 additional compliance staff to make sure people pay the tax that is due, including against serious offshore non-compliance and fraud by the wealthy. Offshore evasion is an international issue that calls for international solutions
The UK is leading international efforts to improve global transparency and we are committed to ensuring everyone pays the right tax under the law, regardless of wealth or status.
Asked by: Iain Duncan Smith (Conservative - Chingford and Woodford Green)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the implications for her policies of reports that Chinese companies have registered more than 30,000 companies at UK addresses where the registered owners have no connection to the business concerned.
Answered by Tulip Siddiq
DBT and Companies House are moving at pace to implement the Economic Crime and Corporate Transparency Act 2024, a principal purpose of which is to strengthen the powers of the Registrar of Companies to bear down on the abuse of corporate structures in the UK. Enhanced intelligence sharing between public authorities is a key element in that.
HMRC is aware of the risk of overseas sellers misrepresenting their true establishment to an online marketplace so that the online marketplace will not charge VAT, and continues to keep the policy under review. Rules introduced in January 2021 make Online Marketplaces responsible for VAT on goods sold by overseas businesses on their platforms.