Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the income to the public purse was for VAT payments from Northern Ireland in each of the last five years, broken down by sector.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The information requested is not available. HM Revenue and Customs holds data for VAT receipts disaggregated between England, Wales, Scotland and Northern Ireland up to the financial year 2018-2019 but not beyond this date and not on a sector breakdown basis. There are ONS statistics on the VAT that could be attributed to Northern Ireland for later years, but again this cannot be broken down by sector.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that traders in Northern Ireland do not pay double VAT on goods purchased in the UK.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
For the majority of businesses trading with and in Northern Ireland, VAT continues to be accounted for in much the same way as when trading with the rest of the UK.
The government is confident that its implementation of the Northern Ireland Protocol for VAT mitigates the risk of double taxation in Northern Ireland.
Northern Ireland is, and will remain, part of the UK’s VAT system.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, To ask the Chancellor of the Exchequer, whether he intends to announce changes to the rates of (a) Income Tax, (b) National Insurance, (c) VAT and (d) excise duties in the (i) Spring Budget 2023 or (ii) Medium-Term Fiscal Plan on 31 October 2022.
Answered by Richard Fuller
The Chancellor has announced that the measures in the Growth Plan 2022 to freeze Alcohol Duty and introduce a VAT-free shopping scheme for international tourists will not be taken forward. In addition, the basic rate of Income Tax will remain at 20% indefinitely.
The government will set out further reforms to improve fiscal sustainability at the Medium-Term Fiscal Plan on 31 October.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the sales figures for hospitality broken down by (a) food, (b) alcohol and (c) non-alcoholic drinks in each month since the introduction of the reduction in VAT.
Answered by Jesse Norman
The information is not available. Most businesses submit VAT returns to HM Revenue and Customs quarterly, and quarterly returns are for differing accounting periods. Businesses are not required to provide figures for different products or services on their VAT returns, as this would impose an excessive administrative burden.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has undertaken an assessment of the effect of the reduction in VAT on the hospitality sector.
Answered by Jesse Norman
In order to support the cash flow and viability of about 150,000 businesses and to protect over 2.4 million jobs, the Government has applied a temporary reduced rate of VAT (5 per cent) to goods and services supplied by the tourism and hospitality sectors, which will now end on 30 September 2021. On 1 October 2021, a new reduced rate of 12.5 per cent will be introduced for these goods and services to ease affected businesses back to the standard rate. The new rate will end on 31 March 2022.
This relief is estimated to be worth over £7 billion to the tourism and hospitality sectors.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 1 March 2021 to Question 156398 on Freezing of Assets: Libya, how the Libyan frozen assets described in that Answer are divided up into shares, bonds, property, cash, gold and other asset classes; and if he will list the top 10 institutions which manage those funds.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Each year OFSI carries out a review of frozen assets held by UK institutions. Anyone who holds frozen assets (including funds and economic resources) is required to report them to OFSI.
Economic resources means assets of every kind, whether tangible or intangible, movable or immovable (such as goods, property or rights) which are not funds themselves but which can be used to obtain funds, goods or services. Funds means financial assets and benefits of every kind, including but not limited to:
• cash, cheques, claims on money, drafts, money orders and other payment instruments
• deposits with financial institutions or other entities, balances on accounts, debts and debt obligations
• loans and mortgages
• publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts
• interest, dividends or other income on or value accruing from or generated by assets
• credit, right of set-off, guarantees, performance bonds or other financial commitments
• letters of credit, bills of lading, bills of sale
• documents evidencing an interest in funds or financial resources
• any other instrument of export-financing
The aggregate figure of funds frozen under the Libya regime as at September 2019 was approximately £11.809 billion. However, the Treasury does not break down the return data by category and institution in the manner requested.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate the Office of Financial Sanctions has made of the aggregate value of Libyan frozen funds held by UK institutions in the past 10 years.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Since its establishment in 2016, the Office of Financial Sanctions Implementation (OFSI) has undertaken an annual frozen asset review, requiring all persons or institutions that hold or control frozen assets in the UK to report to OFSI, from which the following figures are taken.
The figures are each an approximate total value of frozen Libyan assets in the UK. The figures for the 2020 Frozen Asset Review are still being finalised, and will be published in OFSI’s Annual Review later this year.
September 2017 £12.061 billion
September 2018 £11.222 billion
September 2019 £11.809 billion
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much interest has been generated from frozen Libyan assets held in the UK in each of the last 10 years.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Treasury does not hold information on the total interest that has accrued on Libyan frozen assets.
The Office of Financial Sanctions Implementation (OFSI) undertakes an annual frozen asset review requiring all persons or institutions that hold or control frozen funds in the UK to report to OFSI. OFSI’s published Annual Review provides an aggregate figure for the value of Libyan frozen funds held by UK institutions. However, there is no requirement for banks to report interest separately in the annual returns on frozen assets they provide to OFSI.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether businesses in the retail supply chain are eligible for business rates relief.
Answered by Jesse Norman
This year the Government has provided an unprecedented business rates holiday for eligible retail, hospitality and leisure properties due to the direct adverse effects of COVID-19, worth about £10 billion, and has frozen the business rates multiplier for all businesses for 2021-22.
Business rates are devolved in Northern Ireland and so are a matter for the Northern Ireland Executive.
Asked by: Ian Paisley (Democratic Unionist Party - North Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to extend the Coronavirus Job Retention Scheme for the travel sector.
Answered by Jesse Norman
The Government has been clear that as the economy reopens, the Government will support people back into work. On 12 May, the Government announced that the Coronavirus Job Retention Scheme (CJRS) would be extended for four months, until the end of October.
On 29 May, the Chancellor announced plans for introducing employer contributions into the CJRS, while ensuring that employees continue to receive 80% of regular wages while furloughed.
In June and July, the Government will pay 80% of wages up to a cap of £2,500 as well as employer National Insurance Contributions (ER NICs) and pension contributions for the hours the employee does not work. Employers will have to pay employees for the hours they work.
In August, the Government will pay 80% of wages up to a cap of £2,500 and employers will pay ER NICs and pension contributions for the hours the employee does not work.
In September, the Government will pay 70% of wages up to a cap of £2,187.50 for the hours the employee does not work. Employers will pay ER NICs and pension contributions and 10% of wages to make up the 80% total, up to a cap of £2,500.
In October, the Government will pay 60% of wages up to a cap of £1,875 for the hours the employee does not work. Employers will pay ER NICs and pension contributions and 20% of wages to make up the 80% total, up to a cap of £2,500.
The cap will be proportional to the hours not worked.