Asked by: Karen Lee (Labour - Lincoln)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to reduce VAT on safety products and services.
Answered by Mel Stride - Secretary of State for Work and Pensions
The government keeps all taxes under review and any future decisions on VAT will continue to be taken in line with the normal Budget process.
The government does not hold information on VAT revenues that can be broken down to assess the cost of reducing VAT on safety products.
The government does make available some VAT reliefs for certain safety products including a zero rate of VAT for installations as part of the construction of new residential buildings and a reduced rate for installations as part of a residential conversion.
Asked by: Karen Lee (Labour - Lincoln)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has estimated the cost to the public purse of reducing VAT on safety products and services from 20 per cent to 5 per cent; and if he will make a statement.
Answered by Mel Stride - Secretary of State for Work and Pensions
The government keeps all taxes under review and any future decisions on VAT will continue to be taken in line with the normal Budget process.
The government does not hold information on VAT revenues that can be broken down to assess the cost of reducing VAT on safety products.
The government does make available some VAT reliefs for certain safety products including a zero rate of VAT for installations as part of the construction of new residential buildings and a reduced rate for installations as part of a residential conversion.
Asked by: Karen Lee (Labour - Lincoln)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of the service provided by the Financial Ombudsman Service to victims of identity fraud.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government recognises that it is vitally important that the Financial Ombudsman Service (FOS) is accountable for the performance and quality of its work. The FOS answers to a Board of Directors, appointed by the Financial Conduct Authority (FCA), and must make a report each year on the discharge of its functions.
Whilst the FOS can investigate a range of complaints, it may not be able to consider some complaints involving identity fraud if these fall outside of its jurisdiction, which is set out in the FCA’s Dispute Resolution (DISP) rules.
The Information Commissioner’s Office (ICO) provides guidance to victims of identity fraud on its website.
Asked by: Karen Lee (Labour - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the clarity of Government guidance for private companies on the charging of VAT on loans.
Answered by Mel Stride - Secretary of State for Work and Pensions
Guidance on the VAT treatment of loans and other credit is set out in “VAT Notice 701/49: finance”, available on the gov.uk website. As provided for in the VAT Act 1994, the guidance sets out that loans and grants of credits are exempt from VAT.