Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on tax receipts of consumers choosing to buy items online from non-UK domiciled firms.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC has estimated the amount of VAT foregone by sellers on online marketplaces was between £1bn and £1.5bn in 2016-17, and is attributed to both UK-based and overseas sellers.
Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with Cabinet colleagues on HMRC using internet service provider data to calculate and process sales tax on goods bought by consumers.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
In line with the practice of successive administrations, details of ministerial discussions are not normally disclosed.
Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential merits of HMRC using internet service provider data to calculate and process (a) VAT and (b) corporation tax.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC has a comprehensive set of data-gathering powers which it uses for a range of compliance and operational purposes. They gather data from a range of intermediaries and third parties, operating both online and in the traditional economy. HMRC keeps both its powers and its use of them under review.
Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what representations he has received from civil society organisations on HMRC using internet service provider data to calculate and process sales tax on goods bought by consumers.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
The Government receives a large number of representations from a wide range of organisations as part of the policy development process.
Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether universities will have access to European Investment Bank loans to finance large-scale innovative projects after the UK has left the EU.
Answered by Steve Barclay
The question concerns the future relationship between the UK and the European Investment Bank (EIB). This is something that will be determined as part of the negotiations on the UK’s exit from the EU and the Government will not be giving a running commentary on these negotiations.
However, in his Mansion House speech on 20 June the Chancellor said that; “In the long-term, it may be mutually beneficial to maintain a relationship between the UK and the EIB after we leave the EU.” The EIB has been an important source of investment in the UK but the government has also committed to ensuring that finance continues to be available to borrowers and investors after the UK leaves the EU, irrespective of the outcome of the negotiations. This includes the expansion in June of the UK Guarantee Scheme which will offer construction guarantees for the first time. The government has also raised the limit on the amount the British Business Bank can invest in venture capital funds from 33% up to 50% and will bring forward some of the £400m of additional investment announced at Autumn Statement 2016.
Asked by: Stephen Gethins (Scottish National Party - Arbroath and Broughty Ferry)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that universities with European Investment Bank loans are not affected by changes in the legal terms of their loans as a result of the UK leaving the EU.
Answered by Steve Barclay
Contracts signed between the European Investment Bank (EIB) Group and UK counterparties are matters for the parties. They do not contain any provisions relating to the departure of a member state from the EU. The UK is in the process of negotiating what its future relationship with the EIB will be, but the government is clear that the UK’s exit from the EU on its own does not change existing EIB Group contracts with UK counterparties.