Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the average cost of processing a gift aid claim on charitable donations was in the last year for which data is available.
Answered by Robert Jenrick
The average cost to HMRC of processing a Gift Aid claim based on the data available for the tax year 2017-18 is less than £3 per claim. The total cost of processing Gift Aid claims is less than 0.1% of the total amount of Gift Aid repaid in 2017-18. A Gift Aid claim from a charity or a Community Amateur Sports Club can include any number of individual donations.
Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much LIBOR funding he has yet to allocate.
Answered by Elizabeth Truss
The LIBOR grant scheme was closed following the announcement of the final tranche of funding at Autumn Budget 2017. All LIBOR fines received from the Financial Conduct Authority have been committed.
Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential financial effect on charities of his Department's Making Tax Digital scheme; and if he will make an assessment of the potential merits of exempting charities from liability for VAT.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
The Government is firmly committed to helping charities and the voluntary sector and recognizes the important role they play in communities all across the UK. There is a range of generous tax reliefs to the sector worth more than £5bn, including VAT reliefs.
Following extensive consultation the Government has announced that for direct tax purposes charities will be exempt from the Making Tax Digital requirements, but that trading subsidiaries of charities will not be. In the interests of parity of treatment across all businesses, where a charity is liable to be registered for VAT and has taxable turnover above the VAT threshold, the Making Tax Digital requirements for VAT will apply.
Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much funding will be available in the next round of Libor funding for charities.
Answered by Elizabeth Truss
The amount of funding available in the next round of Libor funding for charities (LIBOR 2017) will be confirmed once all applications for funding support have been received. The application window closes on 25 August 2017; full details of the scheme and the application form can be found at the following link: https://www.gov.uk/government/publications/libor-funding-applications
Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, for what reasons no funds from Libor fines were allocated in the Spring Budget 2017.
Answered by David Gauke
The governance of LIBOR Grants complies fully with the mandated requirements of the ‘Minimum Standards for Government Grants’ which came into force on 1st December 2016. The details of any future LIBOR grants scheme open for public application will be published on the gov.uk website and advertised widely through social media and across the charity sector. All applications that meet the published criteria will be considered fully.
No funds from Libor fines were allocated in the Spring Budget 2017 due to insufficient time being available between the Autumn Statement 2016 and the Budget, in which to conduct mandated due diligence on the significant number of applications anticipated.
Asked by: Steve Reed (Labour (Co-op) - Streatham and Croydon North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that charities are able to bid more effectively and transparently for any future allocation of funding from Libor fines.
Answered by David Gauke
The governance of LIBOR Grants complies fully with the mandated requirements of the ‘Minimum Standards for Government Grants’ which came into force on 1st December 2016. The details of any future LIBOR grants scheme open for public application will be published on the gov.uk website and advertised widely through social media and across the charity sector. All applications that meet the published criteria will be considered fully.
No funds from Libor fines were allocated in the Spring Budget 2017 due to insufficient time being available between the Autumn Statement 2016 and the Budget, in which to conduct mandated due diligence on the significant number of applications anticipated.