Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 28 February 2024 to Question 15211 on Mortgages: Misrepresentation, what redress is available to people missold shared appreciation mortgages not covered by Financial Ombudsman Service rules.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Financial Conduct Authority (FCA), which is operationally independent of Government, has responsibility for the conduct regulation of shared appreciation mortgages. The FCA sets the rules regarding the information that must be disclosed before, during and after sale of mortgages and, in addition, the jurisdiction of the Financial Ombudsman Service (FOS).
Products like shared appreciation mortgages have been regulated since 2004 when wider mortgage regulations were first introduced, however a consumer’s right to pursue redress through legal channels is unaffected by the jurisdiction of the FOS. Anyone considering this option should consider seeking independent legal advice.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an estimate of the potential impact of increases in the cost of (a) live music and (b) theatre tickets in the last 12 months on inflation.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The independent Office for National Statistics is responsible for producing and publishing inflation figures. Information on price changes for cultural services can be found here: Consumer price inflation tables - Office for National Statistics
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to HMRC's policy paper entitled Clarifications of the rules for cultural tax reliefs, updated on 22 November 2023, what assessment he has made of the potential impact of the proposed changes to section 1217FA of the Corporation Tax Act 2009 on (a) immersive and (b) experiential experimental work.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Provided immersive or experimental productions meet all the qualifying criteria for theatrical productions as set out in Section 1217FA of the Corporation Tax Act 2009, they should be entitled to Theatre Tax Relief.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department approved the Cabinet Office’s decision to award a legal services contract to Peters & Peters in relation to the Privileges Committee investigation into the Rt Hon Member for Uxbridge and South Ruislip.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
No, HM Treasury is not required to sign off all spending decisions made by individual departments. The authorisation of funds was agreed by the Cabinet Office and followed appropriate procurement processes.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 February 2022 to Question 142738 on Stamp Duty Land Tax, if he will make an assessment of the potential impact of applying the discount up front on the number of properties homebuyers will have to choose from.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
Stamp Duty Land Tax (SDLT) is a transaction tax and becomes payable at the time a property is purchased. The tax has to be able to apply in a range of different situations.
The Government has no plans at present to change the SDLT higher rates exceptional circumstances provisions, but it keeps all tax policy under review.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of applications to HMRC for discretionary refunds of the higher rate of Stamp Duty Land Tax were accepted for people who own properties in buildings with issues with external wall cladding.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
HM Revenue & Customs does not record the number of refunds of the higher rates of SDLT made in relation to issues with external wall cladding.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to prevent tax rebate companies from taking a proportion of money owed to a person in a tax rebate.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
Individuals can claim tax repayments directly from HMRC, which has introduced new digital services to make this easier. If they claim directly, as many individuals do, they get to keep the full amount of the payment they are due.
Around 500,000 individuals use third-party repayment agents annually to claim tax refunds. Many individuals value this service, understand and accept the fee structure, and are repeat users. The government recognises this and does not want to prevent individuals who want to use repayment agents from doing so.
However, the government recognises concerns that some individuals are being charged excessive fees, and that the terms and conditions under which services are provided have not been made clear.
The government launched a consultation “Raising standards in tax advice: protecting customers claiming tax repayments” on 22 June 2022, which proposes measures to protect the public from unscrupulous repayment agent practises. This consultation will close on 14 September 2022. This forms part of the government’s agenda to raise standards in the market for tax advice.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to speed up the time it takes for goods from the EU entering the UK to go through border checks and customs.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The 2025 UK Border strategy sets out the Government’s vision for the UK border to be the most effective border in the world. At its core, the strategy is about making it as straightforward as possible for businesses to comply with customs requirements whilst keeping the UK safe and protecting our fiscal interests. To do that, the Government are embracing innovation and technology. This includes investing £180 million to build a UK Single Trade Window which will streamline how traders share information with the Government.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of reviewing the rates of tax relief on vehicle mileage for work vehicles.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Government sets the Approved Mileage Allowance Payments (AMAPs) rates to minimise administrative burdens. AMAP rates aim to reflect running costs including fuel, servicing and depreciation. Depreciation is estimated to constitute the most significant proportion of the AMAP rate.
Employers are not required to use the AMAPs rates. Instead, they can agree to reimburse the actual cost incurred, where individuals can provide evidence of the expenditure, without an Income Tax or National Insurance charge arising.
Alternatively, they can choose to pay a different mileage rate that better reflects their employees’ circumstances. However, if the payment exceeds the amount due under AMAPs, and this results in a profit for the individual, they will be liable to pay Income Tax and National Insurance contributions on the difference.
The Government keeps this policy under review.
Asked by: Thangam Debbonaire (Labour - Bristol West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what progress has been made on implementing the recommendations of the Morse Review into the Loan Charge; and what work remains outstanding.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The Government announced the Loan Charge at Budget 2016, deciding that the Loan Charge is the right way to tackle and draw a line under the use of Disguised Remuneration (DR) schemes.
The Independent Loan Charge Review was led by Lord Morse in 2019. The Review drew upon all the available evidence and expert advice to consider the appropriateness of the Loan Charge as a policy response and its impact on individuals, reflecting the main concerns that had been raised by MPs and campaigners.
The Government recognised the concerns raised by the Review and accepted 19 of the Review’s 20 recommendations. The Government implemented a number of changes to the Loan Charge, which were enacted in Finance Act 2020.
On 3 December 2020, HMRC published a full report to Parliament on the implementation of the review recommendations. This report set out how HMRC had delivered the 19 recommendations which were accepted by the Government.