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Written Question
Small Businesses: VAT
Monday 25th July 2022

Asked by: Tim Farron (Liberal Democrat - Westmorland and Lonsdale)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of temporarily increasing the VAT taxable turnover threshold from £85,000 to help small businesses with the rise in the cost of living.

Answered by Lucy Frazer

The UK has the highest VAT registration threshold in the OECD and as compared to EU Member States at £85,000. This keeps the majority of UK businesses out of VAT altogether.

Whilst the Government keeps all taxes under review, it was announced at Budget 2021 that the VAT threshold will be maintained at its current level of £85,000 until 31 March 2024.

Speech in Commons Chamber - Tue 28 Jun 2022
Oral Answers to Questions

"I hope the Minister is aware that one problem facing small and medium-sized employers in Cumbria and elsewhere, certainly in rural Britain, is a serious lack of workforce. Cumbria Tourism reported that 63% of its members last year had to operate below capacity because they could not find sufficient staff …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Oral Answers to Questions
Speech in Westminster Hall - Wed 25 May 2022
Cost of Living: Fiscal Approach

"It is a pleasure to serve under your chairmanship, Mr Twigg. I congratulate the hon. Member for Barnsley Central (Dan Jarvis) on his excellent opening remarks and on securing this debate.

There is a tide of poverty, terrifyingly large, growing in every single community in our country. I wonder what …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Cost of Living: Fiscal Approach
Speech in Commons Chamber - Tue 17 May 2022
Oral Answers to Questions

"After London, the Lake district is the most popular visitor destination in the United Kingdom, with 19 million visitors a year, yet its only direct rail link has a single track from the main line at Oxenholme to Windermere, known as the Lakes line. There is a proposal on the …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Oral Answers to Questions
Speech in Commons Chamber - Wed 23 Mar 2022
Financial Statement

"There appears to be no plan from the Chancellor, glossy or otherwise, for farming and food security. Is he aware that hundreds and hundreds of farmers are leaving the industry because of the botching of the transition from the old basic payment scheme to the new system? If he were …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Financial Statement
Speech in Commons Chamber - Tue 15 Mar 2022
Oral Answers to Questions

"In rural communities, especially Cumbria, we are deeply concerned about the Government’s apparent lack of concern about growth in the rural parts of this country. Is the Minister aware of the enormous damage being done to farming in the UK, just at the moment when we need our farmers the …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Oral Answers to Questions
Speech in Commons Chamber - Tue 08 Mar 2022
National Insurance Contributions Increase

"The hon. Lady is making an important speech. She is right that the national insurance rise will cripple families who are already struggling to get by, but does she agree that what makes it worse is that not a penny of the money raised will go into the hands of …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: National Insurance Contributions Increase
Speech in Commons Chamber - Tue 01 Feb 2022
Oral Answers to Questions

"10. What discussions he has had with Cabinet colleagues on the potential merits of increasing council tax on second homes. ..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Oral Answers to Questions
Speech in Commons Chamber - Tue 01 Feb 2022
Oral Answers to Questions

"Rural Britain’s housing crisis has become a catastrophe over the last two years of the pandemic. The Chancellor will know all about that, given the kind of constituency he represents. Some 80% of all house sales in the lakes and dales in Cumbria have been to the second home market, …..."
Tim Farron - View Speech

View all Tim Farron (LD - Westmorland and Lonsdale) contributions to the debate on: Oral Answers to Questions
Written Question
Second Homes: Council Tax
Thursday 27th January 2022

Asked by: Tim Farron (Liberal Democrat - Westmorland and Lonsdale)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will bring forward proposals to increase council tax by up to 100 per cent on second homes.

Answered by Lucy Frazer

It would not be appropriate to comment on the likelihood of future tax changes outside of fiscal events. However, the Government keeps all tax policy under review.

It is worth noting that purchases of second homes in England and Northern Ireland will be liable to pay the Higher Rates for Additional Dwellings Stamp Duty Land Tax surcharge. This was introduced in 2016 as part of the Government’s commitment to support first time buyers.