Taxation: Domicil

(asked on 11th October 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the cost to the public purse was of business investment relief in (a) 2013, (b) 2014, (c) 2015 and (d) 2016.


Answered by
Mel Stride Portrait
Mel Stride
Secretary of State for Work and Pensions
This question was answered on 16th October 2017

As the external Office for Budget Responsibility confirmed, there is no cost to the public purse of Business Investment Relief. Foreign income invested using Business Investment Relief would otherwise have been left offshore and not subject to UK tax.

The current amount that has been invested in the UK using Business Investment Relief is given in the table below:

Tax Year

Total amount of investment

2012-13

£197m

2013-14

£549m

2014-15

£837m

This information and further details on business investment relief can be found in Table 6 of ‘Statistics on Non-domiciled Taxpayers in the UK,’ on the gov.uk website (https://www.gov.uk/government/statistics/statistics-on-non-domiciled-taxpayers-in-the-uk).

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