Jane Ellison: Making Tax Digital for Businesses (MTDfB) will modernise the tax system and make it easier for businesses to get their tax right. A deferral of one year for unincorporated businesses below the VAT threshold was announced at Spring Budget 2017. The £10,000 threshold was set after considering evidence both about the size of the business population and about the composition of the tax gap. ...
Jane Ellison: HM Treasury Ministers receive written submissions from a wide range of stakeholders and all of these representations are taken into consideration as part of the policy making process. HM Treasury regularly publishes a list of Ministerial meetings with external organisations, which can be found at: www.gov.uk/government/collections/hmt-ministers-meetings-hos pitality-gifts-and-overseas-travel
Jane Ellison: Sixth form colleges generally make supplies that are outside the scope of VAT. They can also make both exempt and taxable supplies depending upon their individual circumstances. Any organisation that makes taxable supplies may choose to register for VAT, even if the annual value of those supplies is below the VAT registration threshold. An organisation must register for VAT if the annual...
Jane Ellison: The Government is at the forefront of global action to tackle harmful tax practices, through implementing the agreed Base Erosion and Profit Shifting project outcomes, the OECD’s new Common Reporting Standard (CRS), and the development of new beneficial ownership information standards. Thanks to UK leadership, all Crown Dependencies and Overseas Territories with financial centres have...
Jane Ellison: The Government is committed to improving air quality, and will consult on a detailed draft plan in the spring which will set out how we will achieve our air quality goals. Alongside this, at Spring Budget 2017, the Chancellor announced that the Government will continue to explore the appropriate tax treatment for diesel vehicles.
Jane Ellison: The Government has set out its objective for a comprehensive and effective model of public country-by-country reporting that is agreed on a multilateral basis, to improve transparency over businesses’ tax affairs and restore public trust in the tax system. The UK will continue to work with international partners on that objective. This includes our continued participation in the discussions...
Jane Ellison: The Government has set an ambition of having the lowest rate of corporation tax in the G20, and by cutting to 17% by 2020 we are delivering this. The Government has no plans to reduce the rate any further but it needs to maintain the flexibility to take the necessary steps to ensure the UK economy remains strong and competitive. As well as being competitive, taxes must be fair and paid. This...
Jane Ellison: In 2014-15, 550,000 women and 1,855,000 men had profits that were liable for Class 4 National Insurance contributions (NICs). In 2014-15, the average annual amount paid by women was £1,120, and the average amount paid by men was £1,300. The average annual amount paid overall was £1,260. This data is based on the Survey of Personal Incomes in 2014-15, the latest period in which figures...
Jane Ellison: From April 2015, individuals aged 55 or over have had the option to flexibly access their pension. The latest estimate of the tax revenue from the introduction of pensions flexibility was set out in the Office for Budget Responsibility’s Economic and Fiscal Outlook in March 2017[1]. This stated, in paragraph A.23, that £1.5 billion of tax revenue was received from pension flexibility in...
Jane Ellison: HM Treasury does not keep this information in the form requested. However, based on HM Revenue and Customs’ ‘Direct Effects of Illustrative Tax Changes’, a published document, the approximate costs to the Exchequer in 2017-18 would be: Increasing the primary NICs threshold to £11,500 would cost approximately £15bn a year; Increasing the secondary NICs threshold to £11,500 would...
Jane Ellison: The Government receives a wide range of representations on Employee Benefits Trusts. It is not normal practice to release details of representations while particular enquiries are ongoing.
Jane Ellison: Class 4 National Insurance contributions are estimated to be paid by 2,100 people in Coventry South and 170,000 people in the West Midlands. These figures are based on the 2014-15 Survey of Personal Incomes.
Jane Ellison: Total tax receipts for Avgas and Avtur from 2009-10 are shown in the table below: Year Avgas (£m) Avtur (£m) 2009/10 9.1 0.1 2010/11 9.3 0.1 2011/12 9.4 0.1 2012/13 7.6 0.1 2013/14 7.7 0.1 2014/15 7.8 0.2 2015/16 7.7 0.2
Jane Ellison: The Government considered various options on how to support English regional airports against the impacts of Scottish devolution as part of the consultation “Options for supporting English regional impacts of air passenger duty devolution”. There was no stakeholder consensus for a structural change to the way that Air Passenger Duty (APD) is levied. The Government response to the...
Jane Ellison: Information is not collected from tax credit claimants about whether couples are married or in a civil partnership, as opposed to cohabiting without such an arrangement.
Jane Ellison: The OBR forecast that the sterling depreciation would put upward pressure on inflation. But, Scotland is facing this inflationary challenge from a position of strength. Median weekly household income is higher in Scotland than the UK average. Since 2010, productivity in Scotland has risen the second fastest of all the UK nations and regions - and boosting productivity is crucial for creating...
Jane Ellison: All taxpayers with incomes below £100,000 will currently receive an income tax personal allowance, and therefore will have benefitted from the sustained increases to this allowance since 2010. Next month, the personal allowance will rise to £11,500, cutting income tax for 31 million people, including taking 1.3 million of the lowest paid out of income tax altogether, compared to 2015-16....
Jane Ellison: HM Revenue and Customs does not hold data on fines for late payment of VAT bills split by local authority area.
Jane Ellison: Advice from HM Treasury officials to ministers was released on 30 September 2016 in response to a Freedom of Information request. The advice provides background to the decision to exclude energy generation as a qualifying activity in the venture capital schemes and Social Investment Tax Relief (SITR). The advice, dated 15 October 2015, stated that around 200 community energy schemes had...
Jane Ellison: The Government is supportive of efforts to improve tax transparency. It initiated the international work on country-by-country reporting, calling on the OECD to develop country-by-country reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) Project. The Government has been actively engaged with international partners on a multilateral approach to making this...
