Results 181–200 of 1212 for speaker:Lord Deighton

Written Answers — House of Lords: Business: Taxation (15 Dec 2014)

Lord Deighton: The amendment to Article 1 of the Parent Subsidiaries Directive introduces an anti-abuse measure, which requires Member States to withdraw the benefits of the Directive with respect to tax arrangements, where gaining a tax advantage through exploiting the Directive is a main purpose. UK officials have worked successfully to incorporate UK changes into the text. These ensure that the rule is...

Written Answers — House of Lords: Community Amateur Sports Clubs Scheme (15 Dec 2014)

Lord Deighton: The Government has decided to proceed with a single set of rules to apply to all clubs following detailed consultation across the sector. A single set of rules setting out clear tests will make it simpler and easier for clubs to understand and comply with their responsibilities. The rules are as simple as possible, bearing in mind they apply to almost one hundred different sports, operating...

Written Answers — House of Lords: EU Budget: Contributions (15 Dec 2014)

Lord Deighton: The European Commission are responsible for calculating Member State contributions to the EU Budget using data provided by Eurostat, who collate and validate the data from Member States’ national statistical institutions, including for the UK the Office for National Statistics. The Prime Minister has been clear that it was completely unacceptable for the European Commission to demand a...

Written Answers — House of Lords: Financial Services: Taxation (15 Dec 2014)

Lord Deighton: The UK is not participating in the Financial Transaction Tax (FTT) proposed to be adopted by 11 EU member states. The Government strongly objects to certain extraterritorial aspects of the European Commission’s proposal, which in our view breach EU Treaty requirements. While any eventual FTT is likely to be significantly narrower in scope than the current proposal the Chancellor has been...

Written Answers — House of Lords: Taxation (15 Dec 2014)

Lord Deighton: Individuals’ personal allowance is shown as a tax free amount on their annual tax summary. The income tax calculation shows the taxable income above individuals’ personal allowance, payable at each tax rate.

Written Ministerial Statements — House of Lords: Asset Resolution (Consumer Credit Act) (11 Dec 2014)

Lord Deighton: My hon Friend the Economic Secretary (Andrea Laedsom)) has today made the following written ministerial statement. In February 2008, under the previous Government, Northern Rock was nationalised due to the financial crisis. In January 2010 the previous Government restructured the activities of Northern Rock between Northern Rock plc, a newly created company which was subsequently sold to...

Written Answers — House of Lords: Banks (10 Dec 2014)

Lord Deighton: The Government does not collect information relating to bank branch closures. Part of the Government’s long term economic plan is to ensure that banks serve all sections of society. The Government is committed to increasing competition to deliver innovation and good financial products and services for all bank customers. The Economic Secretary to the Treasury recently chaired a roundtable...

Written Answers — House of Lords: Self-employed (10 Dec 2014)

Lord Deighton: The number of individuals filing a self-employment schedule in their Self Assessment tax returns for the year 2011-12 is estimated at 5.49 million. The annual turnover of these individuals in 2011-12 is estimated at £296 billion. These estimates are based on the Survey of Personal Incomes (SPI) for the year 2011-12. Further information about the self-employed is available in HMRC’s...

Written Answers — House of Lords: Banks: Finance ( 9 Dec 2014)

Lord Deighton: HM Treasury does not collect any data on the sale of contingent convertible bonds by banks regulated by the Prudential Regulation Authority, and does not currently have any plans to do so.

Written Answers — House of Lords: Financial Services ( 9 Dec 2014)

Lord Deighton: The government is committed to ensuring that customers are treated fairly when they make investment decisions and are able to get the best outcomes from their investments. Ensuring that customers can easily understand and compare products is an important part of this. The Government noted the Financial Services Consumer Panel’s contribution to the debate on these issues, including...

Written Answers — House of Lords: Financial Services ( 9 Dec 2014)

Lord Deighton: This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. This question has been passed on to the FCA. They will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.

Written Answers — House of Lords: Financial Services ( 9 Dec 2014)

Lord Deighton: The UK already has a comprehensive anti-money laundering and counter financing of terrorism regime. The international money laundering standards set by the Financial Action Task Force form the basis of EU legislation, which is incorporated into various pieces of UK law, predominantly the Money Laundering Regulations (2007) and the Proceeds of Crime Act (2002), both of which apply to financial...

Written Answers — House of Lords: Occupational Pensions ( 9 Dec 2014)

Lord Deighton: Compensation levels in the investment management industry are already governed by the Remuneration Code (“the Code”) which is part of the FCA Handbook. Investment firms must ensure that their remuneration policies do not encourage staff to sell inappropriate products or give rise to a conflict of interest. Firms are also required to ensure that remuneration is structured through an...

Written Answers — House of Lords: Taxation ( 9 Dec 2014)

Lord Deighton: Tax evasion is illegal activity, where registered individuals or businesses deliberately omit, conceal or misrepresent information so they can reduce their tax liabilities. Tax avoidance is exploiting the tax rules to gain a tax advantage that Parliament never intended. It often involves contrived, artificial transactions that serve little or no commercial purpose other than to produce a tax...

Written Answers — House of Lords: World War I: Debts ( 9 Dec 2014)

Lord Deighton: At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or...

Written Answers — House of Lords: EU Internal Trade ( 8 Dec 2014)

Lord Deighton: The adopted EU Annual Budget for 2014 allocates €63.5 million to ‘Administrative expenditure of the ‘Internal Market and Services’ policy area’. This amounts to around 0.05% of the total adopted EU Annual Budget for 2014. This information is available in Chapter 12 of the EU Annual Budget 2014.

Written Answers — House of Lords: Taxation: EU Action ( 8 Dec 2014)

Lord Deighton: Protecting the UK’s tax sovereignty in the EU, by ensuring that all tax decisions by the Member States are agreed by unanimity, is a red line for the UK. This ensures that EU tax policy takes into account Member States’ individual economic circumstances, and that the UK can veto proposals that would, for example, damage economic growth. That said, we are keen to support those proposals...

Written Answers — House of Lords: EU External Trade: Tunisia ( 5 Dec 2014)

Lord Deighton: Following the signing of an Association Agreement with the EU in 1995, the import Tariffs on industrial products originating from Tunisia have been eliminated. The same Agreement also resulted in greater liberalisation in the Tariffs on agricultural and fishery products. A preparatory process for launching negotiations on a Deep and Comprehensive Free Trade Area (DCFTA) is on-going.

Written Answers — House of Lords: Financial Services: ICT ( 5 Dec 2014)

Lord Deighton: Responsibility for information technology infrastructure in the UK finance sector is primarily for the firms themselves. The Financial Authorities have a role to play in supporting, coordinating and driving change to improve the operational resilience of the sector. In addition to on-going supervisory oversight of technology risk within firms by the Authorities, the Financial Conduct...

Written Answers — House of Lords: Financial Services: Regulation ( 5 Dec 2014)

Lord Deighton: The rules governing short selling are set out in the Short Selling Regulation (SSR) - a directly applicable EU regulation which entered into force on 1 November 2012. Article 45 of the Regulation requires the European Commission to carry out a review of the Regulation. The European Commission published a report in December 2013 setting out its findings. That review concluded that “…it is...

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