Results 101–120 of 1212 for speaker:Lord Deighton

Written Answers — HM Treasury: National Savings Bonds: Pensioners ( 9 Feb 2015)

Lord Deighton: The introduction of the 65+ “Pensioner” Bond has seen the biggest sale of any retail financial product in Britain’s modern history, with over £7.5 billion sold to date. Demand in the first few days was exceptionally high but tens of thousands of savers did successfully purchase bonds during this period, and hundreds of thousands have done so since. National Savings & Investments (NS&I)...

Written Answers — HM Treasury: Income Tax ( 9 Feb 2015)

Lord Deighton: Estimates of taxpayer numbers broken down by total income for the 2012-13 tax year are published in Table 3.3 of HMRC’s Personal Incomes statistics[1]. ------------------------------------------------------------ ------------------------------ [1] This publication is available at tatistics. Taxpayers broken...

Written Answers — HM Treasury: Tourism: Taxation ( 6 Feb 2015)

Lord Deighton: The Government has no plans to allow any Local Authority to introduce a tourist levy or tax.

Written Answers — HM Treasury: European Central Bank ( 6 Feb 2015)

Lord Deighton: The Treasury regularly monitors global economic developments, including those in the euro area, and their impact on the UK as part of the normal process of policy development. It is not for the Government to comment on the appropriate monetary policy stance for the euro area. Nonetheless, the Chancellor has made clear that the Government fully supports Mario Draghi’s efforts to...

Written Answers — HM Treasury: Fuels: Tax Evasion ( 5 Feb 2015)

Lord Deighton: HM Revenue and Customs (HMRC) fights fuel fraud on a wide range of fronts, from special units performing thousands of roadside checks to dismantling laundering plants. Additionally the UK will shortly implement an improved new marker for rebated fuel, which will make it much harder for criminals to launder marked fuel and sell it at a profit. The impact of this activity is shown by the fact...

Written Answers — HM Treasury: Money Lenders ( 5 Feb 2015)

Lord Deighton: The Government has fundamentally reformed regulation of the consumer credit market, including pawn broking. The Financial Conduct Authority’s (FCA) more robust regulatory regime will help to improve protection for consumers who use pawn brokers. The FCA requires firms to provide adequate pre-contractual explanation to consumers including making it clear to the consumer that, where an...

Written Answers — HM Treasury: Financial Markets ( 4 Feb 2015)

Lord Deighton: The Government sponsored the Foresight Project, which reported in 2012, to analyse the role of computer-based trading, including high frequency trading, in financial markets[1]. [1] r-trading-in-financial-markets-an-international-perspective

Written Answers — HM Treasury: Art Works ( 4 Feb 2015)

Lord Deighton: The art market in the UK is already regulated in so far as antique and fine art dealers that accept cash payments of €15,000 Euro or more in exchange for goods are considered ‘High Value Dealers’ and fall within the scope of the Money Laundering Regulations. This is because cash-intensive businesses are considered particularly susceptible to money laundering. High Value Dealers are...

Written Answers — HM Treasury: Income Tax ( 4 Feb 2015)

Lord Deighton: The Government have not made any changes to the rules on the distinctions for income tax purposes between employment and self-employment in the last five years. However the Government has taken action to address false self-employment both through intermediaries and limited liability partnerships (LLP), making changes that mean that a salaried member of an LLP will be treated as an...

Written Answers — HM Treasury: Wealth ( 3 Feb 2015)

Lord Deighton: Income inequality is now lower than when this Government came into office. Domestically we have invested heavily in HMRC to ensure that the wealthy pay the tax which they owe. Overall, the richest will pay more in tax this Parliament than under the previous Government’s plans and last year the top 1% of income taxpayers paid over 28% of income tax revenue, a higher proportion than at any...

Written Answers — HM Treasury: Holiday Accommodation: Greater London ( 3 Feb 2015)

Lord Deighton: Individual homeowners receiving rental income from letting their property (whether short-term or long-term) will be chargeable to income tax on the profits from that letting. The exception is where they are renting furnished accommodation in their only or main home, in which case the Rent-a-Room scheme allows them to receive tax-free rental income of up to £4,250 per year.

Written Answers — HM Treasury: Vat ( 2 Feb 2015)

Lord Deighton: In the Budget of June 2010 it was forecast that the VAT rate increase would raise £3bn in 2010-11, £12bn in 2011-12, and a further £13bn each year from 2012-13 to 2014-15. No current estimate has been made of how much the increase has yielded in each year since 2011.

Written Answers — HM Treasury: Orchestras: Tax Allowances ( 2 Feb 2015)

Lord Deighton: At Autumn Statement 2014, the government announced it would introduce a new tax relief for orchestras from April 2016. The government launched a consultation on 23 January 2015 to help inform the design of the relief. The value of the relief will depend on the final design and more detail will be set out later this year.

Written Answers — HM Treasury: EU Budget: Contributions ( 2 Feb 2015)

Lord Deighton: Last year, the UK was presented with a bill for an additional payment to the EU worth £1.7 billion, reflecting changes to economic data for all Member States and dating as far back as 2002 for the UK. The Prime Minister was clear that this sudden production of a bill to Britain for payment on the 1 December was completely unacceptable. EU Ministers met on the 7 November, and the...

Written Answers — HM Treasury: National Savings Bonds: Pensioners (29 Jan 2015)

Lord Deighton: There are no plans to enable eligible pensioners to take out the bonds in the name of a grandchild. These new market-leading savings bonds and are designed to help support those who rely on their savings in retirement. Low interest rates have played an important part in stimulating the recovery. But there are those – especially pensioners – who rely on a reasonable rate of interest on...

Written Answers — HM Treasury: Business: Loans (29 Jan 2015)

Lord Deighton: Business lending is not, and never has been, within the scope of the Financial Conduct Authority’s (FCA) conduct rules. The position that has traditionally been taken in the UK is that the terms and conditions of contracts between businesses (e.g. loans) are not generally prescribed by government. The government is committed to regulating only where there is a clear case for doing so, in...

Written Answers — HM Treasury: UK Trade with EU (28 Jan 2015)

Lord Deighton: HM Revenue & Customs (HMRC) is responsible for the collection of data on goods exported from and imported to the United Kingdom. UK trade data are published by HMRC in the Overseas Trade Statistics and Regional Trade Statistics publications, and via their dedicated website[1]. The volume of trade for each trade flow between the United Kingdom and the European Union by country is...

Written Answers — HM Treasury: Financial Services: Pay (27 Jan 2015)

Lord Deighton: The Government has taken a substantial number of measures to change the culture in UK banking. This Government supported the work of the Parliamentary Commission on Banking Standards which reported in June 2013 on professional standards and culture of the UK banking sector. Legislation to give effect to its recommendations on banking standards and individual accountability were included...

Written Answers — HM Treasury: Government Departments: Pensions (26 Jan 2015)

Lord Deighton: We can confirm that the £1,171.6 billion Government Employees Pensions liability is additional to the national debt. The WGA produce consolidated accounts of all public sector bodies based on internationally recognised accounting standards. The amount shown includes the pension liability for central government, local government, police, fire, teachers, NHS and Armed Forces staffs. It...

Written Answers — HM Treasury: Housing: Taxation (26 Jan 2015)

Lord Deighton: Stamp Duty Land Tax (SDLT) raised £9.4 billion in 2013-2014, of which £6.45 billion was from residential property transactions. Total SDLT receipts are expected to increase over the coming years, reaching £19.5 billion by 2019-2020 according to the Office for Budget Responsibility. This revenue would be foregone if SDLT was abolished. Robustly assessing the effect, including the financial...

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