Contributions
577 recent contributions in Hansard
HANSARDFinance Bill (Second sitting)Currently, a person who is UK resident but not UK domiciled pays tax on any UK income and gains but can choose for their non-UK income and gains to be taxed on a remittance basis.…28 Jan 2025HANSARDFinance Bill (First sitting)As the Minister set out, clauses 5 and 6 set the appropriate percentage used for calculating the taxable benefit for a company car for tax years 2028-29 and 2029-30. In those tax…28 Jan 2025HANSARDFinance Bill (Second sitting)Clause 31 and schedule 6 alter the conditions for obtaining tax reliefs for employee ownership trusts. The current regime was introduced by a Conservative Government, following…28 Jan 2025HANSARDFinance Bill (Second sitting)Clause 43 and schedule 12 mirror the proposals that we set out in March 2024. The Minister will therefore be very pleased to hear that I have not picked up any significant…28 Jan 2025HANSARDFinance Bill (Second sitting)As the Minister said, clause 40 and schedule 9 abolish the remittance basis of taxation for foreign income and gains from 2025-26. Clause 41 and schedule 10 create a temporary…28 Jan 2025HANSARDFinance Bill (First sitting)As the Minister set out, clauses 13 and 14 set the charge and rates of corporation tax for financial year 2026. The main rate remains unchanged at 25%, with the standard small…28 Jan 2025HANSARDFinance Bill (Second sitting)As the Minister set out, clauses 44 to 46 and schedule 13 bring inheritance tax into the residence-based system so that it applies to non-UK assets owned outright or held in…28 Jan 2025HANSARDFinance Bill (Second sitting)To clarify, the point I am trying to make is that the Minister is rightly trying to ensure that this new regime makes the UK as competitive as possible so that assets flow into…28 Jan 2025HANSARDFinance Bill (Second sitting)Where it has gone wrong is that the Labour party said pre-election that it would not increase national insurance, but has now gone back on that. Labour said it would not hit…28 Jan 2025HANSARDFinance Bill (Second sitting)Clause 57 fixes the inheritance tax thresholds at their current levels for a further two tax years, as the Minister set out. The nil-rate band, which remains fixed at £325,000,…28 Jan 2025HANSARDFinance Bill (Second sitting)That is a very good point—if only I had included it in my speech. That is a classic example of an intervention that adds to the content of the debate on behalf of all those who…28 Jan 2025HANSARDFinance Bill (First sitting)These sittings are long, but I did say at the beginning of my speech that we announced in March 2024 that we would bring in this same measure and that we will support it today. I…28 Jan 2025HANSARDFinance Bill (Second sitting)As the Minister set out, clauses 26 to 28 create an additional relief for video effects expenditure while making administrative changes to align audiovisual and video games…28 Jan 2025HANSARDFinance Bill (Second sitting)I am afraid I have not taken the time to read the academic reports, but I greatly value and emphasise the work of the OBR, which the Conservatives established in government. The…28 Jan 2025HANSARDFinance Bill (First sitting)I will intervene anyway. As I said, any certainty that can be provided to businesses regarding the tax system is a good thing. The point I am trying to make—I will try again—is…28 Jan 2025HANSARDFinance Bill (First sitting)Oh, so it was more of a heckle than an intervention, but that is very welcome too; it makes it a bit more lively for the very large audience we have today. I would be grateful if…28 Jan 2025HANSARDFinance Bill (First sitting)As the Minister set out, clauses 23 and 24 extend the availability of the 100% first-year allowance for business expenditure on zero emission cars and for expenditure on plant or…28 Jan 2025HANSARDFinance Bill (First sitting)I am sorry, but there was a very loud cough when the hon. Lady intervened. Would she repeat her intervention?28 Jan 2025HANSARDFinance Bill (First sitting)Does the Labour Member who is about to intervene on me support holiday lets?28 Jan 2025HANSARDFinance Bill (First sitting)It is clear that the Government have launched an attack on farmers across rural communities in our country. The family farm tax is a disgrace. Farmers have protested and tried to…28 Jan 2025