Contributions
1,562 recent contributions in Hansard
HANSARDFinance Bill (Second sitting)The shadow Minister alleges that there is some discrepancy on this side of the Committee; I feel like there is some discrepancy within his own views. I return to the central point…28 Jan 2025HANSARDFinance Bill (Second sitting)That was a fairly wide-ranging response from the shadow Minister to what is quite a straightforward clause. I could not help but notice that he began by saying that he supported…28 Jan 2025HANSARDFinance Bill (Second sitting)Broadly speaking, the reason why we have had to take a number of decisions, including some of the more difficult decisions in the Budget, is the fiscal inheritance from the…28 Jan 2025HANSARDFinance Bill (Second sitting)The clause makes changes to the inheritance tax thresholds so that they continue at the current levels in 2028-29 and 2029-30. Subject to reliefs and exemptions, inheritance tax…28 Jan 2025HANSARDFinance Bill (Second sitting)I will attempt to link that question to inheritance tax thresholds. I am thinking rapidly on my feet and struggling somewhat. With your permission, Mr Mundell, I will respond…28 Jan 2025HANSARDFinance Bill (Second sitting)I thank the hon. Gentleman for his support on this matter. He asked about the receipts from ATED. The most recent figures are from 2022-23 and show £124 million of receipts from…28 Jan 2025HANSARDFinance Bill (Second sitting)Clauses 54 and 55 make changes to alternative finance tax rules to put alternative and conventional financing arrangements on a broadly level playing field for annual tax on…28 Jan 2025HANSARDFinance Bill (Second sitting)Clauses 44 to 46 and schedule 13 make changes to replace the current domicile-based system of inheritance tax with the new residence-based system. Currently, an individual’s…28 Jan 2025HANSARDFinance Bill (Second sitting)I thank the shadow Minister and encourage him to respond in similar terms in future. Question put and agreed to. Clause 43 accordingly ordered to stand part of the Bill. Schedule…28 Jan 2025HANSARDFinance Bill (Second sitting)Clause 43 and schedule 12 make changes to ensure that the foreign income and gains arising within settlor-interested trust structures will no longer be protected from tax for…28 Jan 2025HANSARDFinance Bill (Second sitting)I am always happy to respond to queries from the Chartered Institute of Taxation—they were eloquently presented by the shadow Minister—and will I make sure that any responses to…28 Jan 2025HANSARDFinance Bill (Second sitting)I am glad that the hon. Lady was paying good attention to what the Chancellor was saying at Davos. The Government will introduce, as the Chancellor set out, a number of amendments…28 Jan 2025HANSARDFinance Bill (Second sitting)These clauses and schedules also relate to the non-dom reform, which we just discussing in relation to the previous group of clauses. Clauses 40 to 42 and schedules 9 to 11 make…28 Jan 2025HANSARDFinance Bill (Second sitting)I thank the hon. Gentleman for his further comments. To address his point regarding the OBR, we seek to strengthen that institution, inspired not least by some of his colleagues’…28 Jan 2025HANSARDFinance Bill (Second sitting)I thank the shadow Minister for his comments. I was going to thank him for his support for these measures, but I do not know whether he explicitly said that. I think he nearly…28 Jan 2025HANSARDFinance Bill (Second sitting)Clauses 37 to 39 make changes to ensure that from April 2025, individuals moving to the UK who have not been tax resident in the UK for the 10 previous years will not pay tax on…28 Jan 2025HANSARDFinance Bill (Second sitting)I beg to move amendment 20, in clause 37, page 31, line 21, at end insert— “12A So much of any amount of income treated as arising to an individual under section 633 (capital sums…28 Jan 2025HANSARDFinance Bill (Second sitting)I thank the shadow Minister for his support for this measure. If I understood his comments correctly, he asked a series of questions about the Exchequer impact and estimated costs…28 Jan 2025HANSARDFinance Bill (Second sitting)At the risk of repeating myself, amendments are routinely brought forward in Committee and on Report, and they are scrutinised at both stages of the Bill. The intention is to make…28 Jan 2025HANSARDFinance Bill (Second sitting)The clause makes a consequential amendment to the shared incentive plan—SIP—to take account of the introduction of statutory neonatal care pay in the Neonatal Care (Leave and Pay)…28 Jan 2025