Contributions
2,140 recent contributions in Hansard
HANSARDFinance (No. 2) Bill (Second sitting)We have to make judgments on how we ensure that the UK economy is not only internationally competitive but attractive to other countries. We are happy to make the point that…16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)The hon. Gentleman is trying to tempt me away from the scope of the Bill, and I will resist that temptation. I gently ask him to help me—perhaps afterwards—to understand the…16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)I completely agree: there is a ripple effect from those individuals. Conservative Members understand the concern that such people should pay their taxes fairly and contribute to…16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)On a point of order, Ms McVey.16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)My hon. Friend brings a particular fervour to his intervention, if I may say so. I absolutely want very high-earning people to pay their proper taxes here in the United Kingdom,…16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)They are taxed, as UK taxpayers are taxed, on their UK income—that is the point. The hon. Lady will know that the threshold for the additional rate was lowered from £150,000 to…16 May 2023HANSARDFinance (No. 2) Bill (Second sitting)Clause 36 makes changes to ensure that tax is paid on value built up in UK shares or securities even if the shares or securities are exchanged for an equivalent holding in a…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)We are making these changes because, as I have said, we are mindful that this is an incredibly complex area of law and of corporate accountability and we are genuinely happy to…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)Clauses 30 and 31 address two issues concerning the tax rules that deal with reinsurance of a specific type of long-term insurance business known as basic life assurance and…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)I will repeat exactly what I said for the hon. Gentleman, slowly: the measure does not affect the need for trust beneficiaries to consider their tax reliability on trust income…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)On the simplification point, the replacement of the lower-rate band with the new tax-free amount supports our long-standing goal of a modern and simpler tax system. This is a…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)It is because that tends to be our measure across the board. I take the hon. Lady’s point about housing, but if someone needs help with the cost of housing, depending on their…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)We use CPI across the board. What we have tried to do is bring the value of the QCR back to its intended level. As I said, it had not changed since 2003. Index linking protects…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)The clause makes changes to support foster carers by increasing the amount of income tax relief available to them and ensuring that that relief stays at an appropriate level over…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)I am happy to be able to tell the hon. Lady that they were exempted. In terms of costs, I see the word “negligible” in the Exchequer impact assessment, so that is the…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)Clause 34 and schedule 3 make changes to the corporate interest restriction and connected rules in order to protect Exchequer revenue, remove unfair outcomes and reduce…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)The clause clarifies that payments made under the Welsh Government’s Jobs Growth Wales Plus scheme are exempt from income tax, with retrospective effect from 1 April 2022. The…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)I got it right. That was the point. He raised a point of order that was wrong. Question put and agreed to. Clause 16 accordingly ordered to stand part of the Bill. Clause 17…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)I am mindful that when the hon. Member asked me quite a technical question in a Statutory Instrument Committee recently, he misunderstood my response and raised a point of order…16 May 2023HANSARDFinance (No. 2) Bill (First sitting)Yes, Ms McVey; the trip to John Lewis will have to come later. I am helpfully informed that, as set out in the TIIN, the additional resource will be dedicated to compliance work…16 May 2023