Estimates of the tax liabilities on savings income are available as part of Table 2.6 of the annually published Accredit official statistics:

https://assets.publishing.service.gov.uk/media/6a5a4cab24d4d0ad06d946d5/Table_2.6_Income_Tax_liabilities_by_marginal_rate_of_Income_Tax.ods

Tax year 2022-23 and years prior are available as a historic table in that same publication:
https://assets.publishing.service.gov.uk/media/6a548feb1228eb26a4cab7d9/Table_2.6a_-_Historic.ods

The 2023-23 and 2023-24 figures are based on HMRC’s Survey of Personal Incomes (SPI) outturn data. Data for 2024-25 and onwards are projections based on the 2023-24 SPI, projected in line with economic assumptions consistent with the Office for Budget Responsibility’s March 2026 Economic and Fiscal Outlook.

The National Payments Vision sets out the Government’s ambition for a trusted, world-leading payments ecosystem based on next-generation technology, where consumers and businesses have a choice of payment methods to meet their needs.

HM Treasury continues to guide implementation of the National Payments Vision through its chairing of the Payments Vision Delivery Committee.

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, published in its 2024-2025 Annual Review that over £12.9 billion of assets relating to the Libya sanctions regime have been reported as frozen as of September 2024. This is an aggregated total of all entities and individuals listed on the Consolidated List of Financial Sanctions Targets.

OFSI’s next Annual Review is due to be published later in 2026.

In the latest tax year available, 2022 to 2023, 71.5% of individuals holding a cash ISA had an income in the range of £10,000 to £49,999.

I refer the honorable member to my responses to UIN 10566 and 13470.

The government established the Listings Taskforce to support businesses to list and grow in the UK. HM Treasury is working in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

The Duty Reimbursement Scheme (DRS) was launched in 2023 and uptake has increased significantly over the last two years. In 2025 the value of claims paid has exceeded by five times the total paid from the scheme’s launch up to the end of 2024.

HMRC made improvements to the DRS which went live on 26 May 2026. The improvements introduce a replenishment mechanism, enabling businesses using the Northern Ireland Customs Duty Waiver Scheme to reclaim de minimis state aid allowance for the same goods via DRS. The changes also include a new interchangeable goods facilitation, allowing DRS claims where tracking individual items in shared stock is impractical.

These changes, informed through extensive consultation with businesses, will support industry to engage more effectively with the scheme.

It is a commercial decision for individual firms to decide where to list.

The government has established the Listings Taskforce to ensure the UK attracts the best and brightest businesses from the UK and around the world, to list on UK markets.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s second largest tax, forecast to raise £189 billion in 2026/27.

Hot takeaway food is subject to the 20 per cent standard rate of VAT. This ensures parity of treatment with food sold in restaurants, which is also subject to the standard rate. Exceptions to the standard rate have always been limited and balanced against affordability considerations.

Across the UK from 25 June to 1 September the Government is introducing a temporary reduced rate of VAT on children's menu meals and eligible family attractions.

This temporary VAT relief is focused on activities especially targeted at children and families, keeping the package targeted and affordable. Including takeaways would have significantly increased the cost of the package, and this decision means the Great British Summer Savings is more closely targeted at family days out.

HMRC continues to support industry, including car retailers, to maximise the use of the facilitations under the Windsor Framework. The UK Internal Market Scheme (UKIMS) can be used by authorised businesses to move eligible goods ‘not at risk’, without payment of duty, if they are brought from Great Britain into Northern Ireland for sale or final use by end consumers in the UK. The Independent Monitoring Panel's November 2025 report confirmed that the vast majority of goods movements to Northern Ireland by value (96%) continue to do so without paying any duty. Where goods are assessed to be 'at risk' but remain outside the EU, HMRC has also recently delivered improvements to the Duty Reimbursement Scheme (DRS) to support businesses, and in particular those affected by upfront duty costs.

The National Wealth Fund (NWF) has a mandate to invest across the UK ensuring the benefits of its investments are felt in all four nations. It has a dedicated director based in Northern Ireland and opened a Belfast office in December 2024.

NWF works collaboratively with the Northern Ireland Executive, Invest Northern Ireland, the Investment Fund for Northern Ireland, and the Strategic Investment Board to identify investment opportunities in Northern Ireland.

As NWF is operationally independent, its investment activity reflects their policy objectives, return requirements, and the availability of investable proposals.

The NWF invests on a commercial basis to address market gaps and crowd in private capital, including in digital and technologies. It has a dedicated director based in Northern Ireland to support its view of markets across the region and opened a Belfast office in December 2024.

In April 2022 the National Wealth Fund, then the UK Infrastructure Bank, provided a £50 million loan to support Fibrus to deliver high-capacity broadband to rural homes and businesses across Northern Ireland. As of December 2025, this investment has helped Fibrus bring full fibre capability to over 330,000 homes across Northern Ireland.

Banking is changing, with many customers benefitting from the convenience and flexibility of managing their finances remotely.

However, the Government understands the importance of banking services to communities, including those in rural areas, and is working closely with industry to support the roll-out of 350 banking hubs by the end of this Parliament. Over 275 hubs have been announced so far, and more than 235 are already open, including 7 in Northern Ireland.

The Government engages regularly with LINK, the operator of the UK’s largest ATM network, as well as industry and the Financial Conduct Authority, on access to cash and banking services.

Banking hub locations are independently recommended by LINK. When a bank branch closes, there is a material change to a cash service, or a community request is received, LINK conducts an access to cash assessment under the regime set out in the Financial Services and Markets Act 2023. This considers a range of factors including population demographics and transport links, with criteria reflecting differences between rural and urban areas. Any decisions on changes to LINK’s assessment criteria are a matter for LINK, the financial services sector and the Financial Conduct Authority, which oversees the regime.

Customers can also access everyday banking services through the Post Office network, with over 10,000 branches providing services such as cash withdrawals and deposits, balance enquiries and bill payments.

The Government keeps the effectiveness of access to cash and banking arrangements under review through ongoing engagement with industry, LINK and the Financial Conduct Authority to ensure they meet the needs of local communities.

As such, on 14 May the Government commissioned an independent Review into Access to Banking Services to assess the impact of changes in the provision of in-person banking services. The evidence gathered will inform future decisions on whether further action is needed. Alongside this, the Government intends to include a power in forthcoming financial services legislation to enable it to act, if necessary, to protect access to banking services.

Treasury Ministers regularly engage with the banking sector on access to banking services, including the rollout of banking hubs.

The Government understands the importance of access to in-person banking services for communities and high streets and is committed to supporting the financial services industry’s roll-out of 350 banking hubs by the end of this Parliament. Importantly, this number is a floor, not a ceiling, and Cash Access UK will deliver a banking hub wherever LINK has recommended one.

The Government keeps the effectiveness of current arrangements under review through regular engagement with industry and other stakeholders to ensure they meet the needs of people and communities.

I refer the honourable member to the answer provided in the response to UIN 126551.

The Government has ensured a wide range of MTD-compatible software is available to support businesses of all budgets and sizes, and will continue to work closely with the software industry to ensure that Making Tax Digital (MTD) software meets the needs of taxpayers.

Software providers must meet a clear set of criteria and Terms of Use for their products to be recognised as MTD-compatible. These include requirements on security, data protection and accessibility, as well as the ability to support core user journeys and portability of data.

A taxpayer is not locked into a single MTD-compatible software product and can change provider at any time. As their business needs evolve over time, taxpayers may find alternative software becomes the most appropriate option for their circumstances.

HMRC has published guidance to support taxpayers in finding the right software here:

www.gov.uk/guidance/find-software-that-works-with-making-tax-digital-for-income-tax