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To ask the Chancellor of the Exchequer if he will estimate the potential cost to the public purse of raising the income tax personal allowance for 2014-15 from £10,000, (a) £10,550, (b) £11,000, (c) £11,500, (d) £12,000, (e) £12,500 and (f) £13,000.
To ask the Chancellor of the Exchequer if he will estimate the potential cost to the public purse of raising the income tax personal allowance for 2014-15 from £10,000, (a) £10,550, (b) £11,000, (c) £11,500, (d) £12,000, (e) £12,500 and (f) £13,000.
The cost of raising the income tax personal allowance may be approximated using the “Direct effects of illustrative tax changes” table as published on the internet at the following address:
https://www.gov.uk/government/publications/direct-effects-of-illustrative-tax-changes
Clauses 61 to 64 agreed to. Schedule 11 agreed to. Clause 65 agreed to. Schedule 12 agreed to. Clauses 66 and 67 agreed to. Clause 68 under consideration when Committee adjourned till 10 June. Bill, so far as amended, to be reported (carried over as Bill 1 2014-15).
Clauses 61 to 64 agreed to. Schedule 11 agreed to. Clause 65 agreed to. Schedule 12 agreed to. Clauses 66 and 67 agreed to. Clause 68 under consideration when Committee adjourned till 10 June. Bill, so far as amended, to be reported (carried over as Bill 1 2014-15).
Clause 49 agreed to. Schedule 7 agreed to. Clause 50 agreed to. Schedule 8 agreed to, as amended. Clauses 51 to 53 agreed to. Schedules 9 and 10 agreed to. Clauses 54 to 60, and 284, agreed to. Clause 61 under consideration when the Committee adjourned.
Clause 49 agreed to. Schedule 7 agreed to. Clause 50 agreed to. Schedule 8 agreed to, as amended. Clauses 51 to 53 agreed to. Schedules 9 and 10 agreed to. Clauses 54 to 60, and 284, agreed to. Clause 61 under consideration when the Committee adjourned.
The Deputy Prime Minister claims that he has lowered taxes for poorer households by raising the personal allowance, but will he confirm that the localisation of council tax support is raising taxes for the very worst off?
The Deputy Prime Minister claims that he has lowered taxes for poorer households by raising the personal allowance, but will he confirm that the localisation of council tax support is raising taxes for the very worst off?
As I said earlier, we inherited a situation in which we needed to restore stability to the public finances, create growth, create employment and create an incentive for people to work. That is why there have been some controversial reforms, but we have also introduced the biggest change in the personal income tax system in a generation, taking 3 million people on low pay out of paying any income tax.
As I said earlier, we inherited a situation in which we needed to restore stability to the public finances, create growth, create employment and create an incentive for people to work. That is why there have been some controversial reforms, but we have also introduced the biggest change in the personal income tax system in a generation, taking 3 million people on low pay out of paying any income tax.
As I said earlier, we inherited a situation in which we needed to restore stability to the public finances, create growth, create employment and create an incentive for people to work. That is why there have been some controversial reforms, but we have also introduced the biggest change in the personal income tax system in a generation, taking 3 million people on low pay out of paying any income tax.
The Deputy Prime Minister claims that he has lowered taxes for poorer households by raising the personal allowance, but will he confirm that the localisation of council tax support is raising taxes for the very worst off?
To ask the Chancellor of the Exchequer what the total estimated number of higher rate taxpayers was in (a) the last financial year and (b) 2010.
To ask the Chancellor of the Exchequer what the total estimated number of higher rate taxpayers was in (a) the last financial year and (b) 2010.
Estimates of the number of taxpayers at each income tax rate band are published in HMRC’s National Statistics which are available on the internet at the following address:
https://www.gov.uk/government/publications/number-of-individual-income-taxpayers-by-marginal-rate-gender-and-age
Clause 39, discussed with new clause 8 (Pension flexibility: Treasury analysis), agreed to. Clauses 40 and 41 agreed to. Schedule 4 agreed to. Clauses 42 and 43 agreed to. Schedule 5 agreed to, as amended. Clauses 44 to 48 agreed to. Schedule 6 agreed to.
Clause 39, discussed with new clause 8 (Pension flexibility: Treasury analysis), agreed to. Clauses 40 and 41 agreed to. Schedule 4 agreed to. Clauses 42 and 43 agreed to. Schedule 5 agreed to, as amended. Clauses 44 to 48 agreed to. Schedule 6 agreed to.
Clauses 35 to 38 agreed to. Clause 39, discussed with new clause 8 (Pension flexibility: Treasury analysis), under consideration when Committee adjourned.
Clauses 35 to 38 agreed to. Clause 39, discussed with new clause 8 (Pension flexibility: Treasury analysis), under consideration when Committee adjourned.
To ask the Secretary of State for Scotland what progress the Government has made on implementation of the Scottish rate of income tax; and if he will make a statement.
To ask the Secretary of State for Scotland what progress the Government has made on implementation of the Scottish rate of income tax; and if he will make a statement.
The UK and Scottish Governments continue to work closely together on the implementation of the Scotland Act 2012 which significantly increases the Scottish Parliament’s financial powers.
The Government’s second annual report on the Act was laid in Parliament yesterday and provides a full update on implementation of the fiscal powers.
To ask the Chancellor of the Exchequer how many people have declared income on their income tax returns from (a) rent from a residential property, (b) rent from a furnished holiday letting, (c) rent from commercial properties and (d) income under the Rent a Room Scheme in the last tax...
To ask the Chancellor of the Exchequer how many people have declared income on their income tax returns from (a) rent from a residential property, (b) rent from a furnished holiday letting, (c) rent from commercial properties and (d) income under the Rent a Room Scheme in the last tax...
Due to the structure of the Self Assessment tax return, it is not possible to provide a complete answer to this question.
Income from residential and commercial property is not separated out in either the full or the short Self Assessment return. In total, 1,984,000 individuals reported UK property income that was not from Furnished Holiday Lettings in the tax year 2011-12. This figure includes both the main and short Self Assessment returns.
It is not possible to provide a complete accounting of the number of individuals claiming the Rent a Room relief. This is because individuals claiming the relief with gross rental income of less than £4,250 do not have to fill in a Self Assessment return. Individuals who fill in the short return have no way of indicating that they are claiming the relief.
Of those individuals who filled in the main return, 47,000 indicated that they were claiming the relief. This includes those who ticked the box to indicate that their gross rents were less than £4,250, and those who filled in the amount claimed.
Individuals with income from Furnished Holiday Lettings must complete the property pages of the main return. In all, 82,000 individuals declared income from Furnished Holiday Lettings in the tax year 2011-12. This covers Furnished Holiday Lettings in both the UK and EEA.
HMRC is currently running a compliance campaign focusing on individuals who let residential property, giving them the opportunity to bring their tax affairs up to date and to pay the tax that they owe.
To ask the Chancellor of the Exchequer if he will estimate the potential cost to the public purse of raising the income tax personal allowance for 2015-16 from £10,500 to £12,300 with the same maximum cash benefit going to basic and higher rate taxpayers but no benefit going to additional...
To ask the Chancellor of the Exchequer if he will estimate the potential cost to the public purse of raising the income tax personal allowance for 2015-16 from £10,500 to £12,300 with the same maximum cash benefit going to basic and higher rate taxpayers but no benefit going to additional...
Raising the income tax personal allowance to £12,300 in 2015-16 is estimated to cost in the region of £9.5 billion.
A reduction to the basic rate limit has been assumed so that the higher rate threshold is unchanged. As a result of this, basic rate and most higher rate taxpayers would benefit equally from the personal allowance increase.
This estimate is based on the 2011-12 Survey of Personal Incomes, projected to 2015-16 using economic assumptions consistent with the Office for Budget Responsibility’s March 2014 economic and fiscal outlook.
To ask Her Majesty’s Government whether they have commissioned any studies to assess behavioural change consequent upon income and corporate tax changes since 2010.[HL6619]
To ask Her Majesty’s Government whether they have commissioned any studies to assess behavioural change consequent upon income and corporate tax changes since 2010.[HL6619]
The table below sets out the Corporation Tax rates from 2009-10 to 2014-15.
| Small
Profits Rate | Main
Rate | |
| 2009-10 | 21% | 28% |
| 2010-11 | 21% | 28% |
| 2011-12 | 20% | 26% |
| 2012-13 | 20% | 24% |
| 2013-14 | 20% | 23% |
| 2014-15 | 20% | 21% |
At Budget 2013 it was announced that from 2015-16 the rates would be unified to a single Corporation Tax rate of 20%.
The latest year for which full data is available is 2011-12. Total onshore Corporation Tax liabilities fell slightly from £35.6bn in 2010-11 to £35.4bn in 2011-12. HMRC publishes annual National Statistics on Corporation Tax liabilities. Table 11.1B is found at [1].
The table below sets out the Income Tax rates from 2000-10 to 2014-15.
| Basic
Rate | Higher
Rate | Additional
Rate | |
| 2009-10 | 20% | 40% | - |
| 2010-11 | 20% | 40% | 50% |
| 2011-12 | 20% | 40% | 50% |
| 2012-13 | 20% | 40% | 50% |
| 2013-14 | 20% | 40% | 45% |
| 2014-15 | 20% | 40% | 45% |
The Starting Rate of tax for savings is currently 10%. This is applied only to savings income which falls within the starting rate band above the personal allowance.
In 2014-15 the personal allowance is £10,000 and the starting rate band is £2,880. At Budget 2014 the Government announced that from 2015-16 that band would be increased to £5000 and the rate set to 0%.
The latest available income tax liability statistics held by HMRC relate to the tax year 2011-12. These statistics are found at [2].
Other more timely published information is available in tax receipts statistics which are published on a monthly basis and could be considered as a leading indicator of liabilities. These statistics are found at [3].
To estimate the exchequer impact of policy changes it is necessary to estimate the change in tax liabilities after taking into account the behavioural response. At each fiscal event where the tax rates have been changed these estimates have been made and certified by the Office for Budget Responsibility. These estimates are published in table 2.1of the corresponding Budget and Autumn Statement reports.
There are significant behavioural responses associated with changes in the top marginal rate of income tax. The HMRC report ‘The Exchequer effect of the 50 per cent additional rate of income tax’[4] outlines these behavioural responses.
HM Treasury and HMRC jointly published the report ‘Analysis of the dynamic effects of corporation tax reductions’ at Autumn Statement 2013[5].
[1] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/256886/table11-1b.pdf
[2] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/277459/Table_2.6.pdf
[3] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/294267/20140312_Feb_v0.2.pdf
[4] http://www.hmrc.gov.uk/budget2012/excheq-income-tax-2042.pdf
[5] https://www.gov.uk/government/publications/analysis-of-the-dynamic-effects-of-corporation-tax-reductions
To ask Her Majesty’s Government whether there is any evidence that income tax and corporate tax revenues have increased as the rates of income and corporate taxes have decreased since 2010.[HL6620]
To ask Her Majesty’s Government whether there is any evidence that income tax and corporate tax revenues have increased as the rates of income and corporate taxes have decreased since 2010.[HL6620]
The table below sets out the Corporation Tax rates from 2009-10 to 2014-15.
| Small
Profits Rate | Main
Rate | |
| 2009-10 | 21% | 28% |
| 2010-11 | 21% | 28% |
| 2011-12 | 20% | 26% |
| 2012-13 | 20% | 24% |
| 2013-14 | 20% | 23% |
| 2014-15 | 20% | 21% |
At Budget 2013 it was announced that from 2015-16 the rates would be unified to a single Corporation Tax rate of 20%.
The latest year for which full data is available is 2011-12. Total onshore Corporation Tax liabilities fell slightly from £35.6bn in 2010-11 to £35.4bn in 2011-12. HMRC publishes annual National Statistics on Corporation Tax liabilities. Table 11.1B is found at [1].
The table below sets out the Income Tax rates from 2000-10 to 2014-15.
| Basic
Rate | Higher
Rate | Additional
Rate | |
| 2009-10 | 20% | 40% | - |
| 2010-11 | 20% | 40% | 50% |
| 2011-12 | 20% | 40% | 50% |
| 2012-13 | 20% | 40% | 50% |
| 2013-14 | 20% | 40% | 45% |
| 2014-15 | 20% | 40% | 45% |
The Starting Rate of tax for savings is currently 10%. This is applied only to savings income which falls within the starting rate band above the personal allowance.
In 2014-15 the personal allowance is £10,000 and the starting rate band is £2,880. At Budget 2014 the Government announced that from 2015-16 that band would be increased to £5000 and the rate set to 0%.
The latest available income tax liability statistics held by HMRC relate to the tax year 2011-12. These statistics are found at [2].
Other more timely published information is available in tax receipts statistics which are published on a monthly basis and could be considered as a leading indicator of liabilities. These statistics are found at [3].
To estimate the exchequer impact of policy changes it is necessary to estimate the change in tax liabilities after taking into account the behavioural response. At each fiscal event where the tax rates have been changed these estimates have been made and certified by the Office for Budget Responsibility. These estimates are published in table 2.1of the corresponding Budget and Autumn Statement reports.
There are significant behavioural responses associated with changes in the top marginal rate of income tax. The HMRC report ‘The Exchequer effect of the 50 per cent additional rate of income tax’[4] outlines these behavioural responses.
HM Treasury and HMRC jointly published the report ‘Analysis of the dynamic effects of corporation tax reductions’ at Autumn Statement 2013[5].
[1] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/256886/table11-1b.pdf
[2] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/277459/Table_2.6.pdf
[3] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/294267/20140312_Feb_v0.2.pdf
[4] http://www.hmrc.gov.uk/budget2012/excheq-income-tax-2042.pdf
[5] https://www.gov.uk/government/publications/analysis-of-the-dynamic-effects-of-corporation-tax-reductions
To ask Her Majesty’s Government whether they have conducted any research into the public perception of current income tax regulations and banding; and whether they consider that there is public appetite for a flat rate of income taxation.[HL6683]
To ask Her Majesty’s Government whether they have conducted any research into the public perception of current income tax regulations and banding; and whether they consider that there is public appetite for a flat rate of income taxation.[HL6683]
The Government has not conducted any research into the public perception of current income tax regulations and branding.
The Government believes it is unlikely that there would be current public appetite for a flat rate of income taxation.
To ask Her Majesty’s Government what assessment they have made of the impact on staffing levels at HM Revenue and Customs of the adoption of a flat rate of income taxation.[HL6684]
To ask Her Majesty’s Government what assessment they have made of the impact on staffing levels at HM Revenue and Customs of the adoption of a flat rate of income taxation.[HL6684]
The Government has not made an assessment of the impact on staffing levels at HM Revenue and Customs of the adoption of a flat rate of income taxation.
Clauses 26 to 33 agreed to. Clause 34 agreed to as amended. Clause 35 under consideration when Committee adjourned.
Clauses 26 to 33 agreed to. Clause 34 agreed to as amended. Clause 35 under consideration when Committee adjourned.
I beg to move amendment 32, in page 6, line 20, after ‘description’, insert ‘, a tax credit of any description’.
This amendment would allow the Welsh Government, by resolution of the National Assembly for Wales, to introduce new tax credits.
I beg to move amendment 32, in page 6, line 20, after ‘description’, insert ‘, a tax credit of any description’.
This amendment would allow the Welsh Government, by resolution of the National Assembly for Wales, to introduce new tax credits.
Clauses 12 to 14 agreed to. Clause 15, discussed with schedule 3, agreed to. Schedule 3 agreed to. Clause 16, discussed with new clause 7 (False self-employment in the construction sector), and clauses 17, 18 and 20, agreed to. Clauses 17 and 18 agreed to. Clauses 20 and 21 agreed to. Clause 19 agreed to. Clauses 22 to 25 agreed to.
Clauses 12 to 14 agreed to. Clause 15, discussed with schedule 3, agreed to. Schedule 3 agreed to. Clause 16, discussed with new clause 7 (False self-employment in the construction sector), and clauses 17, 18 and 20, agreed to. Clauses 17 and 18 agreed to. Clauses 20 and 21 agreed...