1-20 of 25,119 results for subject:"Tax rates and bands"
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To ask His Majesty's Government whether they plan to increase the higher rate of income tax to 50 per cent; and, if so, what estimate they have made of the revenue implications of increasing that rate.
To ask His Majesty's Government whether they plan to increase the higher rate of income tax to 50 per cent; and, if so, what estimate they have made of the revenue implications of increasing that rate.
The Government remains committed to its manifesto which pledged to protect working people by not increasing rates of income tax.
HM Revenue and Customs regularly publishes estimates of the effects of illustrative tax changes on tax receipts. The most recent update from June 2025, is available at: https://www.gov.uk/government/statistics/direct-effects-of-illustrative-tax-changes
To ask His Majesty's Government what assessment they have made of changing the rates of Capital Gains Tax to move in line with income tax rates; and what assessment they have made of how effective such a change would be.
To ask His Majesty's Government what assessment they have made of changing the rates of Capital Gains Tax to move in line with income tax rates; and what assessment they have made of how effective such a change would be.
Decisions on tax policy are taken by the Chancellor at fiscal events.
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 13 July (HL1420), whether they will now answer the question put, namely what estimate they have made of the revenue implications of levying capital gains tax at the same rate as income tax.
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 13 July (HL1420), whether they will now answer the question put, namely what estimate they have made of the revenue implications of levying capital gains tax at the same rate as income tax.
The Government does not comment on tax speculation outside of fiscal events. The Government keeps the tax system under review, and decisions on tax policy are taken by the Chancellor at a fiscal event.
Find out about the UK tax system, the role of the Budget and the annual Finance Bill, key statistics on UK taxes, and sources of advice for taxpayers.
Find out about the UK tax system, the role of the Budget and the annual Finance Bill, key statistics on UK taxes, and sources of advice for taxpayers.
This briefing gives a short introduction to the way VAT works, and the significance that EU VAT law has had for setting VAT rates, before discussing the campaign for a lower VAT rate on tourist services, and the introduction of a temporary reduced VAT rate for hospitality, holiday accommodation and attractions which applied from July 2020 to March 2022.
This briefing gives a short introduction to the way VAT works, and the significance that EU VAT law has had for setting VAT rates, before discussing the campaign for a lower VAT rate on tourist services, and the introduction of a temporary reduced VAT rate for hospitality, holiday accommodation and...
To ask His Majesty's Government what estimate they have made of the revenue implications of levying Capital Gains Tax at the same rate as Income Tax; and what plans they have, if any, to equalise rates of Capital Gains Tax and Income Tax.
To ask His Majesty's Government what estimate they have made of the revenue implications of levying Capital Gains Tax at the same rate as Income Tax; and what plans they have, if any, to equalise rates of Capital Gains Tax and Income Tax.
The Government has taken significant steps to reform Capital Gains Tax (CGT), including increasing the main rates of CGT from 10% for basic rate taxpayers and 20% for higher rate taxpayers to 18% and 24% respectively. The rates for Business Asset Disposal Relief and Investors’ Relief have also increased to 18% for disposals made on or after 6 April 2026. This has created a simpler system by aligning rates across property and other assets.
The Government has also reduced the CGT relief available for disposals to Employee Ownership Trusts (EOTs) from 100% to 50%.
CGT currently raises around £14 billion a year, and receipts are expected to more than double to around £35 billion by 2030-31.
As with all taxes, the Government keeps the tax system under review, and decisions on tax policy are taken by the Chancellor at the budget.
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the VAT reduction for installing domestic energy saving-materials on the number of installations since 2024.
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the VAT reduction for installing domestic energy saving-materials on the number of installations since 2024.
This Government is committed to improving the quality and sustainability of our housing stock, through improvements such as low carbon heating, insulation, solar panels, and batteries.
Installations of qualifying energy-saving materials (ESMs) in residential accommodation and buildings used solely for a charitable purpose benefit from a temporary VAT zero rate until March 2027, after which they will revert to the reduced rate of VAT at five per cent. This support – worth over £1 billion – will aid households and charities in improving the energy efficiency of their buildings, help to reduce carbon emissions, and ultimately help us to reach our ambitious Net Zero by 2050 target.
The temporary zero rate of VAT for ESMs took effect on 1 April 2022. The scope of the zero rate was extended on 1 February 2024. On both occasions, the Government published Tax Information and Impact Notes detailing the expected impacts of these policy changes. These documents can be found at the following links:
The Value Added Tax (Installation of Energy-Saving Materials) Order 2022 - GOV.UK
To ask the Chancellor of the Exchequer, whether the government has modelled the net fiscal effect of a reduced rate of VAT on fitness services compared to the reduction in NHS and public costs associated with physical inactivity.
To ask the Chancellor of the Exchequer, whether the government has modelled the net fiscal effect of a reduced rate of VAT on fitness services compared to the reduction in NHS and public costs associated with physical inactivity.
Addressing physical inactivity and getting people moving more is important for improving health outcomes, reducing demand on the National Health Service, and supporting economic growth.
The leisure and fitness sector play an important role in supporting the Government’s sickness to prevention shift through providing affordable and accessible opportunities for people to increase their activity levels.
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 third largest tax, forecast to raise £180 billion in 2025/26.
Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. Exceptions to the standard rate have always been limited and balanced against affordability considerations.
One of the key considerations when assessing a new VAT relief is whether the cost saving is likely to be passed on to consumers. Evidence suggests that businesses only partially pass on any savings from lower VAT rates. In some cases, reliefs do not represent good value for money, as there is no guarantee that savings will be passed on to consumers.
To ask the Chancellor of the Exchequer, what estimate she has made of the annual cost to the Exchequer of applying a zero rate of VAT to commercial pilot training undertaken in the UK by (a) British nationals, (b) overseas nationals and (c) all trainee commercial pilots combined.
To ask the Chancellor of the Exchequer, what estimate she has made of the annual cost to the Exchequer of applying a zero rate of VAT to commercial pilot training undertaken in the UK by (a) British nationals, (b) overseas nationals and (c) all trainee commercial pilots combined.
The Government has not made an estimate. I refer the Honourable Member to my answer of 23 April to the Honourable Member for Basildon and Billericay (UIN 128427), in which I stated that HMRC does not hold information on VAT revenue from pilot training, and that the Government has no plans to change policy in this area.
Second reading. Agreed to on question. Bill committed to a Committee of the Whole House.
Second reading. Agreed to on question. Bill committed to a Committee of the Whole House.
I beg to move, That the Bill be now read a Second time.
The conflict in the middle east has left British families and businesses exposed to volatile gas prices, which has made things more expensive for those who drive for work, including care workers. Even though much of the country’s...
I beg to move, That the Bill be now read a Second time.
The conflict in the middle east has left British families and businesses exposed to volatile gas prices, which has made things more expensive for those who drive for work, including care workers. Even though much of the country’s...
My hon. Friend is making an excellent speech. This is fantastic news for my constituents, my farmers and my businesses. Does she welcome the statement from the End Fuel Poverty Coalition, which said that increasing the rates of approved mileage allowance payments is absolutely the right thing to do right...
My hon. Friend is making an excellent speech. This is fantastic news for my constituents, my farmers and my businesses. Does she welcome the statement from the End Fuel Poverty Coalition, which said that increasing the rates of approved mileage allowance payments is absolutely the right thing to do right...
I thank my hon. Friend for his thoughtful intervention. I absolutely agree that this will make a real difference to those workers who drive for their work. This is a long overdue measure, and I am very happy to put the Bill forward today.
The proposals represent the largest ever increase...
I thank my hon. Friend for his thoughtful intervention. I absolutely agree that this will make a real difference to those workers who drive for their work. This is a long overdue measure, and I am very happy to put the Bill forward today.
The proposals represent the largest ever increase...
I know that this legislation is fast-tracked, but the Minister did rattle through very rapidly. I will seek to follow her lead as best I can.
It is a pleasure to debate the Bill on Second Reading and its measures on increasing the electricity generator levy, increasing the mileage allowance and...
I know that this legislation is fast-tracked, but the Minister did rattle through very rapidly. I will seek to follow her lead as best I can.
It is a pleasure to debate the Bill on Second Reading and its measures on increasing the electricity generator levy, increasing the mileage allowance and...
The shadow Minister speaks of the need for ambition, but does he not agree that there is little that is more ambitious than breaking the link between the cost of gas and electricity, which so many of our constituents have called on us to do in recent months?
The shadow Minister speaks of the need for ambition, but does he not agree that there is little that is more ambitious than breaking the link between the cost of gas and electricity, which so many of our constituents have called on us to do in recent months?
I agree with the hon. Gentleman on that point, which I will come to shortly. I just note that when the Secretary of State for Energy Security and Net Zero had the opportunity to really break that link, he backed away from doing so. This measure does so in a...
I agree with the hon. Gentleman on that point, which I will come to shortly. I just note that when the Secretary of State for Energy Security and Net Zero had the opportunity to really break that link, he backed away from doing so. This measure does so in a...
We Liberal Democrats support all three measures in the Bill. We recognise that the electricity generator levy is intended to encourage legacy renewable generators to move away from volatile wholesale electricity prices and on to contracts for difference.
As the only party to put in its manifesto a commitment to decoupling...
We Liberal Democrats support all three measures in the Bill. We recognise that the electricity generator levy is intended to encourage legacy renewable generators to move away from volatile wholesale electricity prices and on to contracts for difference.
As the only party to put in its manifesto a commitment to decoupling...
Today’s debate is progressing rapidly—so rapidly, in fact, that I am yet to turn to the speech in my folder. It is a privilege to close this rapid debate on behalf of the Government, and I thank Members for their contributions, as well as the Economic Secretary to the Treasury...
Today’s debate is progressing rapidly—so rapidly, in fact, that I am yet to turn to the speech in my folder. It is a privilege to close this rapid debate on behalf of the Government, and I thank Members for their contributions, as well as the Economic Secretary to the Treasury...
Given that the levy kicks in from today and the Minister said that the consultation will be published before the end of the year, six months henceforth, and then legislation will have to go through, are the Government considering any backdating provision? If a company generator wanted to go into...
Given that the levy kicks in from today and the Minister said that the consultation will be published before the end of the year, six months henceforth, and then legislation will have to go through, are the Government considering any backdating provision? If a company generator wanted to go into...
No. If prices are slightly above the threshold set in the electricity generator levy, as they are at the moment, I believe, those taxes will be due now, from 1 July, whether or not businesses make decisions down the line after the consultation, after engagement and after the detail of...
No. If prices are slightly above the threshold set in the electricity generator levy, as they are at the moment, I believe, those taxes will be due now, from 1 July, whether or not businesses make decisions down the line after the consultation, after engagement and after the detail of...