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To ask the Chancellor of the Exchequer, whether she plans to review the level of the Personal Allowance before the scheduled end of the threshold freeze in 2031.
To ask the Chancellor of the Exchequer, whether she plans to review the level of the Personal Allowance before the scheduled end of the threshold freeze in 2031.
The previous government froze income tax thresholds from 2021/22 until 2027/28 – this means they were not due to rise until April 2028 at the earliest.
The Government is asking everyone to contribute to maintain funding for the NHS and reduce debt, and it is doing this by maintaining personal tax thresholds at their current levels for a further three years to the end of this decade.
The Government keeps all taxes under review as part of the policy making process.
To ask the Chancellor of the Exchequer, how many and what proportion of hospitality businesses in Scotland are beneath the VAT registration threshold.
To ask the Chancellor of the Exchequer, how many and what proportion of hospitality businesses in Scotland are beneath the VAT registration threshold.
The information requested is not available, as the registered addresses of firms held in HMRC’s datasets does not always correspond to the firms’ places of business, and in many cases firms operate both in Scotland and elsewhere in the UK.
The UK has the second highest registration threshold among all 38 OECD countries, which keeps the majority of businesses outside the VAT system.
To ask the Chancellor of the Exchequer, what assessment she has made of the the potential merits of changing the VAT registration threshold for hospitality businesses.
To ask the Chancellor of the Exchequer, what assessment she has made of the the potential merits of changing the VAT registration threshold for hospitality businesses.
At £90,000, the UK has the second highest registration threshold among all 38 OECD countries, which keeps the majority of businesses outside the VAT system.
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Reduced rates of VAT come at a significant cost to the Exchequer and reduce the revenue available for vital public services. Any reduction in tax revenue would mean higher borrowing, lower spending, or increases in other taxes.
HMRC estimates that reducing the standard rate of VAT to 10% on accommodation and food and beverage services would cost approximately £11 billion a year.
The Government is already supporting hospitality through targeted measures, including permanently lower business rates multipliers, a £4.3 billion business rates support package, and the temporary Great British Summer Savings scheme, which will reduce VAT from 20 per cent to 5 per cent on eligible family attractions and children's menu meals between 25 June and 1 September.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of state pensioners who will pay income tax in each financial year from 2026–27 to 2030–31.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of state pensioners who will pay income tax in each financial year from 2026–27 to 2030–31.
The Chancellor has set out that individuals whose only income is the basic or new State Pension, without increments, will not pay income tax over this Parliament.
The number of individual Income Tax payers by age can be found in Table 2.1 of the Income Tax liabilities statistics, as linked below:
The updated Income Tax liabilities statistics will be published in July 2026.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of additional taxpayers who will pay an effective marginal rate of income tax of 60% because their income is between £100,000 to £125,140 due to the freezing of income tax thresholds before 2031.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of additional taxpayers who will pay an effective marginal rate of income tax of 60% because their income is between £100,000 to £125,140 due to the freezing of income tax thresholds before 2031.
The Government recognises that taxpayers earning between £100,000 and £125,140 face a higher marginal tax rate due to the tapering of the tax-free Personal Allowance, introduced in 2010-11.
The number of people forecast to pay tax by marginal rate can be found in the OBR’s March 2026 Economic and fiscal outlook – detailed forecast tables: receipts, linked below.
The previous Government made the decision to maintain income tax thresholds at their current levels from April 2021 until April 2028 and this is reflected in the numbers.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of people who have reduced their taxable income to avoid the tapered withdrawal of the personal allowance for income tax.
To ask the Chancellor of the Exchequer, what estimate she has made of the number of people who have reduced their taxable income to avoid the tapered withdrawal of the personal allowance for income tax.
The Government recognises that taxpayers earning between £100,000 and £125,140 face a higher marginal tax rate due to the tapering of the tax-free Personal Allowance, introduced in 2010-11.
The number of people forecast to pay tax by marginal rate can be found in the OBR’s March 2026 Economic and fiscal outlook – detailed forecast tables: receipts, linked below.
The previous Government made the decision to maintain income tax thresholds at their current levels from April 2021 until April 2028 and this is reflected in the numbers.
Several tax thresholds have not been increased since 2022. This briefing looks at fiscal drag in the context of taxation in the UK, with a specific focus on income tax thresholds.
Several tax thresholds have not been increased since 2022. This briefing looks at fiscal drag in the context of taxation in the UK, with a specific focus on income tax thresholds.
To ask the Chancellor of the Exchequer, what comparative assessment her Department has made of the (a) VAT Registration Threshold and (b) rate of inflation between 2014 and 2026.
To ask the Chancellor of the Exchequer, what comparative assessment her Department has made of the (a) VAT Registration Threshold and (b) rate of inflation between 2014 and 2026.
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This reflects the Government’s approach to balance the impacts on small businesses, with the needs of the wider economy and the public finances. Such a comparatively high threshold means the majority of UK businesses are not in the VAT system at all, reducing administrative burdens and supporting growth.
To ask the Chancellor of the Exchequer, what estimate her Department has made of the administrative burden to the Treasury of processing VAT receipts for Businesses with a turnover under £250,000.
To ask the Chancellor of the Exchequer, what estimate her Department has made of the administrative burden to the Treasury of processing VAT receipts for Businesses with a turnover under £250,000.
HMRC has not made an estimate of the administrative burden to the Treasury for processing VAT receipts for businesses with a turnover below £250,000. HMRC measures its overall operational costs across all taxes and does not hold this information at the level of granularity required to isolate costs attributable to businesses with a turnover under £250,000.
To ask the Chancellor of the Exchequer, what estimate her Department has made of the average time spent by businesses with turnover below £250,000 on VAT compliance, including preparing returns and maintaining records.
To ask the Chancellor of the Exchequer, what estimate her Department has made of the average time spent by businesses with turnover below £250,000 on VAT compliance, including preparing returns and maintaining records.
HMRC does not estimate the administrative cost to businesses with a turnover below £250,000 for processing and submitting VAT returns, as the cost can vary between businesses, regardless of their turnover. Administrative costs are largely dependent on their individual business processes and the nature and complexity of their record keeping.
To ask the Chancellor of the Exchequer what estimate her Department has made of the administrative cost of processing and submitting VAT returns to to businesses with a turnover under £250,000.
To ask the Chancellor of the Exchequer what estimate her Department has made of the administrative cost of processing and submitting VAT returns to to businesses with a turnover under £250,000.
HMRC does not estimate the administrative cost to businesses with a turnover below £250,000 for processing and submitting VAT returns, as the cost can vary between businesses, regardless of their turnover. Administrative costs are largely dependent on their individual business processes and the nature and complexity of their record keeping.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of fiscal drag on the number of charities expected to become liable for VAT registration over the next five years.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of fiscal drag on the number of charities expected to become liable for VAT registration over the next five years.
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This means the majority of UK businesses are not in the VAT system at all.
VAT is a broad-based tax on consumption. Once an organisation’s taxable turnover exceeds £90,000, it is required to register for VAT, and VAT-registered organisations can generally reclaim the VAT they incur on their business costs.
The Government takes steps elsewhere in the tax system to ensure that charities receive treatment that takes account of their unique status and invaluable contribution. Our tax regime for charities, including Gift Aid and an exemption from paying business rates, is among the most generous of anywhere in the world, with tax reliefs for charities and their donors worth just over £6 billion for the tax year to April 2024.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the VAT registration threshold on small charities that generate income through educational public engagement activities.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the VAT registration threshold on small charities that generate income through educational public engagement activities.
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This means the majority of UK businesses are not in the VAT system at all.
VAT is a broad-based tax on consumption. Once an organisation’s taxable turnover exceeds £90,000, it is required to register for VAT, and VAT-registered organisations can generally reclaim the VAT they incur on their business costs.
The Government takes steps elsewhere in the tax system to ensure that charities receive treatment that takes account of their unique status and invaluable contribution. Our tax regime for charities, including Gift Aid and an exemption from paying business rates, is among the most generous of anywhere in the world, with tax reliefs for charities and their donors worth just over £6 billion for the tax year to April 2024.
Lords motion to take note of the Spring Forecast Statement. Agreed to on question.
Lords motion to take note of the Spring Forecast Statement. Agreed to on question.
My Lords, it is a privilege to open this debate on the spring forecast and the Second Reading of the finance Bill. I very much look forward to the valedictory speech from the noble Lord, Lord St John of Bletso.
On taking office, this Government inherited three major crises: a crisis...
My Lords, it is a privilege to open this debate on the spring forecast and the Second Reading of the finance Bill. I very much look forward to the valedictory speech from the noble Lord, Lord St John of Bletso.
On taking office, this Government inherited three major crises: a crisis...
My Lords, my first point is that the world economic situation now is very different from that existing at the time of the Spring Statement, let alone that in place when the finance Bill was introduced—different and significantly worse. The Middle East war has overturned economic expectations, especially optimistic ones.
A...
My Lords, my first point is that the world economic situation now is very different from that existing at the time of the Spring Statement, let alone that in place when the finance Bill was introduced—different and significantly worse. The Middle East war has overturned economic expectations, especially optimistic ones.
A...
What an excellent speech by the noble Lord, Lord St John of Bletso, the 22nd Baron St John of Bletso—a title that has existed for 460 years. I declare my interest: in the nearly 20 years that I have been privileged to be a Member here, my noble friend Lord...
What an excellent speech by the noble Lord, Lord St John of Bletso, the 22nd Baron St John of Bletso—a title that has existed for 460 years. I declare my interest: in the nearly 20 years that I have been privileged to be a Member here, my noble friend Lord...
Hear, hear!
Hear, hear!
The Statement on 3 March focused primarily on presenting the latest OBR forecasts, rather than announcing new policy measures. It forecast growth of about 1.1%, which is very low. It forecast inflation to fall from 3.4% to 2.3% this year. It forecast unemployment to rise to 5.3%, and net migration—which...
The Statement on 3 March focused primarily on presenting the latest OBR forecasts, rather than announcing new policy measures. It forecast growth of about 1.1%, which is very low. It forecast inflation to fall from 3.4% to 2.3% this year. It forecast unemployment to rise to 5.3%, and net migration—which...