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Poinding and Warrant Sales
Dr. Godman:
To ask the Chancellor of the Exchequer what discussions he has had with the Scottish Executive concerning the implications of the Abolition of Poinding
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and Warrant Sales Bill for the debt-recovery procedure of the Inland Revenue and Customs and Excise; and if he will make a statement. [105748]
Dawn Primarolo:
Officials in the Revenue Departments and the Scottish Executive have discussed the implications of this Bill. They will also be considering the Scottish Law Commission's discussion paper on Poinding and Warrant Sales published in November last year. This raises similar considerations and looks at options for reform, and will be considered very carefully. Our main concern is to ensure that there will remain an adequate power of recovery in Scotland for the Revenue Departments.
Mr. Bercow:
To ask the Chancellor of the Exchequer what proportion of the EU's budget, broken down by substantial composite budget category, is taken up by administrative costs (i) in real terms and (ii) expressed as a percentage. [106393]
Miss Melanie Johnson:
In 1998 (the most recent year for which final data are available) total administrative costs in the EU were 4,250 million euros in real terms.
Total administrative costs as a percentage of the total Community budget in 1998 were 4.8 per cent.
Mr. Efford:
To ask the Chancellor of the Exchequer (1) what representations he has received regarding the regulation of permanent health insurance companies by the Financial Services Authority; and if he will make a statement; [106494]
(3) if permanent health insurers will be required to be authorised by the Financial Services Authority; [106498]
(4) if he will list the criteria under which businesses with group permanent health insurance policies can complain to the insurance industry's ombudsman service; and if he will make a statement; [106502]
(5) if group permanent health insurance policies will be covered by the Financial Services Authority's ombudsman scheme; [106499]
(6) how many businesses have complained to the insurance industry's ombudsman service during the last year for which statistics are available; and how many complaints were successful. [106503]
Miss Melanie Johnson:
Permanent health insurers carrying on business in the United Kingdom will be required to be authorised either by the Financial Services Authority (FSA) or, in the case of European Community companies incorporated and with their head offices in another member state, to be authorised in accordance with Article 6 of the first long term insurance Directive.
No data are available which would distinguish enquiries and complaints brought by businesses as distinct from individuals.
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The Treasury receives considerable correspondence on a range of issues concerning the insurance industry, but representations about the regulation of permanent health insurance companies have not been especially prominent.
The criteria that render a complaint eligible for consideration under the rules of the two main Ombudsmen schemes are determined by the schemes' terms of reference and by the interpretation of those terms by the parties to those arrangements.
The Financial Services Authority and the Financial Services Ombudsman Scheme issued a consultation paper (FSA Consultation Paper 33) last November on various aspects of the proposed scheme. The consultation ends on 10 February 2000. Copies of the consultation document are available from the FSA.
Mr. Matthew Taylor:
To ask the Chancellor of the Exchequer what percentage of his Department's activity, as targeted under Objective Ten of the PSA productivity targets, has been reviewed. [106800]
Miss Melanie Johnson:
The Treasury's Public Service Agreement committed it to draw up a forward programme for reviewing services and activities systematically over five years under the Better Quality Services initiative by September 1999 and this has been achieved. Activities representing 34 per cent. of costs will have been reviewed by the end of the first year, and 60 per cent. of reviews should be complete by March 2003.
Mr. Gardiner:
To ask the Chancellor of the Exchequer how many employees of his Department took early retirement packages; and at what total cost in the financial year 1996-97. [104100]
Miss Melanie Johnson:
Eight Treasury staff left the Department on early retirement terms in the financial year 1996-97. The Department incurred costs in respect of five of these totalling £195,324.63 in 1996-97.
Mr. Matthew Taylor:
To ask the Chancellor of the Exchequer what is his estimate of the revenue yield for (a) the first year and (b) a full year from abolishing the (i) enterprise investment scheme and (ii) venture capital trusts; and if he will make a statement. [106463]
Dawn Primarolo
[holding answer 24 January 2000]: The estimated costs of tax reliefs for the Enterprise Investment Scheme and Venture Capital Trusts are £100 million and £80 million respectively for 1999-2000. Investors generally claim tax relief under these schemes in their tax returns so the first year yield from abolition would be small. In practice it is unlikely that a yield of this order would be realised as the money which would have been invested in the schemes would be diverted elsewhere with a knock-on effect on other reliefs. The Enterprise Investment Scheme and Venture Capital Trust
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scheme play a valuable role in encouraging investment in small higher risk trading companies which have difficulty in raising capital from other sources to develop and grow.
Mr. Matthew Taylor:
To ask the Chancellor of the Exchequer if he will estimate the (a) first year and (b) full year revenue yield from introducing a single, untapered, rate of capital gains tax of 40 per cent.; how this yield would change over each of the next 10 years; and if he will make a statement. [106508]
Dawn Primarolo
[holding answer 24 January 2000]: The full year yields, first year and medium terms, of charging a 40 per cent. tax rate, irrespective of income, on the untapered gains of all individuals and trusts are shown in the table. Estimates are given after taking into account the likely effect on capital gains tax yield of changes to the volume and timing of disposals in a full year, caused by changes in taxpayers' behaviour. Capital Gains Tax liabilities for 2000-01 will normally be payable in 2001-02.
(2) what representations he has received regarding third party access to the Financial Services Authority's single ombudsman service for employees covered by permanent health insurance; and if he will make a statement; [106497]
| Charge all untapered gains to tax at 40 per cent. | Full year yield 2000-01 £ million | Full year yield Medium term £ million |
|---|---|---|
| With behavioural effects (volume and timing) | 600 | 800 |
Capital gains made by companies, including those gains of insurance companies which are attributable to policy holders, are chargeable to corporation tax and, as such, excluded from the above figures.
Mr. Matthew Taylor:
To ask the Chancellor of the Exchequer what is his estimate of the revenue yield from abolishing capital gains tax relief on gains accrued but unrealised at death; and if he will make a statement. [106460]
Dawn Primarolo
[holding answer 24 January 2000]: The latest available estimate of the cost of Capital Gains Tax relief for gains accrued but unrealised at death is £850 million for 1999-2000.
In practice, the yield from abolition of the relief may be significantly different from the existing cost owing to changes in taxpayers' behaviour.
Mr. Matthew Taylor:
To ask the Chancellor of the Exchequer if he will estimate the annual (a) first year and (b) full year revenue yield from reducing the capital gains tax annual exempt amount for individuals to (i) £5,000, (ii) £2,500 and (iii) zero; and if he will make a statement. [106507]
Dawn Primarolo
[holding answer 24 January 2000]: The full year yields from reducing the Annual Exempt Amount to £5,000 and £2,500 respectively from 2000-01 are shown in the table. Estimates are given after taking into account the likely effect on capital gains tax yield of changes to the volume of disposals in a full year, caused by changes in taxpayers' behaviour. Capital Gains Tax liabilities for 2000-01 will normally be payable in 2001-02.
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| Reducing annual exempt amount to: | Full year yield 2000-01 £ million | Full year yield medium term £ million |
|---|---|---|
| With behavioural effects | ||
| £5,000 | 100 | 150 |
| £2,500 | 350 | 450 |
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