Capital Gains Tax

HC Deb 21 March 1963 vol 674 c541

2. Miss Quennell

asked the Chancellor of the Exchequer what his estimate is of the administrative costs incurred in the first half of the fiscal year in implementing the capital gains tax.

The Chief Secretary to the Treasury (Mr. John Boyd-Carpenter)

I regret that it is not possible to make any precise estimate, but it must be small.

Miss Quennell

Why not, Sir?

Mr. Boyd-Carpenter

Because the officers who do this work also do a great deal of other related work and it is not possible to separate the cost of their doing one job from doing another.

Mr. Callaghan

Does the Chief Secretary think the revenue is likely to exceed the administrative cost?

Mr. Boyd-Carpenter

As I say, it is impossible to give a figure, but it is very small.