§ Mr. Roper
asked the Chancellor of the Exchequer if he will publish in the OFFICIAL REPORT a table comparable to Table 13 of the 1972 Report of the Commissioners of Inland Revenue showing the estimated net product in 1973–74 of the present unified tax system, on the basis of the current year's Financial Statement.
§ Mr. Nott
The information on which the net product table is based does not become available until two years or more after the end of the tax year concerned and so nothing is yet available for 1973–74. The latest year for which figures are available is 1970–71 and figures for this will be published in the forthcoming 116th Report of the Commissioners of Inland Revenue.
§ Mr. John Grant
asked the Chancellor of the Exchequer if he will set out the amount of Schedule D income tax remitted in each of the five years ended with the year to October 1972, listing separately the principal reasons for the remission.
§ Mr. Nott
The table below shows the amounts of tax under Schedules A, B and D remitted or written off as irrecoverable for the five accounting periods to October 1972. The figures for A/C 68 are drawn to the last Friday in September 1968 and those for later A/Cs to the last Friday in October: thus the figures for A/C 69 cover a period of 13 months.421W
It is not possible to distinguish the amounts of Schedules A and B tax included but they are not likely to be substantial. The table does not include interest on unpaid tax.
£000 A/C 68 A/C 69 A/C 70 A/C 71 A/C 72 Remissions Hardship … 6 3 4 13 29 Equity … 373 390 482 553 815 Miscellaneous : amount recoverable not sufficient to justify costs of proceedings etc. … 301 454 561 877 3,558 Amounts irrecoverable Insolvency (including Composition) … 1,204 1,604 1,925 1,819 2,680 Miscellaneous : taxpayer gone abroad or untraceable etc. … 2,268 3,956 4,048 5,414 7,306 Totals … 4,152 6,407 7,020 8,676 14,388