§ Mr. Trotter
asked the Chancellor of the Exchequer (1) when the income limit of £2,000 was established for the submission by employers of details of benefits received by their employees in connection with form P11D;
(2) what is the present equivalent figure in real terms of the £2,000 limit fixed on form P11D; and if he will now increase the level of income at which such forms are required.
§ Dr. Gilbert
The income limit was set at £2,000 when the special tax rules relating to expenses and benefits were introduced in 1948. Its present equivalent in real terms—as measured by the movement in the retail price index—is £6,000. I have noted the hon. Member's suggestion that it should be raised.