Capital Gains Tax (Hansard, 20 November 1974)

§ Mr. Ridley
asked the Chancellor of the Exchequer what he now expects to be the yield of capital gains tax during the fiscal year 1974–75.

§ Dr. Gilbert
£320 million, as shown in Table 7 of the Supplementary Financial Statement and Budget Report, 1974–75, which was published on 12th November. The receipts in 1974–75 of corporation tax on capital gains realised by companies are estimated at £90 million.
441W

§ Mr. Grist
asked the Chancellor of the Exchequer if he will list the annual receipt of capital gains tax from 1965 expressed in terms of the 1965 £ sterling and in money terms.

§ Dr. Gilbert
Receipts of capital gains tax for each year from 1965–66 are shown in column (a) below. The estimated receipts from corporation tax on capital gains realised by companies are given in column (b). Columns (c) and (d) give the corresponding figures at constant 1965–66 prices.

(£m.)

Year of receipt (a) (b) (C) (d)

1965–66 Nil Nil Nil Nil

1966–67 7.5 4 7 4

1967–68 15.8 11 15 10

1968–69 46.9 31 42 28

1969–70 127.6 96 108 82

1970–71 138.9 95 110 75

1971–72 155.1 67 112 49

1972–73 208.5 99 141 67

1973–74 323.6 80 198 49

(£m.)
Year of receipt	(a)	(b)	(C)	(d)
1965–66	Nil	Nil	Nil	Nil
1966–67	7.5	4	7	4
1967–68	15.8	11	15	10
1968–69	46.9	31	42	28
1969–70	127.6	96	108	82
1970–71	138.9	95	110	75
1971–72	155.1	67	112	49
1972–73	208.5	99	141	67
1973–74	323.6	80	198	49