§ Mr. Adleyasked the Chancellor of the Exchequer what he assesses to be the value, in percentage terms, of the tax element in a 90 per cent. fare concession available to airline employees and their families; and if he will publish the basis of calculating this taxable benefit.
§ Mr. Robert Sheldon, pursuant to his reply [Offical Report, 17th May 1976, Vol. 911, c. 345–6], gave the following information:
The benefit will be calculated as the difference between the arms length price of the facility and the amount actually paid by the employee, taking account of the terms on which the concessionary fare is offered. The tax payable will depend upon the individual's marginal rate of tax.
578W
AMOUNTS OUTSTANDING 31ST DECEMBER 1974 ASIA £ thousand Amortisation Interest Total EASTERN AND SOUTH-EASTERN ASIA Commonwealth Hong Kong (D) … … … … 200 — 200 Malaysia … … … … 19,306 — 19,306 Singapore … … … … 18,931 — 18,931 … … … … 38,437 — 38,437 Non-Commonwealth Cambodia … … … … 428 — 428 Indonesia … … … … 39,152 — 39,152 Korea (South) … … … … 236 47 283 Vietnam (South) … … … … 1,000 — 1,000 … … … … 40,816 47 40,863 Total … … … … 79,253 47 79,300
§ Mr. Adleyasked the Chancellor of the Exchequer what addition revenue he expects to obtain from his proposals to tax concessionary fares of the staff of British Airways and other British airlines.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report 17th May 1976; Vol. 911, c. 346], gave the following answer:
I regret that information on which to base a satisfactory estimate is not available.
§ Mr. Adleyasked the Chancellor of the Exchequer how many people, employees of British and foreign airlines, will be affected by his proposals to tax their concessionary air fares.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report 17th May 1976; Vol. 911, c. 347], gave the following answer:
I regret that this information is not available.