§ Mr. Masonasked the Chancellor of the Exchequer what was the total value of farmer's special tax arrangements in each year since 1969.
§ Mr. Peter Rees[pursuant to his reply, 5 November 1979, c. 26]: Statistics are not available for the cost of all the tax reliefs which are available only to farmers. Following are the available figures:
364WCapital allowances
(i) Writing-down allowances for agricultural and forestry buildings and works.
Year in which profit arose Estimated value £m 1969 10 1970 12 1971 13 1972 15 1973 15 1974 15 1975 20 1976 19 The figures represent tax relief in respect of allowances due for the years shown, on the assumption that all the allowances are covered by profits. Figures for later years are not available.
(ii) Initial allowance for agricultural and forestry buildings and works.
This was introduced by the Finance Act 1978 and was estimated to cost £10 million in a full year.
Averaging relief for farmers
This was introduced by the Finance Act 1978 and was estimated to cost £10 million in a full year.
Estate duty and capital transfer tax Year in which tax paid Esimated value of reliefs for agricultural property £m 1969–70 11 1970–71 10 1971–72 11 1972–73 17 1973–74 26 1974–75 26 1975–76 19 1976–77 9 1977–78 10 1978–79 10 The figures do not include relief given to farmers in respect of their farms under the general business relief provisions.