§ Dr. McDonaldasked the Chancellor of the Exchequer what is his estimate of the potential costs of the proposals contained in the consultative document "Capital Transfer Tax and Settled Property".
Inland Revenue Receipts Corporation Tax Income Tax Surtax Estate Duties CTT CGT Mainstream Corporation Tax* Advance Corporation Tax Total All Inland Revenue Taxes† Total Receipts 1979–80 20,599 11 32 401 431 2,814 1,832 4,646 28,201 1980–81‡ 23,830 8 17 400 490 3,160 1,700 4,860 32,860
Receipts as a Proportion of the Total for Each Year Corporation Tax Income Tax Surtax Estate Duties CTT CGT Mainstream Corporation Tax* Advance Corporation Tax Total All Inland Revenue Taxes† Total Receipts 1979–80 73.0 0.0 0.1 1.4 1.5 10.0 6.5 16.5 100 1980–81‡ 72.5 0.0 0.1 1.2 1.5 9.6 5.2 14.8 100 * Mainstream corporation tax is defined as total corporation tax less advance corporation tax. The figures exclude transitional relief under Finance Act 1965. †Includes also petroleum revenue tax, development land tax and stamp duties. ‡ From the Financial Statement and Budget Report 1980–81.