§ Mr. Dobson
asked the Chancellor of the Exchequer (1) what percentage of total actual central Government 466W revenue was accounted for by taxation actually paid by the corporate sector, including oil companies and banks, in each of the financial years since 1974–75, including an estimate for the current year;
(2) what percentage of total actual central Government revenue was accounted for by taxation actually paid by the corporate sector excluding oil companies and banks, in each of the financial years since 1974–75 including an estimate for the current year.
§ Mr. Peter Rees
[pursuant to his reply, 22 January 1981, c. 232.]: The table below expresses taxes received by Inland Revenue on the income and capital gains of all companies and public corporations as a percentage of total central Government current receipts plus receipts from taxes on capital. The numerator includes corporation tax, income deducted from investment income and petroleum revenue tax but revenue such as PAYE which is collected by companies and public corporations on behalf of the Government is excluded.
Financial year Percentage 1974–75 9.3 1975–76 5.3 1976–77 6.1 1977–78 7.0 1978–79 7.6 1979–80 8.9 * 1980–81 8.7 * Estimate derived from forecasts in Financial Statement and Budget Report 1980–81.
No breakdown is available which distinguishes the total corporation tax received from banks and oil companies.