§ Mr. Arthur Lewis
asked the Chancellor of the Exchequer if he will estimate the total loss to the Inland Revenue in cases where individuals become bankrupt owing money in tax.
§ Mr. Ridley
The information is not available in the precise form requested. In the year ended October 1980, the latest year for which detailed figures are available, the Inland Revenue wrote off on grounds of taxpayers' insolvency income tax of £10 million, surtax of £2.7 million and capital gains tax of £900,000. The figure for income tax excludes tax due from employers in respect of tax deducted under PAYE from employees' remuneration; it may include some income tax collectable from companies.