§ Mr. Austin Mitchell
asked the Chancellor of the Exchequer, further to his reply dated 16 March, Official Report, c. 163–66, concerning payment of tax on income earned overseas, whether he will estimate the increase in the asset base held overseas in each of those years on which tax is payable to the United Kingdom authorities.
§ Mr. Ridley
I regret that the information requested is not available. Capital transfer tax and capital gains tax are both levied on the change of ownership or disposal of assets. No statistical information is available on the extent of such changes in the years requested. Income tax may or may not be related to the possession of assets. Income from assets is not always distinguished from that derived from trading. It is impossible, therefore, to provide information on the assets which generated the income.