§ Mr. Kirkwoodasked the Chancellor of the Exchequer how many of the transfers on which capital transfer tax was paid in the latest year for which figures are available attracted liability in the top three bands of the tax; and if he will estimate the effect on such transferors of the changes proposed in the Budget.
§ Mr. MooreFull information about the size of transfers is not collected centrally, but it is estimated that transfers by more than 200 transferors attracted liability in the top three bands of capital transfer tax in 1983–84. As a result of the changes proposed in the Budget the tax on transfers falling in the bands over £700,000 will be reduced by about £9 million in addition to the reduction from indexation.