HC Deb 01 March 1984 vol 55 c273W
Mr. Rowe

asked the Chancellor of the Exchequer if he will furnish a break-down for the year ended 31 March 1983 for the total amount of capital transfer tax collected in that year in respect of (a) property comprising a deceased tax payer's principal private residence, (b) investment property, (c) quoted investments, (d) chattels and other assets and (e) assets eligible for business property relief.

Mr. Moore

As capital transfer tax is levied on estates as a whole, it can only be allocated to individual assets on an arbitrary basis. This has been done in respect of the assets shown, so far as they are dutiable, by treating each group in turn as if it were the top slice of dutiable property in the estates containing them. While the figures are comparable between assets they are not additive. The assets groups shown are as near as possible to those requested.

Asset type Capital transfer tax 1982–83 £ million
United Kingdom residential property 220
Other United Kingdom buildings 7
United Kingdom listed securities 250
Household goods etc. 40
Business assets (including unlisted shares) 30

Mr. Rowe

asked the Chancellor of the Exchequer if he will estimate the amount of tax which would be deferred if capital transfer tax arising on assets eligible for business property relief were only payable when such assets were sold for cash.

Mr. Moore

The amount would depend on the extent to which the assets were sold for cash, but in 1982–83 it would not have exceeded £30 million, the tax on the total of assets eligible for the relief.