Capital Transfer Tax

HC Deb 05 February 1985 vol 72 cc522-3W

Dr. McDonald

asked the Chancellor of the Exchequer what has been the cost to the Exchequer since 1980–81 of the alteration in the rates of capital transfer tax.

Mr. Moore

[pursuant to his reply, 31 January 1985, c. 314]: If capital transfer tax had been charged at 1980–81 rates, indexed after 1982–83 in accordance with the provisions of the Finance Act 1982, it is estimated that receipts in subsequent years would have been greater by the following amounts:

	£ million
1981–82	2
1982–83	40
1983–84	60
1984–85	50

No allowance has been made for the possibility that the difference in tax rates would have affected the amounts chargeable.