§ Mr. DobsonTo ask the Chancellor of the Exchequer what is the reduction in annual liability to(a) capital gains tax and (b) capital transfer tax in 1987–88 as compared
Reduction, compared with indexed 1978–79 regime, in: Taxpayer Numbers (thousands) Total Average 1978–79 1987–88 Liability (£ million) Liability1 (£) Indexed Regime Regime Capital Gains Tax 1,200 1,800 650 200 Capital Transfer Tax/Inheritance Tax 250 3,800 70 30 1 Calculated for the number of taxpayers under the 1978–79 indexed regime. The figures for capital gains tax exclude capital gains realised by companies and taxed within corporation tax.
In each case the 1987–88 tax base is taken as given. It is not possible to determine to what extent changes to the taxes between 1978–79 and 1987–88 may have affected the levels of transfers and disposals.