§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer (1) when it was decided to propose legislation to obtain additional tax from building societies for the financial year 1985–86; and when and how an estimate was published of the financial effect on total tax receipts and on the tax to be paid by societies;
(2) what was the best estimate of the revenue effect at the time it was decided to propose legislation to obtain additional tax from building societies for the financial year 1985–86.
§ Mr. MaplesI refer my hon. Friend to the answers given to him on 15 April, at columns 9–10, and 22 April, at columns 300–1. The 1986 legislation changing the way building societies account for tax on interest and dividends paid did not involve additional tax.
§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer if he will publish a table of Inland Revenue statistics for each year since 1985, showing the schedule for composite rate tax on building society interest for each year since 1980–81.
§ Mr. Maude[holding answer 5 July 1991]: The information requested is shown in the table:
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Receipts in 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 1987–88 1988–89 1989–90 1988 1,217 1,425 1,583 1,550 1,844 2,608 2,539 2,694 — — 1989 1,217 1,425 1,583 1,550 1,844 2,608 2,539 2,694 2,686 — 1990 1,217 1,425 1,583 1,550 1,844 2,608 2,539 2,694 2,678 3,713 Note: Receipts of tax subsequently repaid as the result of decisions by the courts are included.