§ Ms HarmanTo ask the Chancellor of the Exchequer what proportion of tax credits on share dividends becoming available to tax-exempt entities in each of the years 1990–91, 1991–92 and 1992–93 were claimed in the same year.
§ Mr. DorrellI regret that the information requested is not available. However, it is estimated that about 75 per cent. of total repayments of income tax and payments of tax credits to tax exempt institutions are made in the year in which the recipient first becomes entitled to the repayment or payment.
§ Ms. HarmanTo ask the Chancellor of the Exchequer, pursuant to his answer of 10 May,Official Report, column 327, on what basis he has made the assumption that about half of tax credits on share dividends held by charities are claimed in the same year in which the dividend is paid.
§ Mr. DorrellThe assumption is based on the knowledge that many claims by charities for payment of tax credits are made after the end of the financial year in which the dividend is paid. For example, many charities submit an annual claim for income tax repayments and payments of tax credits after the end of the relevant financial year.