Capital Gains Tax

HC Deb 30 November 1993 vol 233 cc384-5W

Mr. Mandelson

To ask the Chancellor of the Exchequer if he will give for each year since 1979 the total tax yield from individual gains tax and inheritance tax; and if he will give for each year since 1988–89 the number of individual taxpayers liable for capital gains tax by their highest marginal rate of tax.

Mr. Dorrell

The available information on net receipts each year since 1979–80 from capital gains tax, capital transfer tax and inheritance tax is given in the table. Separate figures on capital gains tax receipts for individuals and trusts are not available, but, in terms of tax liabilities, individuals account for between 85 per cent. and 90 per cent. of the total.

£ million
	Inheritance tax-capital transfer tax1	Capital gains tax
	Total	of which charge on individuals2	Total
1979–80	401	376	431
31980–81	425	401	508
31981–82	480	457	526
1982–83	499	580	671
1983–84	599	580	671
1984–85	658	621	730
1985–86	881	857	908
1986–87	988	963	1,064
1987–88	1,073	1,052	1,379

	Inheritance tax-capital transfer tax1	Capital gains tax
	Total	of which charge on individuals2	Total
1988–89	1,067	1,042	2,323
1989–90	1,227	1,207	1,854
1990–91	1,259	1,233	1,852
1991–92	1,295	1,261	1,140
1992–93	1,201	1,170	982
1 Excludes small residual receipts from estate duty which was replaced by capital transfer tax in 1975.
2 Includes charges on settled property where the individual has an interest in possession.
3The breakdown of receipts between 1980–81 and 1981–82 was estimated as they were affected by industrial action between March 1981 and July 1981.

The breakdown of capital gains taxpayers given in the table includes a separate column for trusts in order to reconcile with published figures on taxpayer numbers.

Number of capital gains taxpayers
Highest rate of tax charged on individuals
	Lower rate	Basic rate	Higher rate	Trusts	All
1988–89	—	52,000	87,000	16,000	155,000
1989–90	—	48,500	88,000	18,500	155,000
1990–91	—	44,000	57,500	13,500	115,000
1991–92	—	34,000	45,000	11,000	90,000
1992–931	4,000	29,000	42,000	10,000	85,000
1Provisional.