HC Deb 03 May 1994 vol 242 cc406-7W
Mr. Gill

To ask the Chancellor of the Exchequer what is the estimated cost of the relief and allowances against(a) inheritance tax and (b) capital gains tax in the current financial year.

Mr. Nelson

The cost of the inheritance tax nil rate band for transfers not exceeding £150,000 in 1994–95 is estimated to be £4.4 billion. This figure is particularly tentative and subject to a wide margin of error.

Estimates of the costs of other reliefs and allowances against capital gains tax and inheritance tax for 1994–95 could be provided only at disproportionate cost. However, estimates for 1993–94 were published in table 1.6 and in appendix B of an Inland Revenue publication "Inland Revenue Statistics 1993". A copy of this was placed in the Library. Updated figures for 1994–95 will be published later in the year.

Back to