§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what are his estimates of the(a) total tax assessed and (b) total tax refunded in respect of profits or losses made by the underwriting members of Lloyd's of London in each of the years since 1977–78. [28673]
§ Sir George Young[holding answer 15 June 1995]: The available information is shown in the table, and covers (a) the total tax charged on initial assessments, including estimated assessments, made during each tax year on underwriting profits and gains and (b) the total of income tax and capital gains tax repaid to Lloyd's underwriters by the underwriters unit of Inland Revenue in each tax year, including any repayment supplement attracted by the tax refunded.
£ million Tax year (a) Initial assessments (b) Repayments 1977–78 43.6 not available 1978–79 53.0 not available 1979–80 60.5 not available 1980–81 72.1 not available 1981–82 75.9 not available 1982–83 96.3 24.3 1983–84 146.9 85.6 1984–85 153.5 87.1 1985–86 182.7 62.0 1986–87 204.0 160.3 1987–88 152.5 155.6 1988–89 157.3 157.7 1989–90 308.9 118.2 1990–91 228.2 91.0 1991–92 101.8 126.7 1992–93 10.3 386.6 1993–94 3.7 479.1 1994–95 8.9 375.4