HC Deb 02 May 1995 vol 259 c170W
Mr. Faulds

To ask the Secretary of State for National Heritage if he will specify the amounts of inheritance tax or its equivalent satisfied in connection with the acceptance of objects and property which have been covered in the public accounts by means of resort to the reserve in respect of each of the last 10 financial years; and what was the average annual figure of resort to the reserve for that purpose over the 10-year period in question. [20246]

Mr. Dorrell

The amount of tax satisfied in accepting works of art or land and buildings in lieu of tax through the public expenditure reserve over the last 10 years is as follows:

1985–86 1,367,600
1986–87 1,745,500
1987–88 7,338,444
1988–89 5,584,674
1989–90 9,977,898
1991–92 2,144,172
1992–93 4,324,875
1993–94 1,114,660
1994–95 3,759,616

The average annual resort to the reserve over this 10-year period was £3,735,744.