§ Mr. NichollsTo ask the Chancellor of the Exchequer what was the gross amount of inheritance tax collected in the most recent year for which figures are available; what proportion of this sum is attributable to tax collected as a result of challenges by the Inland Revenue of the figures set out in the original grant of probate; and what estimate he has made for each of the most recent three years available of the amount of inheritance tax collected net of the expenses of collection. [35108]
§ Mr. JackThe provisional outturn of receipts from inheritance tax in 1995–96 is £1,559 million. It is estimated that about 63 per cent. of inheritance tax is collected before the grant of representation—or probate—is obtained. The Inland Revenue cannot, however, distinguish between voluntary compliance and challenge and negotiation by the capital taxes office in the amount of tax collected after the grant of representation.
Estimates of the amount of inheritance tax collected net of the cost of collection are given below:
Year Estimated receipts from inheritance tax net of cost of collection (£ million) 1993–94 1,313 1994–95 1,387 1995–96 (provisional) 1,535