§ Lord Hodgson of Astley Abbotts asked Her Majesty's Government:
§ (a) what amount was raised from capital gains tax; (b) what was the number of payers of capital gains tax; and (c) what was the estimated cost of collection, in the latest year for which figures are available. [HL4458]
45WA§ Lord McIntosh of HaringeyThe latest available information on capital gains tax receipts and costs of collection, to be released shortly in IR Statistics 2000 and the Annual Report of the Board of Inland Revenue, is given in the table.
Capital Gains Tax Net Receipts (1) Cost of Collection (2) Year £ million £ million 1999–00 2,122 31.5 1. Excludes tax on gains of companies, which are charged to corporation tax.
2. Relates mainly to the costs arising from gains to individuals and trustees but some other costs (mainly of land valuations for companies) cannot be separately identified and are included in the collection costs of capital gains tax.
It is estimated that 154 thousand taxpayers had a capital gains tax liability for 1998–99, the latest year for which information is available. Capital gains tax liabilities are normally due for payment in the year following the tax year for which the liability arises.