§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer, pursuant to his answer of 9 November 2000,Official Report, column 343W, concerning capital gains tax indexation, what estimate he has made of the behavioural effects arising from re-introducing indexation and abolishing taper relief, while reintroducing retirement relief on the revenue yield. [146153]
§ Dawn Primarolo[holding answer 22 January 2001]: The Government remain committed to the system of taper relief within capital gains taxation so no detailed analyses of the behavioural effects of abolishing taper relief while reintroducing indexation and retirement relief have been made.
§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what percentage of capital gains tax is paid by income tax payers with a taxable income below(a) £10,000, (b) £20,000 and (c) £30,000 per year. [146260]
571W
§ Dawn PrimaroloFor 1997–98, the latest available year, the distribution of capital gains tax (CGT) liabilities of individual CGT taxpayers, by range of their taxable income, is as follows:
Capital gains tax: individuals 1997–98 Taxable income: Lower limit Proportion of total capital gains tax (Per cent.) £0 10.6 £10,000 6.3 £20,000 6.4 £30,000 76.8 All ranges 100 Note:
For 1997–98, 140 thousand individual takpayers had total CGT liabilities of £1,637 million.
§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what estimate he has made of the average benefit of(a) the exemption of capital gains tax on first homes and (b) the annual exempt amount of capital gains tax and the number of people who will benefit from each in 2001–02. [146258]
§ Dawn PrimaroloTentative estimates of the total cost of these exemptions for 2000–01 are given in the Tax Ready Reckoner, November 2000, which is available in the House of Commons Library. Estimates for 2001–02 are not yet available.