HC Deb 14 March 2001 vol 364 c653W
Mr. Matthew Taylor

To ask the Chancellor of the Exchequer, pursuant to his answer to the hon. Member for Northavon (Mr. Webb) of 13 February 2001,Official Report, column 104W, on tax rates, what his estimate is of the first year yield of a 50 per cont. income tax rate for gross incomes exceeding £100,000 a year; and what estimate he has made of the proportion of full year capital gains tax yields which are received in the financial year the liability accrues. [151314]

Dawn Primarolo

[holding answer 26 February 2001): None of the capital gains tax yield for 2001–02 is estimated to be received in the same year because capital gains tax liabilities are normally due for payment in the financial year following the tax year for which the liability arises. The first year yield in 2001–02 of a 50 per cent. income tax rate for gross incomes exceeding £100,000 is £1.6 billion. The estimate is based on the Survey of Personal Incomes and is consistent with the March 2001 Budget.