§ 38. Mr. Richard Wainwrightasked the Chancellor of the Exchequer what is the approximate proportion of assessments to Capital Gains Tax already made which are still under appeal at the present date.
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§ Mr. MacDermotOn the last count in November, 1966, approximately 1½ per cent. of the assessments made up to the end of September.
§ Sir W. Robson Brownasked the Chancellor of the Exchequer if he will state the total gross yield of Capital Gains Tax since November, 1964, the total of capital losses allowed against the yield, and the estimated cost of collecting the tax.
§ Mr. DiamondThe total gross yield of Capital Gains Tax to 31st March, 1967 was £7.2 million. This excludes the Corporation Tax on the capital gains of companies and a small amount of Capital Gains Tax taken into account in settling income tax liabilities.
The figure for capital losses is not available. The cost of collecting Capital Gains Tax cannot satisfactorily be segregated from the cost of collecting other taxes.