§ Mr. Taverneasked the Chancellor of the Exchequer what is the cost in the 236W current year of giving relief to employees in respect of mortgage interest, contributions to life assurance, superannuation and occupational pension schemes, respectively, for both income tax and surtax.
§ Mr. Patrick JenkinProvisional estimates are as follows:
Income Tax Surtax £ million £ million Mortgage Interest 300 5 Life Assurance generally 100 nil Pensions and superannuation schemes 80 2
§ Mr. Taverneasked the Chancellor of the Exchequer what is the cost to the Revenue in the current year of giving relief to employers for contributions paid for the benefit of their employees for life assurance, superannuation and occupational pension schemes, respectively, for income tax, surtax and corporation tax.
§ Mr. Patrick JenkinEmployers' ordinary annual contributions to these schemes are deductible as a business expense; the estimated additional taxes which would have been payable if employers' contributions to these schemes were not deductible in computing business profits is in the region of £300 million corporation tax, £5 million income tax and £1 million surtax.
§ Mr. Taverneasked the Chancellor of the Exchequer what is the cost to the Revenue in the current year of giving relief to non-employed persons against investment income in respect of mortgage interest and life assurance.
§ Mr. Patrick JenkinI regret that information on which to base an estimate is not available.