HC Deb 28 April 1975 vol 891 cc62-3W
Mr. Giles Shaw

asked the Chancellor of the Exchequer what is the number of new assessments brought under surcharge taxation by the present thresholds of (a) £1,000 and (b) £1,500 and the amounts of revenue produced.

Mr. Robert Sheldon

The number of taxpayers made liable to the investment income surcharge for 1974–75 by the reduction in the threshold from £2,000 to £1,000 or £1,500 for the elderly is estimated at about 280,000 and the additional yield from them at £10 million. Of this number about 70,000 are elderly taxpayers and the yield from them—included in the £10 million—is estimated as £2 million. The total full-year yield of the reduction in the threshold, including the extra tax paid by those already liable to the surcharge, is estimated at about £40 million at 1974–75 income levels.