Capital Transfer Tax

HC Deb 13 May 1976 vol 911 cc218-9W

32. Mr. David Mitchell

asked the Chancellor of the Exchequer by how much capital transfer tax would have to be reduced in order to compensate actuarially for inflation since it was first introduced.

Mr. Joel Barnett

There is no obvious way in which the yield of capital transfer tax could be adjusted to compensate specifically for the effect of inflation on the assets subject to the tax.