Personal Allowance

HC Deb 17 May 1976 vol 911 cc329-30W

Mr. Pardoe

asked the Chancellor of the Exchequer if he will estimate for the current tax year and for 1975–76 the revenue forgone by additional personal allowance, and the percentage of this which is at higher rates of tax.

£135 million for 1975–76. Higher rates of tax do not apply at the levels of income which qualify for age allowance.

Mr. Pardoe

asked the Chancellor of the Exchequer if he will estimate for the current tax year and for 1975–76 the revenue forgone by age exemption—single persons, and the percentage of this which is at higher rates of tax.

Mr. Robert Sheldon

The estimates for the cost of the single age allowance are £85 million for the current year and £80 million for 1975–76. Higher rates of tax do not apply at the levels of income which qualify for age allowance.