§ Mr. Ralph Howellasked the Chancellor of the Exchequer if he will publish a table showing the value of tax refunds paid to single persons, married couples and families with each of one, two, three and four children, all in receipt of short-term national insurance benefit, expressed as a percentage of average earnings net of income tax and national insurance in 1970–71 and in 1976–77.
approximately as shown in the table below.
ing that one-third, one-half and five-sixths of the value of the business would have qualified for the 45 per cent. relief for certain types of business assets; and what would be the corresponding figures for capital transfer tax after 6th April 1976 on a lifetime transfer and on death.
§ Mr. Denzil DaviesOn the assumption that no other assets are involved, the information is as follows:
Estate Duty Proportion of value of business qualifying for 45 per cent. relief Duty £ (a) one-third 114,537 (b)one-half 104,431 (c) five-sixths 84,218 Capital Transfer Tax (a) On a lifetime transfer £ (i) Tax borne by donee 40,750 (ii) Tax borne by donor 78,056 (b) On death 69,750