§ Mr. Michael Lathamasked the Chancellor of the Exchequer whether he will bring up to date the information regarding development gains tax, corporation tax, first lettings charge and annual administrative costs given by the Minister of State in reply to three Questions by the hon. Member for Melton on 2nd February 1977.
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§ Mr. Denzil Davies, pursuant to his reply [Official Report, 10th November 1977; Vol. 938, c. 190–1], gave the following information:
The latest information available is as follows:
Further inquiry has shown that it would be unduly expensive to obtain information about the number of assessments in respect of first lettings and the tax attributable to them in cases involving liability other than those of companies.
Receipts (£m.) 340 assessments to income tax on development gains 8.7 52 assessments to corporation tax on development gains and in respect of the charge on first lettings 1.2 The annual administrative costs are currently estimated at about £65,000.