§ Mr. Ralph Howellasked the Chancellor of the Exchequer if he will publish a table showing at current prices and at constant prices the starting rate threshold for capital transfer tax and the thresholds for each higher rate band, in March 1974 and in January 1978.
§ Mr. Robert SheldonThe table below shows the thresholds which were applicable to lifetime transfers in March 1974—and to transfers on death from November 1974—at prices current in March 1974 and at current retail prices in November 1977, the latest month for which figures are available, together with the corresponding thresholds applicable at present
March 1974 Thresholds At March 1974 prices £ At November 1977 prices† £ Present Thresholds‡ £ 15,000 27,400 25,000 20,000 36,500 30,000 25,000 45,700 35,000 30,000 54,800 40,000 40,000 73,100 50,000 50,000 91,300 60,000 60,000 109,600 70,000 80,000 146,100 90,000 100,000 182,700 110,000 120,000 219,200 130,000 150,000 274,000 160,000 200,000* 365,300* 210,000* 250,000* 456,600* 260,000* 300,000* 548,000* 310,000* 500,000* 913,300 510,000 1,000,000 1,826,500 1,010,000 2,000,000 3 653,000 2,010,000 * Life-time transfer only. † Rounded to the nearest £100. ‡ As proposed in the Chancellor of the Exchequer's Economic Statement on 26th October 1977.