§ Mr. Gowasked the Chancellor of the Exchequer what was the total income of charities during each of the five years ended 5 April 1978; and what was the total capital value of assets held by charities on 5 April 1978 and on the same date in each of the four previous years.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 16 March 1979; Vol. 964, c. 370], gave the following answer:
The available estimates are approximate and relate to calendar years.
Total income of charities* Net assets of charities (at market value) 1973 1,200 7,025 1974 1,350 5,925 1975 1,600 8,500 1976 1,850 9,175 1977 1,980 10,900 These figures are based on a survey of charities in 1970 and 1975. * Receipts from other charities are netted out and the figures include the benefits of owning the property they occupy.
§ Mr. Gowasked the Chancellor of the Exchequer what was the total amount given to charities in the United Kingdom by individuals and corporations in each of the five years ended 5 April 1978; (a) under deed of covenant, (b) in other ways by gifts inter vivos from individuals and corporations and (c) by will.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 16 March 1979; Vol. 964, c. 371], gave the following answer:
The information on which to base precise estimates of the income paid to United Kingdom charities under deeds of covenant and of lifetime gifts made to them is not available. If it is assumed that the income tax repayments made on account of covenanted income in any one financial year relate approximately to the income of that financial year the 612W estimated income from covenants might be of the following order.
£ million 1973–74 95 1974–75 80 1975–76 85 1976–77 100 1977–78 120 Although the total of bequests to United Kingdom charities is not known, the amounts on which exemptions from estate duty and capital transfer tax were granted in respect of estates above the tax threshold in 1976–77 and 1977–78 were £53.3 million and £55.6 million respectively. Reliable figures for earlier years are not available.
§ Mr. Gowasked the Chancellor of the Exchequer what was the gross amount of moneys contributed to charities in the United Kingdom under deed of covenant during each of the past five years by (a) individuals and (b) corporations; what was the amount of tax recovered by the recipient charities in each year; and what is his latest estimate of the equivalent figures for the current financial year.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 16 March 1979; Vol. 964, c. 372], gave the following answer:
The information on which to base precise estimates of the contributions paid to charities under deeds of covenant is not available. If, however, it is assumed that the income tax repayments made on account of covenanted income in any one financial year relate approximately to the income of that financial year the estimated income from covenants might be of the following order.
£m 1973–74 95 1974–75 80 1975–76 85 1976–77 100 1977–78 120 The amount of the repayments in 1978–79 would suggest a provisional figure of about £135 million for the current year. It is not possible to derive an allocation of these amounts to distinguish contributions from (a) individuals and (b) corporations.
§ Mr. Gowasked the Chancellor of the Exchequer what is his latest estimate of 613W the cost to the Exchequer during the current financial year of relief from (a) income tax, (b) capital gains tax and (c) corporation tax for charities during the current financial year; and what are the equivalent figures for each of the past five years.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 16 March 1979; Vol. 964, c. 372], gave the following answer:
The information on which to base an estimate of the total cost of relief to charities is not available but it is estimated that some £120 million of income tax will be repayable to charities during 1978–79.
The income tax repayments for the past five years were as follows:
£m 1973–74 73 1974–75 73 1975–76 90 1976–77 111 1977–78 120 These figures include income tax repaid on general income as well as on covenanted income.