Stamp Duty (Hansard, 2 July 1979)

§ Mr. Colin Shepherd
asked the Chancellor of the Exchequer if he will set out in the Official Report the total yield from stamp duty on house purchases for each financial year since 1970 –71.

§ Mr. Peter Rees
The estimated yield of stamp duty from residential property in the years 1973–74 to 1978–79 inclusive is given below. I regret that the information on which to base an estimate for earlier years is not available.

£ million

1973–74 45

1974–75 35

1975–76 45

1976–77 60

1977–78 85

1978–79 120

§ Mr. Cartwright
asked the Chancellor of the Exchequer what is the estimated revenue from stamp duty on home purchases during the current financial year as compared to 1978–79.

§ Mr. Peter Rees
, pursuant to his reply [Official Report, 27 June 1979], gave the following answer:
It is estimated that the yield of stamp duty from residential property in 1979–80

1979 1959 1939 1919

p p p p

Light wine^*

French still wine … … … 54 23 5 2

Still wine imported under Com monwealth preference/tariff quota† 56 20 3 2

French sparkling wine … … 66 31 14 3

Heavy wine^*

Spanish sherry

(a) 15 per cent.–18 per cent. 68 34 8 3

(b) 18 per cent.–22 per cent. 80 34 8 3

^* The present dividing line between light and heavy wine is 15 per cent. of alcohol. This corresponds approximately with the dividing line based on proof spirit which existed in the past.

† For 1979 the tariff quota rate of duty for qualifying wine from Cyprus (13 per cent.-15 per cent.) has been used. This applies to the United Kingdom's share of the Community quota.

	£ million
1973–74	45
1974–75	35
1975–76	45
1976–77	60
1977–78	85
1978–79	120

					1979	1959	1939	1919
					p	p	p	p
Light wine^*
French still wine	…	…	…	54	23	5	2
Still wine imported under Com monwealth preference/tariff quota†	56	20	3	2
French sparkling wine	…	…	66	31	14	3
Heavy wine^*
Spanish sherry
(a) 15 per cent.–18 per cent.	68	34	8	3
(b) 18 per cent.–22 per cent.	80	34	8	3
^* The present dividing line between light and heavy wine is 15 per cent. of alcohol. This corresponds approximately with the dividing line based on proof spirit which existed in the past.
† For 1979 the tariff quota rate of duty for qualifying wine from Cyprus (13 per cent.-15 per cent.) has been used. This applies to the United Kingdom's share of the Community quota.