HC Deb 27 February 1986 vol 92 c689W
Dr. McDonald

asked the Chancellor of the Exchequer whether, in the manner of the answer given on 14 February 1985, Official Report, column 288, he will publish an updated table on direct revenue effects for 1985–86.

Mr. Moore

[pursuant to his reply, 13 February 1986, c.540]: The table shows the additional yield in respec of 1985–86 from the specified taxes if 1978–79 rates, allowances and rate bands (after indexation to 1985–86 levels) were substituted for 1985–86 rates, allowances and rate bands.

Additional yield from reverting to 1978–79 tax structure
on 1985–86 tax base
£ million
Income tax 6,200
of which
Investment Income Surcharge 740
Rates and thresholds above the basic rate (excluding investment income surcharge) 1,285
Capital transfer tax 70
Capital gains tax 550

In each case, the 1985–86 tax base is taken as given. It is not possible to determine to what extent changes in the taxes between 1978–79 and 1985–86 may have affected levels of income and transfers and disposals of capital.

The figures for capital transfer tax and capital gains tax are on a different basis from those in the previous reply. The present basis corresponds to that adopted for income tax.