§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer whether he will publish in theOfficial Report a table giving for the most recent financial year the information on farm incomes for tax purposes given in his written reply dated 14 March 1985, Official Report, column 246.
§ Mr. Norman Lamont[holding answer 29 July 1988]: The latest available information is for 1985–86 and is given in the tables.
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Table 3: Individuals—gros: profit, 1985–86 tax year Number of cases Amount of gross profit Range of gross profits Husband's plus single people Wive's All individuals Husband's plus single people Wive's All individuals (Lower limit) (thousands) (thousands) (thousands) (£ million) (£ million) (£ million) Nil or negative 27 11 38 28 0 28 1 25 5 30 41 2 43 1,000 12 3 15 20 3 23 1,500 10 3 13 32 5 37 2,000 15 8 22 44 17 60 2,500 16 2 18 63 7 70 3,000 18 2 20 79 7 86 3,500 13 4 16 75 15 89 4,000 13 3 16 75 12 88 4,500 13 2 15 84 10 94 5,000 14 2 17 106 13 119
Table 1: Companies Accounting periods ending in the financial year to 31 March 1986 Number/Amount Number with gross trading profit for tax purposes 8,000 Gross trading profit for tax purposes £390 million All taxable income after reliefs (profits chargeable to Corporation Tax) £190 million Notes:
1. The companies included are those whose main activity is in agriculture or horticulture. Their trading profits may include profits from non-agricultural and non-horticultural activities.
2. Companies with a trading loss in 1985–86 are excluded.
Table 2: Individuals (summary) Income tax year 1985–86 Number/Amount Number of cases 324,000 Gross profit for tax purposes £2,510 million Taxable profit £1,800 million Notes to Table 2, 3 and 4:
1. The number of cases is the number of married men and single people whose "main source" (usually but not always the largest source) of earned income is from self-employment in agriculture and horticulture; plus the number of married women whose largest source of self-employment income is from agriculture and horticulture.
2. Gross profit includes balancing charges. It also includes any non agricultural/horticultural profits of individuals concerned. Taxable profit is gross profit less losses and capital allowances so far as allowed for the income tax year.
3. Individual items may not sum to total due to rounding.
4. Nil or negative includes losses.
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Number of cases Amount of gross profit Range of gross profits Husband's plus single people Wive's All individuals Husband's plus single people Wive's All individuals (Lower limit) (thousands) (thousands) (thousands) (£ million) (£ million) (£ million) 6,000 13 2 15 117 13 130 7,000 10 7 17 98 -53 151 8,000 13 3 17 185 30 215 10,000 8 3 11 111 28 139 12,000 13 2 15 217 33 250 15,000 10 2 13 241 37 278 20,000 12 4 17 474 132 606 Total 256 68 324 2,090 417 2,510
Table 4: Individuals—taxable profit, 1985–86 tax year Taxable Profit (lower limit) Husbands plus single people Wives All Individuals Number of cases Amount Number of cases Amount Amount of Cases Amount (thousands) (£ million) (thousands) (£ million) (thousands) (£ million) Nil or negative 27 -8 14 -2 40 -10 1 25 12 5 2 30 14 1,000 12 14 3 4 15 19 1,500 10 18 6 12 17 29 2,000 15 33 8 17 23 49 2,500 16 44 4 11 20 55 3,000 18 57 3 9 20 66 3,500 13 46 2 8 15 55 4,000 13 57 2 7 15 64 4,500 13 59 2 11 15 71 5,000 14 77 1 7 16 84 6,000 13 84 3 17 16 100 7,000 10 76 6 46 16 122 8,000 13 119 3 27 16 146 10,000 8 90 1 12 10 102 12,000 13 168 1 15 14 182 15,000 10 177 3 45 13 222 20,000 12 378 2 47 14 424 256 1,500 68 294 324 1,800