§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer if he will estimate in total how much the Inland Revenue received from building societies in 1985–86 and 1986–87; and how much will not be repaid as a consequence of clause 50 of the Finance Bill being approved by the House.
§ Mr. MaplesReceipts of income tax and corporation tax from building societies were £3,025 million in 1985–86 and £3,067 million in 1986–87. An estimated £130 million of 1986–87 receipts would be repaid if clause 50 was not approved; receipts of about £20 million in later years would also be repaid, together with accumulated interest amounting to about £100 million at the beginning of this financial year.
§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer how many building societies, on or after 25 October 1990, asked for return of the tax which was in dispute; and how many received a written acknowledgement before the Budget speech in 1991.
§ Mr. MaplesIt would not be appropriate to provide information about the tax affairs of individual taxpayers.
§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer what Treasury or Inland Revenue estimates of extra or accelerated payment of tax by building societies from(a) the changed tax arrangements and (b) the transitional arrangements were published in (i) 1985 and (ii) 1986.
§ Mr. MaplesThe 1985–86 "Financial Statement and Budget Report" showed the effect of the building society measures on Exchequer revenue in 1985–86 to be nil and estimated the effect on tax liabilities for the first full year to be a reduction of £20 million in societies' liability to corporation tax.
§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer if he will place in the Library a complete collection of Treasury press notices, ministerial speeches and pronouncements, and debates on the Floor of the House and in Committee on the change in taxation payments by building societies.
§ Mr. MaplesI have placed a collection of this information in the Library.