§ Sir Michael GryllsTo ask the Chancellor of the Exchequer what have been both the revenue produced by capital gains tax and the cost of raising that tax in each of the last three years for which figures are available.
§ Mr. NelsonThe most recent published figures of capital gains tax yield and the cost of administration for years up to 1990–91 are set out in the table.
£Million 1987–88 1988–89 11989–90 11990–91 Cost of administration2 25.1 26.6 34.3 39.0 Yield 1,379.0 2,323.0 1,854.0 1,852.0 1 Manpower usage and costs of administration for 198–0 have been adjusted to reflect a new basis of costing. Direct comparison of these and later figures with those of earlier years may be misleading. More detail regarding this adjustment is given in the board's report for the year ending 31 March 1991. 2 Costs are based on total departmental expenditure. Notes:
Capital gains tax receipts in 1991–92 are provisionally estimated at £1,140 million.
The receipts figures quoted exclude tax on gains made by companies included in corporation tax.