HL Deb 10 June 1993 vol 546 cc62-4WA
Lord Marlesford

asked Her Majesty's Government:

Whether they will give their best estimates of the net tax collected or the net tax repaid in respect of profits or losses made by the underwriting members of Lloyd's for each of the most recent 15 years for which figures are available.

The Minister of State, Department of Transport (The Earl of Caithness)

The available information, which has been provided by the Leeds underwriters's tax district, is shown in the attached table. The tax assessed figures show the tax charged on initial assessments made during the year to 5th April on underwriting profits and gains and include estimated assessemnts. The repayment figures show repayments made in each year to underwriters by the underwriters unit. They cover refunds of tax paid on underwriting profits made over a range of earlier years and include any repayment supplement attracted by the tax refunded.

£ million
Fiscal Year Total Tax Assessed Total Tax Repaid
1977–78 43.6 1na
1978–79 53.0 1na
1979–80 60.5 1na
1980–81 72.1 1na
1981–82 75.9 1na
1982–83 96.3 24.3
1983–84 146.9 85.6
1984–85 153.5 87.1
1985–86 182.7 62.0

Fiscal Year Total Tax Assessed Total Tax Repaid
1986–87 204.0 160.3
1987–88 152.5 155.6
1988–89 157.3 157.7
1989–90 308.9 118.2
1990–91 228.2 91.0
1991–92 101.8 126.7
1992–93 10.3 386.6
1na details not available.