§ Lord Marlesfordasked 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.
63WA
64WA
£ 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.