Capital Gains Tax (Hansard, 19 July 1995)

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer how many taxpayers paid capital gains tax in 1993; what was the total amount of tax collected; and if he will show for each decile of taxpayers the amount collected. [36118]

§ Mr. Jack
Available information is in terms of tax liabilities rather than tax collected. The number of capital gains taxpayers—covering individuals and trusts—with tax liabilities in 1993–94, and the tax accrual are provisionally estimated at 85,000 and around £1 billion respectively. The estimate proportions accounted for by each decile taxpayers are given in the table.

Decile group of taxpayers in terms of tax liabilities Percentage Estimated proportion of total liabilities (per cent.)

Top 10 79

Next 10 10

Next 10 5

Next 10 3

Next 10 2

Next 10 1

Next 10 1

Next 10 ¹—

Next 10 ¹—

Bottom 10 ¹—

Total 100

¹ Negligible.

§ Mr. Malcolm Bruce
To ask the Chancellor of the Exchequer what assessment he has made of the impact on United Kingdom competitiveness(a) the reduction and (b) the elimination of United Kingdom capital gains tax. [35804]

§ Mr. Jack
The Government keep the effect on competitiveness of all taxes under regular review.
1258W

Decile group of taxpayers in terms of tax liabilities Percentage	Estimated proportion of total liabilities (per cent.)
Top 10	79
Next 10	10
Next 10	5
Next 10	3
Next 10	2
Next 10	1
Next 10	1
Next 10	¹—
Next 10	¹—
Bottom 10	¹—
Total	100
¹ Negligible.