§ Mr. Martyn JonesTo ask the Chancellor of the Exchequer if he will estimate the full year yield of restricting income tax reliefs and allowances to(a) £2,000, (b) £3,000, (c) £4,000, (d) £6,000, (e) £8,000, (f) £10,000 and (g) £12,000, indicating in each case the number of people affected. [14326]
§ Mr. JackThe full-year yield of restricting income tax allowances and reliefs and the number of people affected at 1996–97 income levels are given in the table. The estimates do not take account of any behavioural effects which might result from the introduction of such a limit.
Upper limit for total allowances and reliefs1 £ Yield in full year £ million Number of taxpayers Thousands 2,000 18,300 225,800 3,000 11,100 225,800 4,000 4,800 15,600 6,000 1,200 1,200 8,000 700 380 10,000 500 190 12,000 400 120 1 Including only allowances and reliefs given at marginal rates. 2 This will effect all taxpayers and bring a number of people into tax.