§ Mr. LoughtonTo ask the Chancellor of the Exchequer what was the total amount of revenue raised from(a) capital 337W gains tax and (b) inheritance tax in each of the last 10 financial years; and what has been the estimated cost to the Inland Revenue of collecting it. [21329]
§ Dawn Primarolo[holding answer 17 December 1997]: Following is the information requested:
£ Million Capital gains tax Inheritance tax Net receipts1 Cost of collection2,3 Net receipts4 Cost of collection3,5 1987–88 1,379 25.1 1,078 25.7 1988–89 2,323 26.6 1,071 23.2 1989–90 1,854 34.3 1,232 25.1 1990–91 1,852 39.0 1,262 28.0 1991–92 1,140 43.3 1,299 26.9 1992–93 982 38.4 1,211 26.2 1993–94 710 41.9 1,333 25.3 1994–95 926 33.5 1,411 36.4 1995–96 796 32.6 1,518 37.9 1996–97 1,131 30.3 1,558 31.9 1 Excludes tax on gains of companies which are charged to corporation tax. 2 Relates mainly to the costs arising from gains to individuals and trustees, but some other costs (mainly of land valuations for companies) cannot be separately identified and are included in the collection costs of capital gains tax. 3 The basis for compiling collection costs changed from 1989–90. Direct comparison of these and later figures with those of earlier years may be misleading. 4 Includes capital transfer tax and estate duty. 5 Includes the cost of work done by the Shares Valuation Division of the Capital Taxes Office for other Inland Revenue purposes.