§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer if he will estimate(a) the percentage, (b) the average amount of capital gains tax paid by people and (c) the level of income in each earned income decile. [146172]
§ Dawn Primarolo[holding answer 22 January 2001]: Following is the information requested for 1997–98, the latest available year:
Capital gains tax: individuals 1997–98 Earned income decile Lower limit of earned income level (£) Average amount of CGT for CGT payers (£) Proportion of total CGT (percentage) 1 -8,585 12,150 10.6 2 1 8,010 6.7 3 3,180 6,120 5.2 4 5,151 5,520 4.7 5 8,677 5,400 4.6 6 13,297 6,340 5.4 7 19,765 7,150 6.1 8 29,883 10,140 8.7 9 47,486 16,640 14.2 10 89,313 39,260 33.6 All 11,680 100 Notes:
1. Earned income includes employment and self-employment income and pensions.
2. For 1997–98, 140,000 individual taxpayers had total CGT liabilities of £1,637 million.
3. Components may not sum to total due to rounding.