HC Deb 23 January 2003 vol 398 c430W
Matthew Taylor

To ask the Chancellor of the Exchequer what estimate he has made of the revenue yield of a 49 per cent. income tax rate on(a) taxable income and (b) gross incomes exceeding £100,000 per annum; if he will estimate in each case the (i) income tax and (ii) capital gains tax yield; and if he will make a statement. [92775]

Dawn Primarolo

The full-year yield in 2003–04 of making the changes are set out in the table.

The full-year yield in 2003–04
(i) Income Tax yield £billion (ii) Capital Gains Tax yield £million
(a) 49 per cent. rate for taxable incomes
over £100,000 4.5 100
(b) 49 per cent. rate for gross incomes
over £100,000 4.6 100

The Income Tax estimates are based on the Survey of Personal Incomes and are consistent with the November 2002 Pre-Budget Report. These estimates exclude any behavioural response to the tax change.

Capital Gains Tax estimates take into account the likely effect on yield of changes in the volume of disposals in a full year caused by taxpayers' behaviour.

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