§ Lord Marlesfordasked Her Majesty's Government:
In respect of each of the 25 member states of the European Union, what is:
and, for each member state, what is the threshold (expressed in both sterling and euros) at which the top rate applies. [HL3679]
- the top rate of inheritance tax between unconnected persons;
- the top rate of capital gains tax on (i) shares and (ii) other assets; and
- the top level of annual wealth tax;
§ The Parliamentary Under-Secretary of State, Department for Culture, Media and Sport (Lord McIntosh of Haringey):In the United Kingdom, the rate of inheritance tax is 40 per cent on the value of an estate over £263,000 (394,500 euros).
Capital gains tax on both shares and other assets is charged at an individual's marginal rate of income tax on gains over £8,200 (12,300 euros). Higher rate tax of 40 per cent starts to be paid at £36,145 (54,218 euros) of gross income. But business asset taper relief can reduce this rate to an effective rate of 10 per cent for higher rate taxpayers.
The United Kingdom has no wealth tax.
Her Majesty's Government have no responsibility for the tax systems of the other 24 member states of the European Union and it would therefore be inappropriate to provide the information sought for those countries.
§ Lord Marlesfordasked Her Majesty's Government:
In respect of each of the 25 member states of the European Union, what is the standard rate of corporation tax. [HL3681]
§ Lord McIntosh of Haringey:In the United Kingdom, the main rate of corporation tax is 30 per cent.
Her Majesty's Government have no responsibility for the tax systems of the other 24 member states of the European Union and it would therefore be inappropriate to provide the information sought for those countries.