asked the Minister for Finance the administrative costs of the individual capital taxes, wealth tax, capital gains tax, and capital acquisitions tax since their inception in 1975 for each of the years to date; and the revenue from each respective tax in the years listed.
Written Answers. - Tax Revenue.
478.
It is not possible to isolate the cost of collecting capital taxes from the overall cost of the administration of the inland revenue duties as a whole. For the years 1975 to 1982, the latest year for which statistics are available, the estimated cost of administering inland revenue duties is as follows:
|
Year ended 31 December |
Cost of administration of Inland Revenue duties |
Percentage of cost of net receipt |
|
£m |
||
|
1975 |
12.7 |
2.3 |
|
1976 |
16.4 |
2.1 |
|
1977 |
17.4 |
1.8 |
|
1978 |
19.8 |
1.7 |
|
1979 |
23.7 |
1.8 |
|
1980 |
33.5 |
2.0 |
|
1981 |
41.8 |
1.9 |
|
1982 |
51.2 |
1.8 |
The net receipt of capital taxes is as follows:
|
Year ended 31 December |
Wealth Tax |
Capital Gains Tax |
Capital Acquisitions Tax |
|
£ |
£ |
£ |
|
|
1975 |
3,672,411 |
40,166 |
— |
|
1976 |
6,488,613 |
430,453 |
433,513 |
|
1977 |
5,806,066 |
1,470,248 |
2,931,806 |
|
1978 |
712,037 |
3,239,437 |
4,994,777 |
|
1979 |
758,028 |
3,996,472 |
7,530,036 |
|
1980 |
797,866 |
5,985,729 |
7,992,150 |
|
1981 |
705,761 |
6,171,607 |
9,156,015 |
|
1982 |
602,188 |
8,201,285 |
11,775,539 |
|
1983 |
654,171 |
8,673,693 |
14,666,187 |