asked the Minister for Finance the anticipated yield for 1988 from (a) VAT, (b) PAYE tax and (c) other income tax.
Written Answers. - Tax Yield.
89.
Figures of the post-budget estimates for value-added tax and income tax receipts in 1988 are contained in Table 3, page 30, of the "Principal Features" of the 1988 budget. Following is a breakdown of the income tax estimate as requested:
|
1988 Post-BudgetEstimate |
|
|
£ million |
|
|
PAYE |
2,197 |
|
Other income tax |
509 |
|
Total |
2,706 |
Note: Income tax collected through the PAYE mechanism covers more than income tax on ordinary wages and salaries. It includes tax paid by directors of close companies who are akin to the self-employed as well as tax on “other income” of employees such as rent and other investment income.