asked the Minister for Finance in respect of 1986 and 1987 and the estimate for 1988 of the net receipt of income tax under (a) PAYE, (b) farmers, (c) other non-PAYE, (d) building societies, (e) Deposit Interest Retention Tax and (f) tax attributable to income assessed under Case III of Schedule D and Schedule C/miscellaneous.
Written Answers. - Net Income Tax Receipts.
76.
Following is the information requested:
Net Receipt of Income Tax for 1986, 1987 and 1988 (estimated)
|
(See notes overleaf) |
1986 £m |
1987 £m |
1988 £m (Post-Budget estimate) |
|
|
PAYE |
(1) |
1,987.7 |
2,137.7 |
2,197.0 |
|
Farmers |
(2) |
35.0 |
34.5 |
42.0 |
|
Other non-PAYE |
(3) |
174.7 |
218.2 |
208.0 |
|
Building Societies |
(4) |
40.8 |
— |
— |
|
Deposit interest retention tax |
(5) |
137.1 |
296.7 |
203.0 |
|
Withholding tax on professional fees |
— |
20.1 |
45.0 |
|
|
Schedule C/miscellaneous |
(6) |
7.3 |
11.1 |
11.0 |
|
Total |
2,382.6 |
2,718.3 |
2,706.0 |
Figures of tax paid on income assessed under Case III of Schedule D are included under the appropriate headings in the table. Statistics are not available which would enable these figures to be separately identified.
Notes
(1) The figures cover more than income tax on ordinary wages and salaries. They include 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.
(2) Income tax on farming profits is collected with Schedule D tax generally and the figures shown are, to some extent, estimated. The figures shown are estimates of the tax paid by full-time farmers together with tax paid by trader-farmers on their farming profits only.
(3) This includes tax paid on income from trades and professions (other than farming) together with tax paid on other income such as rent and other investment income. The figures also include relatively small amounts of tax resulting from direct assessments under Schedule E on employees. This tax is collected with tax from the self-employed and is not separately identified. The estimate for 1988 is net of the credit to be allowed in respect of withholding tax on professional fees which was deducted at source between 6 June 1987 and 5 April 1988.
The figures also take into account tax repayments made to exempt individuals and bodies (such as charities and pension funds) in respect of tax deducted at source (such as income paid under covenants) or of tax credits attaching to company distributions.
(4) The figures shown are in respect of tax deducted by building societies under the composite rate arrangement. Basic data are not available which would enable the amounts of tax referable to building society interest paid or credited to particular classes of taxpayers to be ascertained.
(5) Basic data are not available which would enable the amounts of deposit interest retention tax referable to interest paid or credited to particular classes of taxpayers to be ascertained.
(6) The heading of "miscellaneous" includes tax payments made in respect of back duty settlements and income of Irish residents arising in the United Kingdom.