asked the Minister for Finance the numbers of individuals who were taxable under the wealth tax up to its abolition and the numbers who had taxable wealth of up to £100,000, £100,000 to £200,000, £200,000 to £500,000, £500,000 to £750,000, £750,000 to £1,000,000 and over £1,000,000.
Written Answers. - Wealth Tax.
99.
The estimated number of individuals liable to wealth tax up to its abolition referable to each valuation date was 2,200 for 5 April 1975; 2,400 for 5 April 1976 and 2,500 for 5 April 1977.
The statistics dealing with wealth tax do not provide the further information sought.
The statistics available do however provide the following information from returns of individuals which were assessed from the introduction of the tax up to 5 April 1977, relating to each of the valuation dates 5 April 1975 and 5 April 1976:
|
Ranges of taxable wealth |
Numbers of returns of individuals assessed |
|
|
Returns relating to valuation date 5 April, 1975 |
Returns relating to valuation date 5 April, 1976 |
|
|
£ |
||
|
70,000—100,000 |
226 |
63 |
|
100,000—250,000 |
1,170 |
381 |
|
250,000—500,000 |
257 |
67 |
|
over 500,000 |
60 |
19 |
The statistics relating to assessments made after 5 April 1977 and up to 5 April 1978 were taken from all returns assessed during that period irrespective of the valuation dates to which they referred. Estimated figures available from these statistics are as follows:
|
Ranges of taxable wealth |
Estimated numbers of returns of individuals assessed in the period 5 April 1977 to 5 April 1978. |
|
£ |
|
|
70,000—100,000 |
240 |
|
100,000—250,000 |
1,360 |
|
250,000—500,000 |
266 |
|
over 500,000 |
71 |
Note:
The source of statistics in the tables is assessed returns. The number of assessed returns is of necessity less than the number of taxpayers at any given time because of the emphasis in the Wealth Tax Act on the payment of tax prior to the lodgement of returns.