asked the Minister for Finance the tax revenue for each year 1975 to 1981, inclusive, and the estimated revenue for 1982; and if he will tabulate for each year 1975 to 1982, inclusive, the figures for estate duty, capital acquisitions tax, capital gains tax and wealth tax as a percentage of total revenue.
Written Answers. - Tax Revenue.
739.
Following is the information requested:—
|
Year ended |
Total tax revenue |
|
(1) |
(2) |
|
£ million |
|
|
31 December 1975 |
926.7 |
|
31 December 1976 |
1265.6 |
|
31 December 1977 |
1481.7 |
|
31 December 1978 |
1727.8 |
|
31 December 1979 |
2008.5 |
|
31 December 1980 |
2619.7 |
|
31 December 1981 |
3314.5 |
|
31 December 1982 |
4387.3 (i) |
|
Head of Revenue |
Year ended |
Head of Revenue as a percentage of total revenue |
|
|
(1) |
(2) |
(3) |
|
|
Estate duty |
31 December 1975 |
1.45 |
(ii) |
|
Estate duty |
31 December 1976 |
0.69 |
(ii) |
|
Estate duty |
31 December 1977 |
0.45 |
(ii) |
|
Estate duty |
31 December 1978 |
0.34 |
(ii) |
|
Estate duty |
31 December 1979 |
0.17 |
(ii) |
|
Estate duty |
31 December 1980 |
0.12 |
(ii) |
|
Estate duty |
31 December 1981 |
0.07 |
(ii) |
|
Estate duty |
31 December 1982 |
0.02(i) |
(ii) |
|
Capital acquisitions tax |
31 December 1975 |
Nil |
(iii) |
|
Capital acquisitions tax |
31 December 1976 |
0.03 |
|
|
Capital acquisitions tax |
31 December 1977 |
0.19 |
|
|
Capital acquisitions tax |
31 December 1978 |
0.28 |
|
|
Capital acquisitions tax |
31 December 1979 |
0.38 |
|
|
Capital acquisitions tax |
31 December 1980 |
0.31 |
|
|
Capital acquisitions tax |
31 December 1981 |
0.28 |
|
|
Capital acquisitions tax |
31 December 1982 |
0.23(i) |
|
|
Capital gains tax |
31 December 1975 |
0.004 |
|
|
Capital gains tax |
31 December 1976 |
0.03 |
|
|
Capital gains tax |
31 December 1977 |
0.10 |
|
|
Capital gains tax |
31 December 1978 |
0.18 |
|
|
Capital gains tax |
31 December 1979 |
0.20 |
|
|
Capital gains tax |
31 December 1980 |
0.23 |
|
|
Capital gains tax |
31 December 1981 |
0.19 |
|
|
Capital gains tax |
31 December 1982 |
0.18(i) |
|
|
Wealth tax |
31 December 1975 |
0.39 |
(iv) |
|
Wealth tax |
31 December 1976 |
0.51 |
(iv) |
|
Wealth tax |
31 December 1977 |
0.39 |
(iv) |
|
Wealth tax |
31 December 1978 |
0.04 |
(iv) |
|
Wealth tax |
31 December 1979 |
0.04 |
(iv) |
|
Wealth tax |
31 December 1980 |
0.03 |
(iv) |
|
Wealth tax |
31 December 1981 |
0.02 |
(iv) |
|
Wealth tax |
31 December 1982 |
0.007 (i) |
(iv) |
Notes
(i) Post-Budget estimate (25/3/82).
(ii) Estate duty was abolished by the Finance Act, 1975 as regards deaths occurring on or after 1 April 1975.
(iii) The Capital Acquisitions Tax Act, 1976 became law on 31 March 1976 and there was therefore no yield in 1975.
(iv) From the introduction of wealth tax until its abolition three valuation dates occurred namely, 5 April 1975, 5 April 1976 and 5 April 1977.