| Previous Section | Home Page |
NATIONAL FINANCE
Textile Firms, Leicester
Mr. Allen : To ask the Chancellor of the Exchequer if he will make it his policy to make available to hon. Members the report of the revenue special investigation team into tax evasion by textile firms in Leicester.
Mr. Norman Lamont : Details of Inland Revenue investigations are not published.
Composite Rate Tax
Mr. Riddick : To ask the Chancellor of the Exchequer how many people pay composite rate tax on investment income (a) in total, (b) who have a tax liability and (c) who do not have a tax liability.
Mr. Norman Lamont : I regret that information is not available in the form requested. There were some 64 million accounts subject to composite rate and which earned over £1 interest in 1986-87, some of which were held by clubs or other non-individuals. Of these accounts, it is provisionally estimated that 49 million were held by investors whose composite rate interest would be wholly liable to tax in the absence of a composite rate system, and 13 million by investors none of whose composite rate interest would be liable. The balance of about 2 million accounts was held by investors, part of whose interest would be liable to tax if there were no composite rate system.
Column 77
Mortgage Tax Relief
Mr. Sillars : To ask the Chancellor of the Exchequer if he will publish a table showing the total value of mortgage tax relief by planning region in each of the past 10 years.
Column 78
Mr. Norman Lamont : Estimates for the years 1979-80 to 1982-83 have been derived from the results of the survey of personal incomes and are given in the table.
Column 77
|c|Cost of mortgage interest relief (£ million)|c|
|1979-80|1980-81|1981-82|1982-83
-----------------------------------------------------------------
Northern |60 |80 |70 |95
Yorkshire and Humberside |110 |155 |150 |160
North West |135 |200 |180 |215
East Midlands |85 |115 |110 |130
West Midlands |145 |160 |190 |170
East Anglia |45 |50 |60 |75
Greater London |235 |280 |290 |260
Other South East |375 |555 |600 |650
South West |110 |140 |170 |140
Wales |45 |65 |80 |80
Scotland |85 |125 |120 |140
Northern Ireland |20 |35 |30 |30
|--- |--- |--- |---
United Kingdom |1,450 |1,960 |2,050 |2,150
Following the introduction of MIRAS in April 1983, regional information on the cost of mortgage interest relief cannot be extracted from Inland Revenue records. The regional distribution of mortgage interest can be estimated from the family expenditure survey (FES) but, as the sample size for the FES is relatively small, it is not possible to provide robust estimates of regional trends for the period after 1982-83. Accordingly, the following tables show the cost of mortgage interest relief in the United Kingdom from 1983-84 to 1988-89 with the percentage distribution of the relief by region, based on FES data from 1984 to 1986.