§ Sir Peter Hordern
asked the Chancellor of the Exchequer how much is raised under each schedule of income tax; how much taxpayers pay under each schedule; and if he will indicate how many taxpayers pay under more than one schedule.
§ Mr. Moore
I regret the delay in providing this answer. The table below gives an analysis by schedule of the income tax receipts expected in 1986–87. It is not possible to provide reliable estimates for a more detailed analysis.
Income Tax Receipts, 1986–87 £ million Schedules A, B, and D, net of repayments (including composite rate tax on Bank and Building Society interest) 7,000 Schedule E, net of repayments 35,700 Schedule C (tax deducted from gilts) 2,700 Additional tax on investment income taxed at source 450 Tax on company payments (debenture interest) 450 Other income tax 750 Repayments under the life assurance premium relief at source scheme -550 Repayments under the MIRAS scheme -3,950 Other repayments (mainly to tax exempt institutions) -4,050 Total 38,500
About 20,450,000 single people and married couples are expected to pay income tax in 1986–87. Estimates of those paying under certain schedules are:
Single people and Married Couples Schedule thousands A 350 B * C 850 D †7,600 E 14,100 * less than 1,000. † including those with both earned and unearned income, but excluding many basic rate taxpayers with small amounts of income under Schedule D with tax deducted at source.
I regret that it is not possible to give reliable estimates of taxpayers under other schedules, nor of those liable under more than one schedule.