Estimated receipts from abolished duties
The Minister estimated estate, legacy and succession duties would have yielded £21 million in 1976, rising to £55 million in 1981, with about 10 per cent from legacy and succession duties. Asked how this compared with replacement taxes, he said that was a separate question and offered to provide the information on another occasion.
asked the Minister for Finance the estimated amount of estate, legacy and succession duties which would have been payable since the abolition of duties had such duties not been abolished.
Comment on this
It is estimated that estate, legacy and succession duties would have yielded the following amounts in the years from 1976 to 1981, inclusive, if they had not been abolished in 1975 and had continued unchanged since then: 1976, £21 million; 1977, £26 million; 1978, £34 million; 1979, £44 million; 1980, £50 million; 1981, £55 million.
Of these receipts, only about 10 per cent would have been referable to legacy and succession duties.
Comment on this
Will the Minister indicate how those estimated amounts compare with actual receipts from the taxes that replaced them, namely, the capital acquisitions tax, the gifts tax and so on?
Comment on this
The Deputy will know from his experience of answering questions that that is an entirely separate question. If the Deputy wants the information he should put down a question.
Comment on this
The Minister is happy it is not in his brief.