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Capital Transfer Tax

Volume 885: debated on Thursday 6 February 1975

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asked the Chancellor of the Exchequer what would be the appropriate figures in columns 2, 3 and 4 of the first table in the Financial Secretary's Written Answer of 27th January to the hon. Member for St. Marylebone (Mr. Baker), assuming that the asset transferred had been held for 25 years, that, over that period, there had been a 10 per cent. per annum rate of inflation and the value of the asset had remained unchanged in real terms, and that "tax paid" in column 2 and "tax payable" in columns 3 and 4 referred to the total of capital transfer tax and capital gains tax.