asked the Chancellor of the Exchequer if he will estimate (a) the number of P11D forms concerning benefits in kind which would be submitted, (b) the loss of revenue and (c) the administrative cost saving in a full financial year, if the minimum income level were raised to £9,500, £10,500, £11,500, £12,500, £13,000 and £14,500per annum, respectively.
[pursuant to his reply, 18 March 1985, c. 395]: The following table shows the effects on the number of P11D forms estimated to be required for 1985–86 if the various limits proposed by my hon. Friend were to apply:
|Level of £ threshold||Number of forms P11D with benefits (thousands)||Direct revenue cost £ million||Administrative savings‡ £ million|
|* Revised from estimate of £125 million given on 21 February at column 567.|
|‡The figures for administrative savings show the position as compared with 1984–85, and take into account the increased number of forms PI ID expected to be received with a £8,500 threshold.|