asked the Chancellor of the Exchequer whether, on the same basis as table 5.1 in the 1986 edition of the United Kingdom national accounts, he will publish in the Official Report separate figures for North sea oil companies showing tax paid on profits due abroad and tax paid on other income.
[pursuant to his reply, 30 March 1987, c. 395]: I regret that this information is not available for all taxes.Double Taxation Relief
asked the Chancellor of the Exchequer what is the effect of an increase in the rate of corportion tax on double taxation relief on the overseas earnings of company profits; and if he will publish in the Official Report a table showing the amount of double taxation relief in the latest year for which information is available, the amount of tax on which relief was given, and the change in relief consequent on a 1 per cent. increase in corporation tax.
[pursuant to his reply, 30 March 1987, c. 396–7]: An increase in the rate of corporation tax would increase the ceiling of United Kingdom tax against which double taxation relief could be claimed and would therefore, depending on the level of the overseas tax, entitle companies to a greater measure of relief.The latest year for which information is available on the amount of double taxation relief and foreign taxes paid is
| Females with investment income in 1986–87 by range of total income of female | ||||||||
| Single females | Married females | |||||||
| Gross investment income greater than or equal to £1,000 pa | Gross investment income less than £1,000 but greater than £0 pa | Gross investment income greater than or equal to £1,000 pa | Gross investment income less than £1,000 but greater than £0 pa | |||||
| Total income lower limit | Numbers | Average investment income | Numbers | Average investment income | Numbers | Average investment income | Numbers | Average investment income |
| (£pa) | ('000s) | (£pa) | ('000s) | (£pa) | ('000s) | (£pa) | ('000s) | (£pa) |
| 2,000 | 210 | 1,950 | 430 | 300 | 140 | 2,060 | 290 | 240 |
| 5,000 | 250 | 3,450 | 220 | 300 | 110 | 3,720 | 220 | 230 |
| 10,000 | 90 | 6,600 | 45 | 300 | 40 | 4,360 | 90 | 260 |
| 15,000 | 50 | 7,650 | 10 | 280 | 20 | 5,970 | 15 | 350 |
| 20,000 | 45 | 21,500 | 10 | 200 | 15 | 18,300 | 5 | 290 |
asked the Chancellor of the Exchequer whether he will publish in the Official Report his estimate of the distribution of gross unearned incomes, including tax credits, in the coming financial year by range of income in steps to £1,000 to £20,000 divided between elderly and other taxpayers and between single persons and one-earner and two-earner households.
[pursuant to his reply, 25 March 1987, c. 214]: The latest available estimates are given in the
| Distribution of investment income 1987–88 | ||||||
| Numbers | ||||||
| Taxpayers aged under 65 | Taxpayers aged over 65 | |||||
| Range of total investment income lower limit | Single people | Married couples without wife's earned income | Married couples with wife's earned income | Single people | Married couples without wife's earned income | Married couples with wife's earned income |
| (£pa) | ('000s) | ('000s) | ('000s) | ('000s) | ('000s) | ('000s) |
| 1,000 | 320 | 140 | 330 | 165 | 100 | 60 |
| 2,000 | 160 | 60 | 130 | 75 | 55 | 50 |
| 3,000 | 60 | 40 | 90 | 70 | 35 | 20 |
| 4,000 | 30 | 20 | 70 | 40 | 25 | 30 |
| 5,000 | 35 | 25 | 35 | 30 | 15 | 25 |
| 6,000 | 20 | 10 | 25 | 30 | 15 | 5 |
| 7,000 | 10 | 10 | 25 | 20 | 5 | 5 |
| 8,000 | 5 | 5 | 20 | 15 | 5 | 5 |
| 9,000 | 10 | 10 | 15 | 20 | 5 | 5 |
1983 and figures have already been provided to the hon. Member for that year in my reply of 23 March 1987, at column 43. No estimate is available of the effect of a one percentage point change in the main rate of corportion tax on the amount of relief which can be claimed.