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Investment Income

Volume 116: debated on Monday 11 May 1987

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asked the Chancellor of the Exchequer, further to the reply of 6 April 1987, Official Report, columns 77–78, concerning the investment income of females, whether he will provide the same information for all single persons and married couples split between the elderly and those of working age.

The table gives provisional estimates of investment income for single people and married couples who pay income tax in 1987–88. They are based on a projection of the 1984–85 survey of personal incomes. In practice, the survey under-estimates the full amount because it does not provide comprehensive coverage of investment income on which the liability to basic rate tax has been satisfied at source.large majority of PAYE taxpayers. Under these arrangements, the existing files were taken out of use at that date. These files are now to be disposed of in the period to 31 March 1988.