Total net capital gains tax liabilities of individuals and trusts are estimated to be:
- 1988–89 liabilities—£2,000 million
- 1990–91 liabilities—£1,150 million.
Table 12.6 of "Inland Revenue Statistics 1991", which provides an analysis of net chargeable gains on 1988–89 disposals broken down by type of asset, suggests that about a quarter of the 1988–89 liability is attributable to ordinary shares quoted on the London stock exchange. A comparable analysis of 1990–91 liabilities is not yet available.Finer analysis to isolate the amount of gains where the proceeds are reinvested is not available, but from the evidence which is available, it is thought that more of the tax liability from quoted shares will arise from disposals where the proceeds are reinvested than where the proceeds are used for other purposes.The figures quoted exclude gains made by companies included in corporation tax.