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Dividend Tax Credits

Volume 328: debated on Wednesday 31 March 1999

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To ask the Chancellor of the Exchequer if he will provide a breakdown of the average amoun of tax credits reclaimed on dividends in 1995–96 and 1996–97 by each decile for (a) non-taxpayers aged over 65 years and (b) all non-tax paying individuals. [67471]

[holding answer 25 January 1999]: Latest available estimates for 1995–96 and 1996–97, derived from the Survey of Personal Incomes, are given in the table.

£
DecileAmount of dividend tax credit claimed
Non taxpayers aged 65 or over—1995–96
Lowest2
2nd5
3rd10
4th15
5th25
6th45
7th65
8th95
9th145
Highest290
Non taxpayers aged 65 or over—1996–97
Lowest3
2nd7
3rd15
4th20
5th35
6th55
7th80
8th130
9th220
Highest480
All non-taxpayers—1995–96
Lowest2
2nd5
3rd10
4th15
5th25
6th45
7th65
8th95
9th145
Highest320
All non-taxpayers—1996–97
Lowest3
2nd7
3rd15
4th20
5th35
6th55
7th80
8th125
9th210
Highest480

To ask the Chancellor of the Exchequer (1) if he will provide a breakdown of the number of (a) non-taxpayers aged over 65 years and (b) all non-taxpaying persons reclaiming tax credits on dividends in 1996–97 in the categories (i) under £20, (ii) £21 to £50, (iii) £51 to £100, (iv) £101 to £200 and (v) over £200 reclaimed; [67636](2) what estimate he has made of the average value of shares held by

(a) non-taxpayers aged over 65 years and (b) all non-taxpaying individuals reclaiming tax credits in 1995–96 and 1996–97 in the categories (i) under £20, (ii) £21 to £50, (iii) £51 to £100, (iv) £100 to £200 and (v) over £200 reclaimed. [67473]

[holding answer 25 January 1999]: Estimates of the numbers of people claiming payments of dividend tax credits, derived from the 1996–97 Survey of Personal Incomes, are given in the table, but share holdings or values are not known, so it is not possible to estimate the average value of shares held by these people.

1996–97
Amount of dividends tax credit claimed (£)Number of non-taxpayers aged 65 and over with claims (Thousand)Number of non-taxpayers with claims (Thousand)
under 20105225
21–5065130
51–10055110
101–2005095
201 and over60105
Total335660

To ask the Chancellor of the Exchequer what is the (a) average and (b) medium amount in sterling of tax credits on dividends reclaimed in 1995–96 and 1996–97. [67472]

[holding answer 25 January 1999]: Latest available estimates for 1995–96 and 1996–97 are given in the table.

£
YearAverage amount of divided tax credit claimedMedian amount of divided tax credit claimed
1995–967535
1996–9710540