Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 2 December 1958.
asked the Chancellor of the Exchequer his estimate of the aggregate gross annual value and net annual value for the purposes of Income Tax. Schedule A, of owner-occupied residential accommodation at the latest convenient date; and his estimate as to the aggregate gross annual value and net annual value if they were valued at present-day values instead of at 1936–37 values.
The Chancellor of the Exchequer (Mr. Derick Heathcoat Amory):
The Answer to the first part of the Question is £175 million and £135 million respectively in 1958–59. I regret that sufficient information is not available on which to base the estimates asked for in the second part.
Will my right hon. Friend accept that there would be a substantial increase in valuations, which would result in substantially higher taxes being paid by residential owner-occupiers?
asked the Chancellor of the Exchequer his estimate of the aggregate reductions in Income Tax liability as a result of claims for maintenance of domestic properties by owner-occupiers in the year 1948–49 and for each subsequent year, and the proportion of owner-occupiers who made no claim in respect of each year.
Mr. Amory:
It is estimated that maintenance claims by owner-occupiers of houses resulted in reduction of Income Tax of about £4 million in 1953–54, and about £6 million in 1957–58. It is also estimated that over 90 per cent. of all owner-occupiers make no claim in any particular year. Insufficient data exist for estimates to be given for every year.
Can my right hon. Friend say whether there is any increase in the proportion of owner-occupiers who are submitting claims, or whether there is, in fact, a decrease?