Skip to main content

Income Tax

Volume 163: debated on Thursday 3 May 1923

The text on this page has been created from Hansard archive content, it may contain typographical errors.

75.

asked the Chancellor of the Exchequer what was the estimated number of persons with incomes of above £5,000 a year during the financial year ended 31st March last; and what was the estimated total income of these persons?

Statistics for the year 1922–23 will not be available for some months. For the year 1921–22 it is estimated that there were 28,800 persons with incomes exceeding £5,000 with an estimated total income of £367,000,000.

76.

asked the Chancellor of the Exchequer if he will give estimated figures for the financial year ended 31st March last showing the gross income brought under review for Income Tax and Super-tax, the estimated income liable to tax before deduction of personal allowances, etc., and the estimated total net income on which Income Tax was paid?

Final estimates of the income dealt with for Income Tax purposes will not be available for some considerable time, but the following provisional estimates have been made:

Great Britain and Northern Ireland.
£
Gross income2,900,000,000
Actual income liable to tax before deduction of personal or family allowances and reliefs2,250,000,000
Total taxable income on which tax was paid1,250,000,000
The total income assessable to Super-tax for the same year is provisionally estimated at £470,000,000.