Skip to main content

Income Tax: Tax Rates and Bands

Volume 481: debated on Thursday 23 October 2008

To ask the Chancellor of the Exchequer what estimate he has made of the annual revenue which would be forgone by raising the higher rate of income tax threshold to (a) £45,000 and (b) £50,000. (229739)

The threshold above which the higher rate of income tax applies depends on the level of the personal allowance and the basic rate limit, either of which could be varied to give the thresholds requested for a taxpayer aged under 65.

Table 1 of the Generic Tax Tables 2008-09: “Additional full-year yield/cost from increasing the Basic Rate Limit (BRL) and higher rates of tax in 2008-09” provides information on the cost of a range of increases to the BRL, and is available in the Library of the House. The table excludes any estimates of behavioural response.

To ask the Chancellor of the Exchequer how many people were paying the higher rate of income tax in (a) 1997 and (b) on the latest date for which figures are available. (229763)

Information on the number of higher rate taxpayers for the period 1990-91 to 2008-09 can be found in Table 2.1 “Number of individual income taxpayers” on the HM Revenue and Customs website at:

http://www.hmrc.gov.uk/stats/income_tax/menu.htm