Married Couples (Taxation) (Hansard, 19 May 1971)

§ Mr. Roper

asked the Chancellor of the Exchequer (1) what would be the income tax and surtax charged to a married couple with two children not over 11 years of age in 1970–71 and 1971–72, and what would be the effective rate in those years, with an income of £20,000, £15,000 earned and £5,000 unearned; and what

	£	£	£	£
1. Income Total	20,000	15,000	15,000	12,000
(a) Earned	15,000	12,000	10,000	10,000
(b) Investment	5,000	3,000	5,000	2,000
2. Income tax and Surtax for 1970–71
(a) Amount	12,326.43	7,907.93	7,907.93	5,491.43
(b) Effective rate	61.6%	52.7%	52.7%	45.8%
3. Income tax and Surtax for 1971–72
(a) Amount	10,933.60	7,085.92	7,329.67	5,016.09
(b) Effective rate	54.7%	47.2%	48.9%	41.8%
4. Reduction in surtax on the investment income treated as the top slice as a result of the proposed increase in earned income relief	494.62	229.18	101.68	77.75

320W

would be the reduction in surtax payable on the unearned income as a result of the top slice being subject to a lower rate of tax following the increase in earned income allowances;

(2) what would be the income tax and surtax charged to a married couple with two children not over 11 years of age in 1970–71 and 1971–72, and what would be the effective rate in those years, with an income of £15,000, £12,000 earned and £3,000 unearned; and what would be the reduction in surtax payable on the unearned income as a result of the top slice being subject to a lower rate of tax following the increase in earned income allowances;

(3) What would be the income tax and surtax charged to a married couple with two children not over 11 years of age in 1970–71 and 1971–72, and what would be the effective rate in those years, with an income of £15,000, £10,000 earned and £5,000 unearned; and what would be the reduction in surtax payable on the unearned income as a result of the top slice being subject to a lower rate of tax following the increase in earned income allowances;

(4) what would be the income tax and surtax charged to a married couple with two children not over 11 years of age in 1970–71 and 1971–72, and what would be the effective rate in those years, with an income of £12,000, £10,000 earned and £2,000 unearned; and what would be the reduction in surtax payable on the unearned income as a result of the top slice being subject to a lower rate of tax following the increase in earned income allowances.