HC Deb 18 May 1916 vol 82 cc1656-7W

asked the Chancellor of the Exchequer if he can see his way to issue a table similar to that issued by his predecessor in May, 1914, showing the total percentage of unearned incomes from £150 to £100,000 pay- able under the last Budget as Income Tax, Super-tax, and premiums necessary to provide Estate Duty, taking forty as the age for the last purpose?

The following table will, I think, give my hon. Friend the calculations he desires:—

 TABLE showing the Estate Duty, Income Tax, and Super-tax, payable on certain Unearned Incomes expressed as Pence in the £ of Total Income at Bates proposed under Finance (No. 2) Bill, 1916. Income. Equivalent Estate at 5 per Cent. Rate of Estate Duty. Estate Duty Payable. Average Annual Life Insurance Premiums (starting at Age 40) Necessary to provide the Estate Duty. Equivalent Rate per £ of Total Income. Income Tax per £ of Total Income. Supertax per £ of Total Income. Total Annual Rate per £ of Total Income. £ £ Per Cent. £ £ s. d. d. d. d. 150 3,000 3 90 2 10 4.00 7.20 — 11.20 200 4,000 3 120 3 7 4.02 14.40 — 18.42 300 6,000 4 240 6 14 5.36 21.60 — 26.96 400 8,000 4 320 8 19 5.37 29.40 — 34.77 500 10,000 4 400 11 4 5.38 33.60 — 38.98 600 12,000 5 600 16 16 6.72 40.00 — 46.72 700 14,000 5 700 19 12 6.72 43.20 — 49.92 1,000 20,000 5 1,000 28 0 6.72 48.00 — 54.72 3,000 60,000 7 4,200 117 12 9.41 60.00 — 69.41 4,000 80,000 8 6,400 179 4 10.75 60.00 4.75 75.50 5,000 100,000 9 9,000 252 0 12.10 60.00 7.40 79.50 10,000 200,000 11 22,000 616 0 14.78 60.00 18.70 93.48 100,000 2,000,000 20 400,000 11,200 0 26.88 60.00 39.67 126.55