§ Mr. Geoffrey Finsbergasked the Chancellor of the Exchequer if he will
Value of tax reliefs at highest marginal rate Additional tax on medical insurance at highest marginal rate Tax on car benefit at highest marginal rate Income (a) (b) £ £ £ £ Single person: £7,500 … … … 105.00 50.00 240.00 331.25 £10,000 … … … 161.00 60.00 288.00 397.25 £15,000 … … … 167.00 70.00 336.00 463.25 Married couple: £7,500 … … … 135.75 45.75 240.00 330.00 £10,000 … … … 203.00 60.00 288.00 296.00 £15,000 … … … 216.00 70.00 336.00 462.00 Married couple with two children not over 11: £7,500 … … … 168.35 45.00 216.00 303.35 £10,000 … … … 268.35 55.00 286.35 394.35 £15,000 … … … 300.00 70.00 336.00 462.00 Tax on the cash equivalent of the car benefit for a car of (a) 2,500 cc and (b) 3,500 cc has been calculated at 1976–77
86Woverseas loans raised during March and April 1976:
publish in the Official Report a table showing for a single man, a husband and wife with no children and a married couple with two children, respectively. with an income of £7,500, £10,000 and £15,000 per annum, respectively, the maximum increase in income he can expect as a result of the additional tax relief proposed and the amounts of extra tax he will have to pay, assuming a private medical insurance of £100 per annum paid by his employer and the provison of a 2,500 cc car and 3,500 cc car, respectively, by his employer.
§ Mr. Robert SheldonThe figures are as follows:
tax rates and allowances, although the new legislation does not take effect until next year, and the scales will not be 87W brought fully into force until 1978–79. The figures given are the total tax payable in respect of the car benefit, not the extra tax, as the amount of tax presently paid is variable.