INCOME TAX: YIELD OF HIGHER RATES (Hansard, 7 February 1978)

HL Deb 07 February 1978 vol 388 c1025WA 1025WA

§ Lord BOYD-CARPENTER
asked Her Majesty's Government:
What to the latest current date is the annual yield to the Revenue of that portion of the receipts of income tax which results from the excess over 50 per cent. of rates of taxation imposed on the relevant parts of the income of individuals.

§ Baroness BIRK
An exact estimate cannot be made from the information directly available, but the yield is in the range of £520–670 million at 1977–78 income levels. This includes any element of the investment income surcharge which at present raises the marginal rate of tax of an individual above 50 per cent.