Value Added Tax (Hansard, 10 December 1973)

§ Mr. Kinsey
asked the Chancellor of the Exchequer if he will remove VAT

Annual take-home pay

Annual Income 1969–70 1970–71 1971–72 1972–73 1973–74

All earned

£1,000. … … … … 856.74 863.00 897.82 928.74 928.10

£2,000 … … … … 1,527.89 1,524.09 1,561.30 1,602.31 1,599.42

£5,000. … … … … 3,531,24 3,527.68 3,639.39 3,667.60 3,681.77

£8,000. … … … … 5,063.25 5,064.20 5,341.15 5,369.36 5,590.06

£10,000. … … … … 5,909.87 5,912.81 6,259.87 6,288.08 6,557.56

£20,000. … … … … 7,592.37 7598.81 9,619.10 9,647.31 10,083.81

All investment

£1,000. … … … … 785.86 790.37 825.07 868.97 924.38

£2,000. … … … … 1,373.36 1,377.87 1,437.57 1,481.47 1,644.84

£5,000. … … … … 2,693.92 2,702.93 2,855.63 2,899.52 3,294.84

£8,000. … … … … 3,562.78 3,573.79 3,809.49 3,853.38 4,753.13

£10,000. … … … … 4,003.46 4,015.47 4,305.17 4,349.06 5,420.63

£20,000. … … … … 5,193.20 5,207.71 5,755.45 5,799.34 7,446.88

Notes:
It has been assumed that those with incomes of £1,000 and £2,000 per year are not contracted out of the Graduated Pension Scheme; that those with £5,000 and above are contracted out: and that those whose income is entirely from investment are paying Class III (non-employed person) National Insurance contributions.
The figures of take-home pay do not include family allowances (£46.80 for all years), but tax on the family allowance and "clawback" have been taken into account where appropriate.
Where it is to the taxpayer's advantage to forgo family allowance, tax has been calculated on that basis.
46W
charged on the returnable deposit on glass bottles and crates thereby making it easier for the various trades to overcome their present shortages of such containers.

§ Mr. Higgins
No. In effect, VAT is charged only on returnable bottles and containers which are not returned.

§ Mr. Edward Lyons
asked the Chancellor of the Exchequer if he will exempt from value added tax Christmas gifts sent from abroad to persons in the United Kingdom.

§ Mr. Higgins
No. I refer the hon. Member to my replies to the hon. Member for Newport (Mr. Roy Hughes) on 25th October 1973.—[Vol. 861, c. 561–2.]

					Annual take-home pay
Annual Income	1969–70	1970–71	1971–72	1972–73	1973–74
All earned
£1,000.	…	…	…	…	856.74	863.00	897.82	928.74	928.10
£2,000	…	…	…	…	1,527.89	1,524.09	1,561.30	1,602.31	1,599.42
£5,000.	…	…	…	…	3,531,24	3,527.68	3,639.39	3,667.60	3,681.77
£8,000.	…	…	…	…	5,063.25	5,064.20	5,341.15	5,369.36	5,590.06
£10,000.	…	…	…	…	5,909.87	5,912.81	6,259.87	6,288.08	6,557.56
£20,000.	…	…	…	…	7,592.37	7598.81	9,619.10	9,647.31	10,083.81
All investment
£1,000.	…	…	…	…	785.86	790.37	825.07	868.97	924.38
£2,000.	…	…	…	…	1,373.36	1,377.87	1,437.57	1,481.47	1,644.84
£5,000.	…	…	…	…	2,693.92	2,702.93	2,855.63	2,899.52	3,294.84
£8,000.	…	…	…	…	3,562.78	3,573.79	3,809.49	3,853.38	4,753.13
£10,000.	…	…	…	…	4,003.46	4,015.47	4,305.17	4,349.06	5,420.63
£20,000.	…	…	…	…	5,193.20	5,207.71	5,755.45	5,799.34	7,446.88