Incomes (Hansard, 20 January 1975)

HC Deb 20 January 1975 vol 884 c232W 232W

§ Mr. William Hamilton
asked the Chancellor of the Exchequer what would be the gross annual income required to produce a net income of £100,000, £150,000, £200,000 and £300,000, respectively, assuming the recipient is single with no dependants.

§ Mr. Robert Sheldon
The figures for 1974–75 are as follows:

Income after tax Gross income

All earned All investment^*

£ £ £

100,000 553,566 4,695,312

150,000 847,684 7,195,312

200,000 1,141,802 9,695,312

300,000 1,730,037 14,695,312

^* Investment income surcharge has been calculated on the basis of an exemption limit of £1,000 with the first £1,000 of the excess at 10 per cent., and the balance at 15 per cent.

Income after tax	Gross income
All earned	All investment^*
£	£	£
100,000	553,566	4,695,312
150,000	847,684	7,195,312
200,000	1,141,802	9,695,312
300,000	1,730,037	14,695,312
^* Investment income surcharge has been calculated on the basis of an exemption limit of £1,000 with the first £1,000 of the excess at 10 per cent., and the balance at 15 per cent.