HC Deb 30 July 1980 vol 989 cc709-10W
Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether he will give details of the gross taxed worth of a £30,000 per annum tax-free grant on a three-year basis for a person who terminates his employment, if during this period his gross income was on a basis of £68,000 per annum, allowing for the normal tax reliefs for a man with a married allowance.

Mr. Peter Rees

If it is assumed that a married man's gross income from employment in the final year of employment is £68,000 and that emoluments amounting to £30,000 free of tax were received in the same year, the gross amount, which if taxed would be equivalent to £30,000 after tax, is £75,000 at 1980–81 allowances and rates of tax. The gross amount which would be equivalent to £30,000 after tax in subsequent years would depend on the rates and allowances in force for those years and on the amount of any additional income.