HC Deb 11 May 1981 vol 4 cc191-2W
Mr. William Hamilton

asked the Chancellor of the Exchequer what would be the amount of tax payable on an unearned income of a single person, under 65 years, without dependants, where the annual income was £200,000, £300,000, £400,000 and £500,000 respectively.

Mr. Peter Rees

[pursuant to his reply, 6 May 1981,c. 60]The figures for 1981–82 on the basis of the Budget proposals, are as follows:

Net earnings Net earnings as a proportion of gross earnings Net earnings per head
£ per cent. £
Single person 76.41 69.5 76.41
Married without children 80.85 73.5 40.42
Married with one child 80.85 73.5 26.95
Married with two children 80.85 73.5 20.21
Married with three children 80.85 73.5 16.17
Married with four children 80.85 73.5 13.47
Married with five children 80.85 73.5 11.55

Tax and national insurance contributions—calculated at the not contractedout rate—do not depend on the number

Unearned Income Tax payable
£ £
200,000 143,225
300,000 218,225
400,000 293,225
500,000 368,225

It is assumed there are no reliefs other than the personal allowance.