Income Tax (Hansard, 15 October 2002)

HC Deb 15 October 2002 vol 390 cc609-10W 609W

§ Matthew Taylor
To ask the Chancellor of the Exchequer what estimate he has made of the full year yield of a 50 per cent. tax rate on(a) gross incomes and (b) taxable incomes of more than £100,000 a year for financial years, (i) 2002–03 and (ii) 2003–04; and if he will make a statement. [74132]

§ Dawn Primarolo
The full-year effects of making the changes are set out in the table.
610W

Income tax yield in 2002–03 (£ billion) Income tax yield in 2003–04 (£ billion)

(a) 50 per cent. rate for gross incomes over £100,000 4.0 4.5

(b) 50 per cent. rate for taxable incomes over £100,000 3.9 4.3

The estimates are based on the Survey of Personal Incomes and are consistent with the April 2002 Budget. These estimates exclude any behavioural response to the tax change.

	Income tax yield in 2002–03 (£ billion)	Income tax yield in 2003–04 (£ billion)
(a) 50 per cent. rate for gross incomes over £100,000	4.0	4.5
(b) 50 per cent. rate for taxable incomes over £100,000	3.9	4.3