BIG INCOMES IN BRITAIN

Cromwell Argus, Volume L, Issue 2644, 13 October 1919, Page 3

BIG INCOMES IN BRITAIN

SOME OVER £IOO,OOO A YEAR. Tliere are iu Britain 148 persons whose incomes exceed £IOO,OOO a year. Tins and oilier interesting facts aliont the division of the national income appear in a White Paper issued by the 'lnland Revenue." The total income of the "big 148" is £27,600,000, from which, it is estimated, approximately £15,352.000, or nearly half, will be cast into the Treasury in Income Tax and Super Tax. Of 5,346.000 persons affected by the Income Tax regulations 1,340,000 are euliiclr relieved from tax by the operation of abatements and allowances. The remaining 3,406,000 will pay £272,816,000, or over £KO a head. The following table shows the number of incomes of £SOO and upwards : from To £. £. Total. 500 600 92,000 600 700 ... .58,000 700 300 ; 43,300 800 900 41,700 900 1,000 - 35.400 1.000 1.500 91,800 1.500 2,000 ■ 11,800 2.000 2,500 28.300 2.500 5,000 ... ... 36'.535 5.000 10.000 13,974 10.000 15,000 4,023 15.000 20,000 1 713 20.000 25,000 900 25.000 30,000 550 30.000 40,000 566 40.000 50,000 257 50.000 75.000 270 75.000 100,000 122 TOO,OOO iexceeding) 148 The total taxable income is estimated at £1.970,000,000. producing an aggregate income from Income Tax and Super Tax of £358,300,000. Of ibis sum £109,424,000 comes from taxpayers with incomes of Ici-a than £2.500 a year, while £163,393.000 is derived from the larger incomes. Other income.'. which principally eon-ist of moneys held by various companies, bring in a total of £65,484,000. The net produce of the Income Tax. apart from the Super Tax, is £296,000.000.