BRITAIN'S RICHEST MEN

New Zealand Herald, Volume XLIII, Issue 13235, 21 July 1906, Page 5 (Supplement)

BRITAIN'S RICHEST MEN

INCOME TAX REVEALS 19 MILLION-

AIRES.

WEALTHY COMPANIES. Although the population of the United Kingdom is: well over 40,000,000, there are only 471,526 persons who, owing -, to their possession lof an; annual. income of more than £150 a year,rpay- then- own income tax. ..'.' " '

There are, of course, otnexs who indirectly contribute towards the income tax owing to their interest in companies and _ industrial firms which are taxed, but it is well within probability that the total number of contributors to the income tax. receipts, directly and indirectly," is under 1,000,000, or one-fortieth of the entire population. The total income of the 471,626' persons who pay the tax directly was in .1903-4, according to . a return : issued recently, £128,290,267. At least 19 of those who shared in this gross income must be millionaires. ; This fortunate 19 each possessed an income of at least £50,000, which capitalised at 20 years' purchase means £1,000,000. But "several of the 19 must have much more than, the million, for between ■them they -paid the tax on a total income of £1,968,442, or an"-''average of over £100,000 a year each." £90,000 CHEQUE. Tho tax in 1903-4 was lid in the pound, so that these 19' millionaires alone contributed over £90,000 to the national revenue. ■' Each of the 19, it is interesting to note, lives in Great Britain. Ireland, so far as the income tax returns go,' cannot boast of possessing a millionaire. .The number Of persons in Great tain with i the S less substantial incomes■"■ of between £500 and £50,000 will be' seen; from the following (table: — ' ■■ Gross '■--■■ :■■"■.■'.■..'-.S'.:■.-■ ■.•■Not.-- Num.- Amount of Exceeding . ■■■.' Exceeding, ber. : Assessment. £, £ £ ■■ m ... ... ; 600 8,562. 4,866,537 -:. 600 ■■'■ :■'."'.'■.„-.' -'•:'..; [-a 70O.:vK'.■■' 4,788 ■■'■:■.■.<■ 3.200,131 ■,700 ! : ; ■-'-■ ... ... 800 -' v'-,' 4,019 :■ ' 3,076,501 :\800'". : ..... ... •* 900 ■;.'■■'■ '2,045 ' ,•. 1,762,776 .900 ;.'■'-.■',■':'... .1,000-2,600 2,546,760 1,000 ;...: ... '2,000 : --.'■;' 6,044 : 8,571,640 2.000 : ; ... ;-■'.... .3.000.;•;.. 1,401 ,; 3,491,572 3,000 : . ... ... '4.003 ' : > 551 . - .1,944,989 4,000 v.- ... ... 5,000 '"... 250 : 1.342,856 5,000 ... ... 10,030 . 433 • 3,028,829 10,000 ~...... 50,000 ;; ~ 219;.. 4,122,532 ' Income tax -payers forming .the largest group are those. with incomes of between £160 and £200, who number 140,154. ; ! The total figares of assessment under schedule D for Great' Britain are as 'follows : — ■■ Gross Am't :<~; ;•-■'.' No. of of In'c'm's ; J: ■ Assessments. ; Assessed. '■"-■-'' ■■'■■" ■■■ • ' ' '-... -"" £. ■■■••: Persons ... ...*... 451.323 123,592,622 Firms i.... ... ... 56,865 ;' 87,225,616 Public companies ... 29,162 238,984,107 Local authorities assessed for profits or . .'. interest ■. ... ... 9,548 ~ 16,865,301 There were 113 firms and, 794 public companies with incomes over £50,000 : a year. Ireland, which is not included ■■ in the above table, has 28 public companies with incomes over £50,000. The total amount of income tax charged under all schedules in the United; Kingdom was £33,044,021, made up as follows: . • ' ■ . . « £~ England and Wales 23,937,073 Scotland ... 2,970,853 Ireland .v- ...:... : v... : ; ... 1,136,095