Tax structure and parameters

           
TA.2 - Rates of Surtax 1948-49 to 1972-73      
1948-49 to 1964-65 and 1966-67 to 1971-72
1965-66 and 1972-73
Bands of surtaxable income(1)
Rate of surtax
Bands of taxable income(1)
Rate of tax
up to 2,000
Nil
up to 2,000
Nil
2,000-2,500
10.00 (1) (2)
2,000-2,500
11.00 (2)
2,500-3,000
12.50 (1) (2)
2,500-3,000
13.75 (2)
3,000-4,000
17.50 (2)
3,000-4,000
19.25 (2)
4,000-5,000
22.50
4,000-5,000
24.75
5,000-6,000
27.50
5,000-6,000
30.25
6,000-8,000
32.50
6,000-8,000
35.75
8,000-10,000
37.50
8,000-10,000
41.25
10,000-12,000
42.50
10,000-12,000
46.75
12,000-15,000
47.50
12,000-15,000
52.25
15,000-20,000
50.00
Above 15,000
55.00
Above 20,000
50.00 (3)

Footnotes

  1. For 1969-70 and 1970-71 surtaxable incomes below £2,500 were exempt from surtax but above that level the whole schedule applied so that tax was paid on all surtaxable income above £2,000. However, marginal relief was available to prevent a large jump in taxable liability at £2,300 whereby incomes between £2,500 and £2,681 were charged at 40% of the excess over £2,500.       
  2. For 1971-72 and 1972-73 incomes below £3,000 were exempt from surtax. Marginal relief was available for surtaxable incomes in the range £3,000 to £3,499 whereby tax was only charged at 40 per cent (44 per cent in 1972-73) of the excess over £3,000.  
  3. 52.5% 1948-49 to 1950-51.   
 
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