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The Pamphlet Collection of Sir Robert Stout: Volume 14
The Income Tax
The Income Tax.
Pitt's Income and Property Tax.
In 1797-8, extreme pressure upon the Exchequer drove Pitt to desperate expedients to raise money. He had virtually abolished what was left of the Land Tax by perpetuating it at the valuation of 1692, and offering to sell it at 18 or 23 years' purchase for cash.
At the same time he told Parliament that the measure would not preclude that or any other Parliament from imposing another Land Tax, or from augmenting or re-assessing the existing one.
| On Land Rental | £20,000,000 |
| Tithes | 4,000,000 |
| Mines and Canals | 3,000,000 |
| House Rental | 5,000,000 |
| Scotch Rentals | 5,000,000 |
| Public Annuities | 12,000,000. |
| £49,000,000 |
| On Occupiers of Farms at rent | £6,000,000 |
| Profession | 2,000,000 |
| Incomes from abroad | 5,000,000 |
| Profits from Foreign Trade | 12,000,000 |
| Profits from Homo Trade and Employment | 28,000,000 |
| £53,000,000 |
| Realised. | ||
|---|---|---|
| 1798 | 10 per cent, on Incomes of £200 and upwards, and various rates between £60 and £200 | £1,855,996 |
| 1799 | 10 per cent, on Incomes of £200 and upwards, and various rates between £60 and £200 | 6,046,624 |
| 1800 | 10 per cent, on Incomes of £200 and upwards, and various rates between £60 and £200 | 6,244,438 |
| 1801 | 10 per cent, on Incomes of £200 and upwards, and various rates between £60 and £200 | 5,628,903 |
| 1802 | No Statement | |
| 1803 | 1s., in the £ on £150 and upwards, and various rates from 3d. to 11d. between £60 and £150 | 5,341,907 |
| 1804 | 1s., in the £ on £150 and upwards, and various rates from 3d. to 11d. between £60 and £150 | 4,111,924 |
| 1805 | Addition of one-fourth to these rates | 6,429,599 |
| 1806 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 12,822,056 |
| 1807 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 11,905,858 |
| 1808 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 13,482,294 |
| 1809 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 13,631,922 |
| 1810 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 14,453,320 |
| 1811 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 14,462,776 |
| 1812 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 15,488,546 |
| 1813 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 15,795,691 |
| 1814 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 14,188,037 |
| 1815 | 10 per cent, on Incomes of £150 and upwards. Incomes between £50 and £150 derived from Trades and Professions entitled to abatement | 15,642,338 |
In the year last mentioned, this tax (which had always been regarded as a war tax) was repealed, and, in 1842, re-imposed by Sir Robert Peel, not as a war tax, but for the purpose of meeting an increased expenditure. Subsequently it was retained as a substitute for the abolished duties upon commerce and manufactures, and has been, in this respect, truly a grand "lever" for the enfranchisement of labour and industry, especially during the chancellor-ships of Mr. Gladstone, who, in 1854, extended the operation of the Income Tax to Ireland. [For Statistics of Income Tax see following pages.]
page 175
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Income and Property Tax Assessments.
The Decrease in Land Assessments (Schedule A).
| £ | |
|---|---|
| Lincoln | 258,000 |
| York | 256,000 |
| Norfolk | 190,000 |
| Suffolk | 166,000 |
| Essex | 145,000 |
| Wilts | 144,000 |
| Cambridge | 134,000 |
| Northampton | 105,000 |
| Warwick | 103,000 |
| Gloucester | 96,000 |
| Somerset | 93,000 |
| Leicester | 92,000 |
| Kent (extra Metrop.) | 89,000 |
| Notes | 79,000 |
| Worcester | 66,000 |
| Hereford | 64,000 |
| Southampton | 59,000 |
| Stafford | 59,000 |
| Oxford | 59,000 |
| Berks | 57,000 |
| Salop | 54,000 |
| Devon | 46,000 |
And a Parliamentary Return of 1884 showed that in the year 1881-2 repayment was made for 99,521 acres of farms thrown on hand, and in the year 1882-3 for 51,617 acres.
The total decrease of valuation in the triennial interval was for England £3,389,772, and for Scotland £196,052, since which period both amounts have been greatly augmented, and now are shown by Income Tax records to total £5,265,000.