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Wealth

Answer

The proportion of total income accounted for by the top 10, 5 and 1 per cent. of UK taxpayers by income can be found in table 2.4 'Share of total income (before and after tax) and income tax for percentile groups', available at:"http://www.hmrc.gov.uk/stats/income_tax/table2-4.pdf"Information on the top 0.1 and 0.01 per cent. of UK taxpayers is not readily available.The number and average income of taxpayers in each group can be determined from the above together with table 2.5 'Income Tax liabilities, by income range', with reference to the total number of taxpayers and their income stated on this table. This is available at:"http://www.hmrc.gov.uk/stats/income_tax/menu.htm"Estimates for the proportion of wealth held by the top 10, 5 and 1 per cent. of the UK adult population are available up to year 2003 and are published in table 13.5 'Personal Wealth—distribution among the adult population of marketable wealth' at:"http://www.hmrc.gov.uk/stats/personal_wealth/menu.htm"Information on the proportion of wealth held by the top 0.1 and 0.01 per cent. of UK taxpayers is not available.The number of UK adults in 2003 was 46 million, from which figure the numbers in the top 10, 5 and 1 per cent. of the population can be calculated.The average wealth of persons in each group can be calculated by:"Calculating the wealth per group using the proportions in table 13.5 referred to above and the estimate of total marketable wealth published in table 13.4, available at""http://www.hmrc.gov.uk/stats/personal_wealth/table13_5.pdf"and"Dividing by the number of people in each group."

Secondary information

Type

Written question

Reference

497 c267-8W; 292135

Session

2008-09

Related items

Income Tax
Wednesday, 19 November 2014
Written questions
House of Commons

Subjects

Personal income Wealth

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk