South East average earnings 45% higher than Isle of Wight and other tax figures you may (not) want to know

Lots of interesting figures in this article about Isle of Wight average earnings and their comparison to the UK and the South East. Things like: Island taxpayers paid over £121m tax in the year 2015-16.

Money:

Data Reporter Joseph Hook shares this latest news as part of the OnTheWight’s collaboration with Press Association and Urbs Media. Ed


Taxpayers on the Isle of Wight earn significantly less than those across the UK, according to newly-released figures from HMRC, despite the average income increasing by over £3,000 in five years.

Data for 2015-16 shows that the average taxpayer on the Isle of Wight brought in £26,100 over the year, with some taxed on a combination of income from regular jobs, self-employment and pensions.

It means that the average total income for taxpayers in the area was 22% lower than the UK average of £33,400.

4k more Islanders paid tax
The HMRC data only includes those who pay income tax. Despite the tax-free personal allowance increasing from £6,475 in 2010-11 to £10,600 five years later, an estimated 4,000 more workers were taxed on the Isle of Wight in 2015-16.

With fewer people on lower paid jobs included in HMRC’s most recent data, average earnings went up by £3,600 at the end of the five-year period.

£212 million in taxes
Taxpayers on the Isle of Wight paid an average £3,370 in income tax over 2015-16. With 63,000 people taxed in the area, it amounted to a total contribution of £212 million to government coffers.

The average income of taxpayers on the Isle of Wight was lower than across the South East, where the mean was £37,900.

9k self-employed paying tax
The majority of taxable income came from paid employment.

In addition, 9,000 people paid tax on money earned through self-employment, including those who work for themselves full-time or who run a business alongside a main job.

UK’s highest and lowest incomes
The London borough of Kensington and Chelsea had the UK’s highest average income, with 74,000 taxpayers making an average of £178,000.

In contrast, the lowest average income was in Blackpool, at £22,300.

Image: Doug88888 under CC BY 2.0

Tuesday, 10th April, 2018 8:41pm

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Filed under: Island-wide, Isle of Wight Jobs, Isle of Wight News, RADAR project, Top story

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4 Comments on "South East average earnings 45% higher than Isle of Wight and other tax figures you may (not) want to know"

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Tim

It just highlights the lack of interest that successive Conservative Governments have had in closing the prosperity gap between ourselves and the nearby mainland

smuttydog

Just how many cities (with wages receiving “weighting” payments) are there within the South-East that this pile of “reporting” is comparing the mostly rural, non-stock-broker belt, Isle of Wight to?

Simon Perry
That’s kind of the point smutty. This reaction to our article on Twitter by Simon Roncoroni addresses it well: And yet we are bundled with the affluent South East when HM Gov dishes out our share of what we pay in. We have a higher retired population, less jobs, higher transport costs, poorer education yet someone thinks we are just a wingding Island. We’re not! https://t.co/TCQIAKM1zZ —… Read more »
bish

We need the differences between the poverty here to be highlighted for the politicians to take action. I welcome this report.