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Record number of higher rate UK taxpayers
09 April 2018
One in six UK taxpayers, that’s nigh on 5m people, now pay the higher 40/45% higher rates of tax, according to new HMRC figures.
That compares to one in 12 people who paid the higher rates 20 years ago.
The 400,000 people who pay the 45% rate now contribute almost as much as the 25m basic-rate taxpayers combined.
The new rates for 5 April 2018 to 6 April 2019:
Employee personal allowance: £228 per week; £988 per month; £11,850
UK basic tax rate: 20% on annual earnings above the PAYE tax threshold and up to £34,500
UK higher tax rate: 40% on annual earnings from £34,501 to £150,000
UK additional tax rate: 45% on annual earnings above £150,000
Employee personal allowance: £11,850
Scottish starter tax rate: 19% on annual earnings above the PAYE tax threshold and up to £2,000
Scottish basic tax rate: 20% on annual earnings from £2,001 to £12,150
Scottish intermediate tax rate: 21% on earnings from £12,151 to £31,580
Scottish higher rate: 41% on annual earnings from £31,581 to £150,000
Scottish top tax rate: 46% on annual earnings above £150,000
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