Number of Top Rate Taxpayers Set to Hit 1 Million Amid Threshold Freeze

Published on June 28, 2024

The number of UK taxpayers liable to pay the top rate of income tax is set to reach 1 million for the first time as more people are dragged into the bracket amid an ongoing threshold freeze. The total number of taxpayers has also jumped by millions in the past three years, according to figures published by HM Revenue and Customs (HMRC) on Thursday. The threshold freeze, which began in April 2021, is set to continue for another three years, meaning HMRC can stealthily raise more taxes without raising tax rates, and no party has mentioned a reversal of the policy in their campaign pledges....

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