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Number of higher-rate UK taxpayers expected to hit more than 7m this year

Frozen tax thresholds mean extra 500,000 to be taxed at 40% on some income in 2025-26, HMRC figures showThe number of people in the UK paying income tax at the higher rate is expected to increase by 500,000 this tax year, to more than 7 million, according to official figures.Income tax thresholds used to rise in line with inflation but have been frozen at the same level since 2021, a move announced by the then-chancellor, Rishi Sunak. Continue reading...

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