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Highest rate taxpayers at record level

The highest rate of income tax, is being paid by a record number of people however, this remains a fraction of total Taxpayer numbers.

It is estimated, that more than 360,000 people are paying the 45p rate of tax on income over £150,000.

These represent 1.2% of income tax payers in the UK, according to figures from the HM Revenue & Customs Tax figures.

The amount of people who pay the higher rates of tax of 40% is more than the basic rate of 20% which shows the people who are paying the basic level has fallen slightly.

Changes in pensions

Latest research shows that 25.1 million were paying the basic rate of tax – this is 81.8% of taxpayers. On the other hand, 13.7% of taxpayers pay at the higher rate of Government Tax – this is equal to around 4.2 million people.

Figures have also shown that taxpayer in the top 1% have had a share of the total income of around 12%. Statistics also show that this 1% were liable for just under 30% of all Tax Income.

Overall in the UK there is an estimated 30.3 million people paying tax.

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