Frozen tax thresholds mean extra 500,000 to be taxed at 40% on some income in 2025-26, HMRC figures show

The 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.

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