HMRC forecasts 1,130,000 more people will pay higher rate tax by the 2027/28 tax year, according to a new Freedom of Information (FOI) request submitted by wealth manager Quilter.
Additionally, the FOI revealed that HMRC predicts 301,000 more people will become additional rate taxpayers by the 2027/28 tax year.
The higher rate of tax is levied on anyone with an income between £50,271 to £150,000 at a rate of 40 percent, while the additional rate is taxed on an income o...
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