More than One Million Pensioners Are Now in the Top Tax Brackets

More than one million pensioners are now in the top tax brackets

The number liable for 40 per cent higher rate tax has doubled to 977k over the past five years, while those paying the 45 per cent additional rate has trebled to 115k.

Frozen tax thresholds are catching out pensioners – Here's how to plan around them

A quiet but significant shift has taken place in how pensioners are taxed. In the 2021/22 tax year, only 494,000 pensioners paid income tax at 40 per cent or above. That figure has now surpassed one million, and the total number of pensioners paying any income tax at all has risen from around 6.7 million […]

More than a million pensioners now pay higher rate tax – Here's what it means for you | Accountants Bury St Edmunds, Ipswich & Thetford

New figures have confirmed what many retirees are starting to feel in their bank statements. The number of pensioners paying income tax at 40 per cent or 45 per cent has surpassed one million this current tax year, up from… The post More than a million pensioners now pay higher rate tax – Here’s what it means for you appeared first on Accountants Bury St Edmunds, Ipswich & Thetford - Knights Lowe.

More than a million pensioners now pay higher rate tax – Here's what it means for you

New figures have confirmed what many retirees are starting to feel in their bank statements. The number of pensioners paying income tax at 40 per cent or 45 per cent has surpassed one million this current tax year, up from just 494,000 in the 2021/22 tax year. The rise has been even sharper at the… Read More »More than a million pensioners now pay higher rate tax – Here’s what it means for you The post More than a million pensioners now pay high…