Written Question·Treasury·UIN 19380
Marginal Tax Rates
Tabled: 11 December 2024
Answered: 20 December 2024
Question
Mr Tanmanjeet Singh Dhesi
Labour — Slough
To ask the Chancellor of the Exchequer, how many people were subject to a marginal tax rate (a) at and (b) above 100% in the last financial year.
Answer
James MurrayFor individuals with income between £100,000-£125,140, the income tax Personal Allowance is tapered by £1 for every £2 earned above this limit, until it has been completely withdrawn at £125,140. Taxpayers with incomes within the taper band face a higher ...
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