Over one million pensioners now in higher tax brackets
UKPulse Money Desk
More than one million pensioners are currently in the top tax brackets, with the freeze on tax thresholds expected to continue until 2031.
- The number of pensioners paying 40% higher rate tax has doubled to 977,000 in the last five years.
- Those paying the 45% additional rate tax have trebled to 115,000.
- The freeze on tax thresholds is set to last until 2031.
Over one million pensioners are now subject to the top tax brackets, according to recent figures. The number of pensioners liable for the 40% higher rate tax has doubled to 977,000 over the past five years.
Additionally, the number of pensioners paying the 45% additional rate tax has trebled, reaching 115,000. This situation comes as the freeze on tax thresholds is reportedly set to continue until 2031.