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Number of income taxpayers likely to fall in 2017-18 as low earners leave system

06 June 2017
Issue: 4602 / Categories: News

HMRC has published projections for year ahead.

HMRC has published data on the income tax liabilities of the UK for 2014-15 along with projections for 2017-18.

Key points include:

  • there were 30.7 million taxpayers in 2014-15. This is expected to decrease by 400 000 in 2017-18;
  • the top 50% of earners had 75.3% of total income in 2014-15 and were liable for 90.3% total tax;
  • the top 1% of taxpayers had 12.3% of total income in 2014-15 and were liable for 27.2% of total income tax.

The number of additional rate (45%) taxpayers increased in 2014-15 to 328 000 from 311 000 in 2013-14. This was due mainly to the threshold being fixed at £150 000.

HMRC predicts that in 2017-18 there will be 25.8 million basic rate taxpayers down 300 000 from 2014-15. Some 4.2 million (13.7%) will pay higher rate tax...

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