440,000 additional rate taxpayers expected in 2021-22
02 July 2021
HMRC has published official figures relating to income tax liabilities for tax year 2018-19 to tax year 2021-22.
Did you know that?
- In tax year 2018-19, there were 31.6 million taxpayers. It is thought that this will increase to 32.2 million in 2021-22
- In tax year 2021-22, there are a projected 27 million basic rate taxpayers (83.2% of the overall tax paying population) – this is a 2.6% increase from 2018-19
- Higher rate taxpayers make up a projected 13.1% of the overall tax paying population in 2021-22, at 4.13 million. This is a 2.4% decrease compared with 2018-19
- In tax year 2021-22, there are a projected 440,000 additional rate taxpayers – a significant 10.3% increase from 2018-19
The substantial increase in the number of additional rate taxpayers can be attributed to a decade-long freeze on the £150,000 threshold, which has remained unchanged, whilst inflation has not.
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