Home Forums HTML Tutorial: HTML & CSS for Beginners What is the 40% tax bracket?

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    User Avataraccountingbyte

    The higher rate income 40 tax bracket, which applies to those earning between £50,271 and £125,140, is 40%. The personal allowance is the lowest of the four income tax rates; the other three are the basic, higher, and additional rates. Your entire income for the tax year must be greater than the basic rate to place you in the “higher rate” bracket and put you in the 40% tax bracket. his means the amount you make that’s within this bracket will be 40% tax bracket and then £125,140 upwards will go in to the ‘additional rate’ band, which is taxed at 45%.

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