What Is the 40% Tax Bracket? A Comprehensive Guide

Finance

Source: What Is the 40% Tax Bracket? A Comprehensive Guide

In the United Kingdom, tax rates are based on income and are divided into different brackets. The 40% tax bracket is one of the highest tax brackets in the UK, with a high tax rate for individuals earning more than £50,270 as of 2023. In this blog we will analyse the fundamentals of the 40% tax bracket, implications for taxpayers and effective strategies for lowering your tax liability.

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