Dagelijks archief: 13 november 2019

Top 1% of earners in UK account for more than a third of income tax

Tax revenues ever more reliant on small group of high earners, says Institute for Fiscal Studies

The top 1% of earners in the UK now account for more than a third of income tax paid to the government, following changes over the past decade that have left almost half the population exempt from making payments.

In research underlining the dual nature of Britain’s income tax structure, the Institute for Fiscal Studies said above-inflation increases in the personal allowance to £12,500 a year meant 42% of adults paid no income tax.

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