It has been calculated that some top earners, with a salary in excess of £100k, could end up paying an effective tax rate of more than 90% as a result of the recent changes to the additional rate threshold announced in the Autumn Statement cum Budget.
Yes, a salary of 100k + does still put you in a relatively select group at the top of the UK earners list. Whilst those at the very top of that heap are touching seven-figure salaries, the proportion of those on more than £100k continues to grow.
But with a cost of living crisis, slow growth and record amounts of government borrowing needing to be paid back, if you’re earning £100k or more in the UK, you may find yourself in the spotlight if there are any changes to the income tax bands.