A million 'middle managers' fall into higher rate tax bracket

It said figures released by the tax office show almost a third more workers will pay 40% tax or more during this financial year than paid it three years ago - taking the total of higher rate taxpayers to 4.1 million. The report said about 300,000 of these will pay 50% tax. However, the report added while the number of higher rate taxpayers would increase - due to a combination of factors including 'fiscal drag' where tax bands do not more in line with inflation - the overall number of taxpayers would fall this year from 30.1m to 20.7m. This is due to more of the lowest paid people bein...