Small minority pay a third of all income tax
HMRC’s figures show that in 2013/14 the best paid 1% of workers will contribute just under 30% of all income tax. The top 1% comprises individuals earning in excess of £160,000 p.a.
Apparently those earning more than £1m p.a. will contribute just under 12%.
It appears that the reports of widespread tax avoidance may be a touch exaggerated.
Date: 20th November, 2013
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