Top 3,000 pay 4.2% of UK’s income tax
Date: 11th December, 2014 | Author: Cathy Corns | Comments: 0
Recent government statistics show that the 3,000 highest paid people in the UK pay more income tax than all of the 9 million lowest paid.
HMRC’s statistics show that the top 10% of earners pay more than 55% of the total income tax and around 3,000 people will pay 4.2% of the total revenue from income tax in the current year. Interestingly, the figures also suggest that the 0.1% highest paid workers, around 30,000 people, pay 11.3% of all income tax.
In contrast, the 9 million lowest paid contribute less than 4% of total income tax receipts. Would it be more cost effective just to take the 9 million out of tax altogether?
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