What Is the 40% Tax Bracket?

Unicorn Accountants19 Mar, 2024Finance

In the United Kingdom, tax rates are based on income and are divided into different brackets. The 40% tax bracket is one of the highest tax brackets in the UK, with a high tax rate for individuals earning more than £50,270 as of 2023. In this blog we will analyse the fundamentals of the 40% tax bracket, implications for taxpayers and effective strategies for lowering your tax liability.