Offline
As of 2024/25, the 40% rate of the UK tax is within the range of (50,271 and 125,140). All income within this bracket is subjected to the higher rate of 40% as compared to the basic rate of 20% on income whose band is between 12,571 to 50, 270. Income exceeding 125,140 pounds is within the bracket of the extra 45 percent tax. These limits remain set in England and Northern Ireland to most taxpayers. It is relevant to these levels when doing personal financial planning and tax-efficient planning.