Notifications can be managed in browser preferences.Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleVicky ShawWednesday 29 April 2026 18:30 BSTRachel Reeves denies lying about Budget black hole to justify tax hikesNearly two million more people in the UK have been drawn into the higher-rate income tax band since the start of the decade, with 5.76 million individuals paying the higher rate in 2023/24.This represents a 50 per cent increase from 3.83 million in 2019/20, primarily due to the higher-rate tax threshold being frozen at £50,271 since 2021/22 while incomes have risen.The government has extended the freeze on tax thresholds, including the personal allowance and higher rate, until 2030/31, which is expected to pull even more people into higher tax brackets through 'fiscal drag'.Higher-rate taxpayers now account for 15.7 per cent of all UK taxpayers and contribute 32% of the total income tax collected by the government.Experts have labelled the frozen thresholds as a 'stealth tax' and advise individuals to utilise financial tools such as pensions and ISAs to manage their tax liabilities.In fullNearly two million more higher-rate taxpayers since start of decadeThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in