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UK Taxpayer Surge: 2.3 Million Facing Higher Tax Burdens by 2029

11/22/2025

30 4 Full Breakdown

Summary

Story summary

By 2029, nearly 2.3 million UK taxpayers will earn over £100,000, up from 1.8 million, per Rathbones.
The rise results from thresholds frozen since 2010 and 2017, despite salary inflation.
People earning £100,000 to £125,140 lose 62p of each extra pound due to personal allowance.
Income above £125,140 is taxed at 45%.
If thresholds kept pace with inflation, losses begin at £154,000 and childcare perks vanish at £133,000.

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Story summary

By 2029, nearly 2.3 million UK taxpayers will earn over £100,000, up from 1.8 million, per Rathbones.
The rise results from thresholds frozen since 2010 and 2017, despite salary inflation.
People earning £100,000 to £125,140 lose 62p of each extra pound due to personal allowance.
Income above £125,140 is taxed at 45%.
If thresholds kept pace with inflation, losses begin at £154,000 and childcare perks vanish at £133,000.