As many as 1.4 million people could find themselves pushed up to the higher 40 per cent income tax rate within the next four years, with many others being pushed up into the highest 50 per cent tax band. The survey, carried out by accountancy firm, Grant Thornton, calculated that if wages continue to rise at the rate predicted by the government, then 5.5 million people will exceed the £42,475 threshold that will push them in to the 40 per cent band by 2015. Grant Thornton senior tax advisor, Max Warburton, said that the Chancellor's three-year freeze on tax thresholds - which was announced in June - would create twice as many 40 and 50 per cent tax payers in 2015 as there were in 1997."Lots of people who would not consider themselves rich are already paying higher rate tax and this is set to continue," Warburton warned. Mr Warburton said that he used wage growth figures from the Office of Budgetary Responsibility to make his calculations, but said that salaries would actually likely grow at a more conservative rate, possibly somewhere around 2.5 per cent. This lower rate, however, would still see middle ranking policemen and teachers, as well as senior nurses, face becoming higher rate taxpayers.
http://www.50percenttax.co.uk/index/2011/11/21/14m-more-people-to-face-50-per-cent-tax-rate.html
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