Higher rate income tax, once reserved for such professions as footballers and rock stars, is being paid by workers not traditionally regarded as wealthy, including teachers.
Figures from the Office for National Statistics have revealed that over the past decade a quarter of Britain’s teachers have been dragged into the 40p tax rate, and they’re not alone. A total of 1.6 million people have joined the ranks of those paying higher rate tax, including a third of police officers and one in 10 nurses, the Telegraph reports.
Workers start paying 40p per £1 earned, once they earn over £41,865, and now 121,000 teachers have crossed the threshold – 87,000 secondary school teachers and 34,000 primary teachers.
Last month the Prime Minister said he would “love” to raise the 40p threshold and admitted that it is increasingly paid by people who “don’t consider themselves to be wealthy.” Conservative MP Nick de Bois added: “I have always maintained that the Conservative Party needs to recognise that the higher rate of tax kicks in at a level where people are far from well off,” he said. “Teachers, police officers and nurses are now paying at a rate that was once reserved for the very wealthy and I hope we can address this in the next budget and make it clear a Conservative government will ease this burden.”
Are you surprised that so many teachers pay higher rate tax? If you’re one of those that pay it, has it affected your standard of living?