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  • FIRST POST
    MikalDrey
    When am I considered a Higher Rate Taxpayer
    • #1
    • 4th Feb 11, 10:07 AM
    When am I considered a Higher Rate Taxpayer 4th Feb 11 at 10:07 AM
    Hello,

    With the incoming changes to Tax etc. When am I actually considered to be a Higher Rate Taxpayer.

    The Higher Rate is earnings over "42,475"
    The 40% is applicable on taxable income over "35,001"

    If my gross income is over 42,475 but my net income (due to deductions) pushes my net income under the 35,001 threshold am I still considered to be a Higher Rate taxpayer.

    Benefits (specifically the change to child benefit) and various other things are dependant on whether or not you are a Higher Rate taxpayer.

    Many thanks in advance
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