Tax brackets changing

Nkay11

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

Nomunnofun1

Nkay11 said:

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

Nothing on the news because there has been no change! 

It really doesn’t ’start at 37701’. 

Personal allowance 12570
THEN 37700 at 20%

ABOVE 50270 - 40%

The basic rate band is 37700 I.e. the amount charged at 20%. 

Note the heading - Income AFTER  allowances.

https://www.gov.uk/government/publications/rates-and-allowances-income-tax/income-tax-rates-and-allowances-current-and-past#tax-rates-and-bands

ccluedo

Nkay11 said:

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

Excl your PA. 

Dazed_and_C0nfused

Nkay11 said:

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

You appear to be forgetting about your Personal Allowance

Nkay11

Apologies. It appears, I was being completely stupid forgetting about the personal allowance 🤦🏼‍♂️ thanks guys.

SiliconChip

You're by no means the first person to ask this so don't worry too much about it, at least you know the answer now.

Sarahspangles

Nkay11 said:

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

There seems to be something doing the rounds about this, leading to people asking - did you spot this yourself or was it passed on?

Nomunnofun1

Sarahspangles said:

Nkay11 said:

Hi guys,

Could somebody confirm if the tax brackets are changing from April? (In particular the level at which you start paying 40% tax?)

This year the 40% tax bracket started at £50,271 but on the government website, it is saying that the 40% bracket starts at £37,701 😮

Unless I’m being completely stupid, I haven’t seen anything regarding this massive change on the news? I would have thought this would be on every news outlet out there if true considering Labours promise not to raise taxes? 🤷🏼‍♂️

There seems to be something doing the rounds about this, leading to people asking - did you spot this yourself or was it passed on?

Not sure HMRC help even if both pages are correct! 

https://www.gov.uk/income-tax-rates

https://www.gov.uk/government/publications/rates-and-allowances-income-tax/income-tax-rates-and-allowances-current-and-past#tax-rates-and-bands

Grumpy_chap

Sarahspangles said:

There seems to be something doing the rounds about this, leading to people asking - did you spot this yourself or was it passed on?

It was here a couple of days ago
https://forums.moneysavingexpert.com/discussion/6586727/2025-26-income-tax/p1

MSE_James

Our own @MSE_Martin has also posted about this on his social media channels:

https://www.facebook.com/mrmartinlewis/posts/pfbid06ACbv3gp2Y6xbv8j2qRoKSPpctKA3bmDWzFyWtd5AkbAYifBGkXWduJCDAMdLdrMl