fromBusiness Matters
4 days agoTop 1% of UK taxpayers now contribute a third of income and capital gains tax
The top 1% of UK taxpayers contributed a third of all income tax and capital gains tax (CGT) collected in the last financial year, according to new HMRC data that highlights the growing reliance on a small pool of high earners to support the public finances. A Freedom of Information (FOI) request by investment service Wealth Club found that the top 500,000 taxpayers paid £93.8 billion in 2023/24, accounting for 33% of total income and CGT receipts.
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