In what percent category is taxation for the 40% bracket in the 2024 tax year?

[accounting lads]

40 tax bracket 2024 which runs from 2024/25, anyone earning over £50,271 to £125,140 will be taxed at 40%. It is referred to as the higher rate of income tax. Income in this bracket, not your entire earning, is taxed at 40%. For income exceeding £125,140, you pay an extra 45%. If that is your range of income, you can use pensions, make charitable contributions or join salary sacrifice schemes to lower your taxable earnings and reduce your tax bill this way.

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