Episode
More Earners Hit 40% Tax Bracket | Sheffield News
- Published
- Jul 11, 2026
- Duration seconds
- 115
- Processing state
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- https://sources.thednn.ai/e62fa5e62e13eab1
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Summary
Two million more households are now paying the higher 40% income tax rate — up from 3.8 million in 2020 to 5.76 million in 2023–24 — as frozen tax thresholds and rising wages push everyday earners like teachers and nurses into the higher bracket. With the threshold stuck since 2022 and no relief until 2031, inflation and modest pay increases are hitting take-home pay harder than ever. Financial planning, especially around pensions and ISAs, has never been more critical — and the burden is only set to grow as more people slip into the higher tax band. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/e62fa5e62e13eab1