# More Earners Hit 40% Tax Bracket | Sheffield News

Page: https://stenobird.com/podcast/sheffield-news-today-2-min-news-the-daily-news-now-7590369/more-earners-hit-40-tax-bracket-sheffield-news
Text version: https://stenobird.com/podcast/sheffield-news-today-2-min-news-the-daily-news-now-7590369/more-earners-hit-40-tax-bracket-sheffield-news.md
Podcast: [Sheffield News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/sheffield-news-today-2-min-news-the-daily-news-now-7590369)
Published: 2026-07-11T08:42:27+00:00
Episode link: https://sources.thednn.ai/e62fa5e62e13eab1
Audio file: https://api.fastcast.ai/audio/9180f2ec-66a1-48e7-acee-be440cbe8c11.mp3
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Duration seconds: 115

## Resource

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: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/e62fa5e62e13eab1

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## Transcript

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