finance

Thousands of Britons to pay extra £1,200 to HMRC after 45% tax charge


The Personal Allowance, which is the amount people can make tax-free, will remain unchanged at up to £12,570.

For lower earners, the basic rate of tax will stay at 20 percent on any amount between £12,570 to £50,271.

In comparison, higher earners will see a 40 percent tax charge on any money made between £50,271 to £150,000.

According to the Draft Welsh Budget, taxpayers in Wales will pay the same amount of income tax as those in England and Northern Ireland from April 2023.





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