Over 2m people have entered the income tax system, while stealth taxes have seen nearly £100bn raised for the Treasury. HMRC says it has logged 36.7m income taxpayers for 2023/24, up from 34.5m in the previous tax year. Since 2020, the number of higher-rate taxpayers in the UK has increased by 50%, reaching 5.76m in 2023/24. This rise is attributed to the higher-rate tax threshold being frozen at £50,271 since 2021/22, while incomes have continued to grow. The Government plans to maintain this freeze until 2030/31, which is set to result in more individuals entering higher tax brackets due to fiscal drag. Higher-rate taxpayers now represent 15.7% of all taxpayers and contribute 32% of total income tax revenue
