HMRC take £9bn more than last year in income tax and NI, FTSE 100 above key threshold - Latest stock markets updates, ...

The income tax higher-rate threshold has been frozen at £50,270 since 2021. Had it increased in-line with inflation, this threshold would be around £62,000 today – a difference of almost £12,000.

Income tax thresholds have been frozen since 2021-22, dragging millions of taxpayers into the income tax net for the first time, or into higher brackets.