BriefTea
Every story in sixty words
Get the free app no ads · no paywallExplained in plain English
The highest rate of income tax in the UK is currently 45% (since 2010), applied to earnings over £150,000. This is known as the additional rate. The letters to billionaires are about ensuring they pay the correct amount on all their income and assets, not necessarily about increasing the tax rate itself.
Stories that explain this
HMRC Writes to Billionaires Asking What They OwnRelated explainers
How do rich people avoid tax? Can HMRC demand my accounts? Who sets council tax rates? What are the 50 Top Pizza awards? What are average death rates? Why does the Bank of England hold rates? Why does the Bank of England raise rates? How would banks' tax rise affect me?The full catalogue
Browse every card filed under T →We would like to count visits and see which links bring readers here. That means storing a random ID in your browser. No cookies, no ads, no profile. How it works.