Public finances

The top 1% of income tax payers paid 27.2% of all income tax in 2023-24

Income tax payers in the UK, grouped by their total income before tax: each group's share of taxpayers, of income and of income tax paid. Percentages, 1999-00 to 2026-27. People who pay no income tax are not included.

Findings

• The top 1% of income tax payers paid 2.7 times as much income tax as the bottom 50% in 2023-24: 27.2% of the total against 9.9%
• The top 1% of income tax payers received 12.4% of all income before tax in 2023-24, and paid 27.2% of all income tax

Notes

• Income tax payers are ranked by their total income assessable for tax (earnings, pensions, savings and dividends) before allowances and deductions. Most social security benefits, ISA savings income and people below the tax threshold are not included.
• This chart covers income tax only, not National Insurance, VAT or other taxes.
• HMRC publishes shares for cumulative groups: the top 1%, 5%, 10%, 25% and 50%, and the bottom 50% down to the bottom 1%. This chart uses the top 1%, 10% and 50%; the middle groups are the difference between these (for example, the next 9% is the top 10% minus the top 1%), so shares may not add to exactly 100 because of rounding.
• Income ranges are HMRC's breakpoints: the income at which each group starts, in that tax year.
• From 2016-17 the dividend tax credit was abolished and dividend tax rates changed, so shares before and after that year are not directly comparable.
• Figures for 2008-09 are not available.
• Years from 2024-25 are HMRC projections based on the Survey of Personal Incomes, and will be revised when outturn data arrive.

Sources

• HM Revenue & Customs, Income Tax Liabilities Statistics, Table 2.4

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