The number of higher rate taxpayers in Wales rising at the 3rd highest rate in UK, new study finds

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Image by Gerd Altmann from Pixabay

A new report has revealed that the number of higher-rate taxpayers in Wales has increased by up to 36.22% over the past 10 years. So, how does this compare to other regions across the UK?

The experts at Utility Bidder have created the European Tax Report which analyses various factors such as the UK regions with the highest percentage of people paying the higher tax rate and those with the biggest change in higher rate taxpayers. The countries with the highest tax revenues as a percentage of GDP, the countries with the highest tax on goods and services as a share of GDP and more.

The UK regions with the biggest change in higher rate taxpayers

Rank

Region

Higher Rate Taxpayers (2014/15)

Higher Rate Taxpayers (2023/24)

10-Year Percentage Change in Higher Rate Taxpayers

1

Scotland

339,000

563,000

66.08%

2

Northern Ireland

64,000

97,000

51.56%

3

Wales

127,000

173,000

36.22%

4

West Midlands

288,000

390,000

35.42%

5

South West

330,000

443,000

34.24%

6

East Midlands

250,000

328,000

31.20%

7

North West

370,000

473,000

27.84%

8

East of England

472,000

600,000

27.12%

9

Yorkshire and the Humber

257,000

325,000

26.46%

10

North East

116,000

146,000

25.86%

11

London

823,000

1,010,000

22.72%

12

South East

819,000

994,000

21.37%

The UK region with the biggest change in higher rate taxpayers is Scotland. Between 2014 and 2015, Scotland was home to 339,000 higher-rate taxpayers which increased to 563,000 in 2023/24, which is a change of 66.08% and considerably more than any other region in the country. In terms of the UK regions with the highest number of higher-rate taxpayers, Scotland takes second place with 19.22% of its population falling into this bracket.

Northern Ireland takes second place as the UK region with the biggest change in higher rate taxpayers. Between the period of 2014/15 and 2023/24. The number of higher-rate taxpayers in the region increased by 51.56%, with Wales finishing in third place with a change of 36.22%.

The report also revealed:

  • London has been named the UK region with the highest number of higher-rate taxpayers. Across the region, 21.67% of workers pay the highest tax rate, while Northern Ireland has the lowest figure at 10.85%.

  • Finland has topped the list of European countries with the highest tax score at 8.26/ 10. The country scored high on factors such as total tax revenues, taxes on goods and services and more.

  • When looking at the European countries with the highest tax revenues as a percentage of GDP, Denmark takes the crown with 47.4%. The country with the lowest figure is Kazakhstan at 15.6%.

You can view the full report here – https://www.utilitybidder.co.uk/compare-business-energy/european-tax-report/


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