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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