{"value":{"id":1748890,"askingMemberId":4638,"askingMember":null,"house":"Commons","memberHasInterest":false,"dateTabled":"2024-12-11T00:00:00","dateForAnswer":"2024-12-16T00:00:00","uin":"19379","questionText":"To ask the Chancellor of the Exchequer, what the highest possible marginal tax rate is.","answeringBodyId":14,"answeringBodyName":"Treasury","isWithdrawn":false,"isNamedDay":false,"groupedQuestions":[],"answerIsHolding":false,"answerIsCorrection":false,"answeringMemberId":4797,"answeringMember":null,"correctingMemberId":null,"correctingMember":null,"dateAnswered":"2024-12-20T00:00:00","answerText":"<p>For individuals with income between £100,000-£125,140, the income tax Personal Allowance is tapered by £1 for every £2 earned above this limit, until it has been completely withdrawn at £125,140. Taxpayers with incomes within the taper band face a higher effective marginal tax rate of 60%, compared to 40% below £100,000 and 45% above £125, 140. Income tax rates and thresholds are devolved in Scotland, so marginal rates within the taper band will vary based on the registered address of the taxpayer.</p><p> </p>","originalAnswerText":"","comparableAnswerText":"","dateAnswerCorrected":null,"dateHoldingAnswer":null,"attachmentCount":0,"heading":"Marginal Tax Rates","attachments":[],"groupedQuestionsDates":[]},"links":[{"rel":"self","href":"/Questions/1748890","method":"GET"}]}