The £100k tax trap: What it really means, the £9,600 hidden cost of a raise and how to avoid it

Opinions differ on the fairest way to charge income tax, but it’s generally agreed that those who earn the most should pay the most.

Officially, the highest rate of income tax in England is 45 per cent, and it applies only to income over £125,140, affecting approximately the top 3 per cent of all taxpayers.