![Half a MILLION caught in the 60% tax trap by earning £100,000](https://i.dailymail.co.uk/1s/2024/07/16/12/87394683-0-image-a-14_1721128201866.jpg)
More people than ever are being stung by the 60 per cent tax trap , which affects those earning between £100,000 and £125,150 a year. While the official top income tax rate is 45 per cent for earnings above £125,140, the removal of the personal allowance above £100,000 means an even higher marginal rate just below that.