A higher rate of income tax is applied to individuals with taxable income exceeding certain thresholds, different from the basic rate of income tax. In 2016-17, it was levied at 40% on income over £32,000, with an additional rate of 45% for income beyond £150,000.
The top rate of income tax is the highest percentage of income that individuals in the highest income bracket are required to pay. This rate often affects high-income earners more significantly.
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