The highest marginal tax rate on income is 62% (Including the employee’s National Insurance) on earnings between £100,000 and £125,140. We believe it is unfair that these taxpayers have a higher marginal rate than those earning millions. The personal allowance needs to be returned to everyone.

For every £2 earned over £100,000, taxpayers lose £1 from their personal allowance (which is then taxed at the 40% rate). This means that all taxpayers with an income over £125,140 do not receive the personal allowance. This bracket of income is taxed at 42% (40% Income Tax and 2% National Insurance). We consider that this coupled with the tapered loss of personal allowance essentially creates a 62% 'Super Tax' bracket. We believe this is not appropriate or fair and the personal allowance should be available for everyone as a fundamental right in the tax system.