Hint at tax breaks for Northern Ireland high earners

Taxpayers in Northern Ireland and the rest of the UK may be paying less income tax in the future as David Cameron has suggested some high earners might be moved out of the top tax bracket.

The prime minister said many people earn above £41,865 a year but “don’t see themselves as fundamentally wealthy” and were paying the 40p tax rate. He hinted that could be about to change, saying he would “love” to raise the level at which people started paying the top tax rate.

It is now estimated one in six people pay tax at the 40% rate.

David Cameron said in his speech to workers at a water company: “I understand the problem with the 40p rate kicking in when people are not earning a lot of money, and I have to look very carefully at the books before I can make any promises about it.”

Wilson Nesbitt Solicitors based in Belfast, Northern Ireland can assist you with any tax compliance issues and help if you have been selected for a tax enquiry. If you need to talk with one of our tax advisors please contact us by calling 0800 840 9288.