Quirks in the UK's tax systems mean you can be charged £450 more for earning £1 extra a year. Others won't lose money as a result, but see their effective tax rate surge to more than 70% - with people on universal credit among the worst affected as they lose more of their money than millionaires.
Laura Suter, personal finance analyst at AJ Bell, said: “The complicated and often unfathomable tax system in this country means that some people find themselves paying eye-watering tax rates, as they see a £1 pay rise can mean certain benefits or allowances are whipped away. “While the highest rate of income tax in the UK, for the most wealthy, is 45% for anyone earning £150,000 or more, in fact some people on far lower incomes are facing tax
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