A third of high earners risk slipping into 45% tax band One in three high earners including many in the motorsport sector unknowingly faces paying the top 45% tax rate next month. As of April, the 45% tax threshold will drop from £150,000 to £125,140. Research from Barclays Wealth shows that one in three of those affected including those in the motorsport sector may be unaware of the change. A poll of 3,000 higher earners found that one third who have an income of over £125,140 do not know their tax band, meaning they may be unprepared for the higher bills they may face when the threshold is reduced. The Office for Budget Responsibility this week forecast that lowering the additional rate band will drag an extra 350,000 workers into the top rate over the next five years. The number paying 45% tax on their income will exceed 1m for the first time in 2025/26, the report shows. With other tax bands frozen, taxpayers are set to be dragged into higher tax brackets as wages rise. The Institute for Fiscal Studies says the stealth tax raid is expected to pull in £120bn over the next five years.