Earning £71,000 has pushed
your gross past the UK Higher Rate threshold of £50,270. Your first slice of earnings still
consumes the £12,570 Personal Allowance and the 20% Basic Rate band; every pound above £50,270 is then taxed at the 40%
Higher Rate.
Conversely, your employee National Insurance contribution rate drops from 8% to 2% once gross crosses £50,270. That gives a combined marginal deduction of 42% on the upper
slice. Households claiming Child Benefit also need to watch the
High Income Child Benefit Charge
, which begins tapering once an individual's adjusted net income
crosses £60,000 and fully claws the benefit back at £80,000.