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What’s your income tax rate? Most of us believe it’s 20pc or 40pc but are aware that extra is skimmed off in National Insurance (NI). The reality is quite different. As your salary rises, real tax rates, with NI, change thus: 32pc to 42pc to 62pc back to 42pc and then finally up to 52pc (or 47pc after the highest rate of income tax was cut).