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Data from HMRC show 364,000 workers will be paying the top rate of tax in 2017/18 – up 54 per cent since the band was introduced seven years ago.  Wage inflation and reducing the pension tax

relief for higher earners are thought to be the largest factors behind the increase.  The threshold for the "additional rate" of tax has remained at £150,000 since it was

introduced – with Labour suggesting this should come down to £80,000 should it win the General Election.  Other figures in the HMRC report show the number of basic rate taxpayers has

remained steady over the last four years and is expected to be  25,200,000 this year, while the number of people paying the higher rate of 40p is expected to drop around 4 per cent to

4,160,000 in 2017/18.  Tom McPhail, the head of policy at Hargreaves Lansdown, told the Telegraph: "The 45 per cent rate is now trapping high earners just as the 40 per cent rate did in

the past.  "High earners are already contributing a larger proportion of income tax than ever before and cuts to pensions have unfairly removed their opportunity for them to use tax

efficient savings products to reduce their tax bill."