marginal rate of tax

Show Summary Details

Quick Reference

The amount of extra tax that is incurred if a taxpayer earns £1 more than his or her current income. Under a progressive tax regime, the marginal rate of tax rises as incomes rise. See also ability to pay.

Subjects: Financial Institutions and Services — Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.