What is the highest rate of tax in 2011-12?

General considerations: You will be paying tax at the 40% income tax rate if your income less tax allowances exceeds £35,000 and at the additional rate, 50%, if your taxable income exceeds £150,000.   Additionally, your Personal Allowance reduces when your income is above £100,000 – by £1 for every £2 of income above the…