I keep getting people ask me "why has no one publicised that they've sneakily reduced the higher 40% income tax rate to ยฃ37701!?"
They haven't. In general you don't pay tax at 40% until your earnings are over ยฃ50,271 (and then only on the amount above that). People are getting confused because of how it is displayed.
Most get a personal (tax-free) allowance of ยฃ12,570
Then you can earn ยฃ37,701 at the basic rate.
Which means you start paying the higher rate at ยฃ12,570 ยฃ37,701 = ยฃ50,271 as it has been for the last few years.