After personal and social security taxes are deducted, such UK persons retain exactly 50 per cent of their annual earnings, the firm said. By comparison, a Canadian retains 53.6 per cent, while a German keeps 53.2 per cent. However, on the other hand, a French high-earner keeps 45.9 per cent. France has recently introduced a new top tax rate of 75 per cent; the UK, on the other hand, is due to reduce its top 50 per cent tax rate to 45 per cent from April, as announced in last year’s annual budget.

The findings are significant if only by showing that the UK is, despite tax rises in other parts of Europe, not quite the “tax haven” that it is sometimes made out to be.

“Out of 26 countries analysed, the UK has the ninth highest tax burden on those earning $200,000 (roughly £125,000) and $250,000 (£160,000) per year, and the sixth highest for those earning $1,500,000 (£950,000) per year.

“The tax burden on the UK’s highest earners has become heavier and heavier over the past few years. The cut of the 50 per cent top rate of tax to 45 per cent can’t come soon enough for the UK’s highly-skilled, highly-motivated and highly-mobile directors and entrepreneurs,” Mark Giddens, head of private client services at UHY Hacker Young’s London office, said in a statement.

“However, Britain’s higher tax burden over the past few years has not just come through the temporary 50 per cent rate – but from increases in National Insurance and changes to allowances and reliefs. Those will not be reversed when the reduction to the 45 per cent rate finally comes,” Giddens said.

“The complex way in which governments layered on the tax burden on high earners also shows how complicated the UK's personal tax system has become. High, complex and opaque taxes are making the UK uncompetitive internationally,” he continued.

“Although the cut to 45 per cent will move the UK back towards the mainstream of taxes on the highest earners, it will still leave the tax burden on the highest earners in the UK above that of the US, Australia, or Japan,” he said.

The firm studied data in 26 countries, including all members of the G8 and the emerging BRIC economies. Calculations showed the basic "take home pay" of a single, unmarried employee after income taxes and employee social security contributions are deducted for salaries of $25,000 (£16,000), $50,000 (£32,000), $200,000 (£125,000), $250,000 (£160,000), and $1,500,000 (£950,000).

The UK is one of the few countries to impose a personal tax rate (including social security contributions) of over 50 per cent for those earning more than $1,500,000 (roughly £950,000). The other countries are: France (54 per cent income taken); Italy (52 per cent); Ireland (52 per cent); the Netherlands (51 per cent); and Spain (50 per cent) – the UK government takes 50.03 per cent.

BRICs

The BRIC countries – Brazil, Russia, India, China – all have some of the lowest levels of personal tax and social security contributions. The average taxpayer in a BRIC country will keep 85 per cent of their income at $25,000 and 75 per cent at $200,000. This compares to just 80 per cent and 62 per cent for the same average taxpayers in G7 countries.

Russia was the most consistently low-tax economy, appearing most often in the five lowest taxing economies across the pay brackets.  Italy and France appeared most often in the five highest taxing economies.