Record numbers of adults are paying no income tax, an analysis by the Institute for Fiscal Studies (IFS) shows, as the burden increasingly falls on the top one per cent of earners.

A unique IFS analysis of HMRC tax records reveals 43 per cent of adults do not pay income tax, up from 38 per cent in 2010. By contrast, the top one per cent of earners are now paying 27 per cent of the nation’s income tax.

They typically earn at least £160,000 a year, are male, middle-aged and are concentrated in London and the south east of England, which account for three-fifths of the top one per cent of earners in the UK.

IFS experts warned that relying on such a small group was “risky” as any policy that threatened them could have a disproportionate effect on tax and public spending on hospitals, schools and police.

“It is of concern,” said Robert Joyce, IFS head of income, work and welfare. “It creates additional risks if such a large share of your revenues is coming from a small group. Suddenly, the behaviour of that group becomes a particularly big issue for the rest of us.”