SPEEDING drivers will soon face stricter penalties and much higher fines based on what they earn.

From April 24 2017, new rules come into effect in the UK which will mean offenders could now be charged up to 175% of their weekly income.

Currently in the UK the minimum penalty for speeding is a £100 fine and three penalty points added to your driving licence while the maximum fine is £1,000 or £2,500 for motorway offences.

But when the new guidelines are brought in, those caught driving at more than 101mph in a 70mph speed limit could be disqualified for up to 56 days and get a fine of between 125 and 175 per cent of their relevant weekly income.

Or if you are caught going between 31 and 40mph in a 30mph zone you will get three penalty points and a fine of between 25 and 75 per cent of your weekly income.

Currently many drivers get away without points and a fine by paying for a speed awareness course.

It follows tougher penalties being brought in this month for anyone using a mobile phone behind the wheel.

The previous penalty of three points and a £100 fine has been doubled to six points and £200.

Why is the law being changed?

According to Green Flag, the number of speeding offences has increased 44 per cent in the last five years.

The new sentencing structure has been designed to produce a sufficient deterrent to reduce the number of speeding drivers.

How will this affect me?

If you’re a high earner, your fine could be huge.

If a footballer earning £300,000 a week was caught driving at 102mph he could face a fine of more than £500,000.

Meanwhile, an 18-year-old driver who works 40 hours a week on the minimum wage would be subject to a fine of less than £400 for the same speed.

How much will I be fined if I’m caught speeding?

The new speeding system is split into three bands which rate the severity of the offence based on the speed limit.

Band A refers to an offence that is between one and 10mph over the stated speed limit.

For example a band A speeding offence in a 20mph zone would be from 21mph to 31 mph.

A band B offence is 11mph to 21mph above the stated speed limit and a band C offence is 21 mph and above the stated speed limit.

The starting point for a Band A fine is 50% of your weekly wage.

Band B starting point = 100% of your weekly wage

Band C starting point = 150% of your weekly wage rising up to 175%