‘Punishing’ Autumn Budget tax trap set to deal further blow to HENRYs Personal Finance Thousands of UK workers are set to face an effective 64 per cent tax rate on their cash savings under a fresh tax raid launched by John Healey in his maiden Budget. The Chancellor confirmed he will hike taxes on savings by a further two per cent in April 2027, taking the rate to 44 [...]
Personal allowance hike on the menu at October Budget Tax The Chancellor is weighing up proposals to raise the personal allowance at next month’s Budget in what could be the biggest shake-up to income tax rules in years. John Healey is reportedly considering unfreezing the income threshold at which earners start paying tax from £12,570 to as much as £15,570. The unfreezing would be the [...]
Frozen tax thresholds to hold back Brits for ten miserable years Economics In March 2021 Chancellor Rishi Sunak described it as “a tax policy that is progressive and fair.” In November 2022, Chancellor Jeremy Hunt extended the policy, describing it as necessary and fair. In October 2024, Chancellor Rachel Reeves announced an end to the policy, saying extending it beyond 2028 “would hurt working people.” Alas, a [...]