Rishi Sunak’s stealth tax raid to drag two million into higher tax brackets | Personal Finance | Finance
“The number of people paying income tax has soared by 2.5 million in the past three years, partly as a result of the fact that the personal allowance hasn’t changed since April 2021, while prices and wages have climbed.
“It means millions more people being stuck with a tax bill.
“Meanwhile, the freeze in the higher rate threshold meant the number paying higher rate tax has jumped alarmingly – up 16 percent in a year, while the number paying additional rate tax is up 12 percent.”
The financial expert broke down how “things are only set to get worse” due to Rishi Sunak’s decision to freeze the income tax threshold.
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