“Over 1 million Brits to be dragged into higher tax bands by 2027”

Jan 25, 2023 | Tax

So, yes, it will cost a lot to give all those strikers and others decent, or at least cost-of-living pay rises. But there’s a silver lining/sting in the tail, depending whether you’re the government or a now-better-paid worker. The freezing of tax allowances means that many who never dreamed of entering the elite ranks of high rate taxpayers will find themselves returning some of their hard-won extra pay as extra tax. I’d guess the books would rebalance fairly quickly, if nothing changes in the meantime. Noone who’s not a high rate taxpayer has much sympathy for those that are, and a future government anywhere to the left of the current bunch isn’t going to do much to reverse things. The same is true of the other stealthy rises/freezes in Inheritance, Capital Gains and Dividend tax, where the plan is the same, to pick our pockets, in the words of Mr Scrooge, rather more than once a year, and without us realising. Or so they think.

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“How grandparents are facing more restrictions than oligarchs”

“How grandparents are facing more restrictions than oligarchs”

I did say some years ago that it’s easier in this country to buy a football club than to pay £1,000 into an ISA. You need a bob or two more (depending on the team you’re after) but the point is that money talks and can oil and grease all sorts of wheels.