The Stealth Tax Rise - A Podcast

6th April 2023

To many, the start of the new tax year in April will seem quiet, more of the same with no big changes to the tax system announced by the government.

But hidden beneath the surface lie some stealthy tax rises - freezes to thresholds which coupled with rising inflation are projected to raise around £30 billion for the Treasury over the next few years and hit household finances hard.

Here to reveal the truth are Helen Miller, Head of Tax at IFS, and Tom Waters, Associate Director at IFS.

To Listen To The Podcast Click HERE

Comment
As each year goes by this stealth tax combined with the other increases hitting the cost of living it will bite harder and harder. The stealth of the change really hits when it is equivalent of 4 to 5 pence increase in tax in the pound. The Freeze on personal allowances is one of the biggest tax increases in the last 20 years. The freeze is to last 6 years.