‘Stealth tax’ will pull more than one million into ‘higher rate’ tax band
Editor | 25 January 2023
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Inflation and frozen tax bands mean that more than one million people will pay the higher rate of tax by 2027, new figures released by HMRC show.

The tax authority is forecasting that 1.13 million people will be pulled above the 40% tax threshold by 2027/28, as wages rise quickly and tax bands stay at the same level.

Early retirees urged to return to work force

Reports suggest that the Government is planning to lure retired middle-aged workers back to the workplace to help boost the economy. 

In recent months, problems like inflation have been intensified by low levels of economic activity amongst some working-age people.