Awful April: brace for a wave of stealth tax rises

cityam

Mar 31

Brits need to brace for incoming tax rises Daniel Berehulak/Getty Images) April is upon us and the new tax year will usher in a range of tax hikes, despite the absence of any headline rate rises, with...

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incoming tax rises Daniel Berehulak/Getty Images) April is upon us and the new tax year will usher in a range of tax hikes, despite the absence of any headline rate rises, with...</p>\n\n<a href=\"https://www.cityam.com/awful-april-brace-for-a-wave-of-stealth-tax-rises/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Awful April: brace for a wave of stealth tax rises</title>\n<style 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with...</p>\n\n<a href=\"https://www.cityam.com/awful-april-brace-for-a-wave-of-stealth-tax-rises/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4181","symbol_name":"酒店及度假村房地产投资信托","start_time":0,"source_url":"https://www.cityam.com/awful-april-brace-for-a-wave-of-stealth-tax-rises/","article_id":"2623558774","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/02/rainygloomybrits.jpeg?w=286&h=161&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/awful-april-brace-for-a-wave-of-stealth-tax-rises/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2623558774","pubTimestamp":1774964820,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Brits need to brace for incoming tax rises Daniel Berehulak/Getty Images) April is upon us and the new tax year will usher in a range of tax hikes, despite the absence of any headline rate rises, with frozen thresholds, shrinking allowances and tighter reliefs set to hit families, workers and savers.The harsh impact will also be felt as Brits are hit with a wave of rising household bills, compounding the financial pressure and coming at a time of heightened uncertainty amid the economic impact of the Iran war.Olly Cheng, financial planning divisional lead at Rathbones, said: “A new tax year usually brings a clean slate, but this one marks a clear step up in so-called stealth taxes.“Frozen thresholds are quietly pulling more people into higher tax bands, meaning more households will pay more tax, often without realising it.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4181":"酒店及度假村房地产投资信托","BK4218":"酒店及度假村房地产信托","IHT":"InnSuites Hospitality Trust"},"translate_title":"可怕的四月：为一波秘密增税做好准备","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IHT":1},"content_text":"Brits need to brace for incoming tax rises Daniel Berehulak/Getty Images) April is upon us and the new tax year will usher in a range of tax hikes, despite the absence of any headline rate rises, with frozen thresholds, shrinking allowances and tighter reliefs set to hit families, workers and savers.The harsh impact will also be felt as Brits are hit with a wave of rising household bills, compounding the financial pressure and coming at a time of heightened uncertainty amid the economic impact of the Iran war.Olly Cheng, financial planning divisional lead at Rathbones, said: “A new tax year usually brings a clean slate, but this one marks a clear step up in so-called stealth taxes.“Frozen thresholds are quietly pulling more people into higher tax bands, meaning more households will pay more tax, often without realising it.\n\n“The danger is people don’t feel the squeeze until the year is already underway, which is why it’s so important to take stock before and after the new tax year to get finances in the best possible shape.”\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe income tax trapSince the run up to the 2025 Autumn Budget, the conversation surrounding the income tax trap has gathered speed with families scrambling to sort their finances in a bid to prevent being dragged into a higher tax band.Income tax rates remained unchanged in last year’s Budget but the threshold freeze will remain until at least 2031, intensifying fiscal drag.HMRC estimates show that a record 2m people will earn over £100,000 in the incoming tax year, up from 1.9m this year, meaning roughly six per cent of the workforce will start the year in or on the edge of the tax trap.\n\nCrossing the threshold triggers the tapering of the personal allowance, creating an effective 60 per cent marginal tax rate on income between £100,000 and £125,140, turning bonus and pay rises into a “tax shock”.Inheritance tax billThe tax year also begins with frozen inheritance tax (IHT) thresholds, at £325,000 nil rate band and £175,000 residence nil rate band, regardless of any possible rise in property and asset values.Rathbones estimates that more than 3,500 estates could face IHT bills breaching £500,000 by the end of the current tax year, up from 2,520 estates in the 2021 to 2022 tax year.Cheng said: “Each new tax year quietly brings more families into the inheritance tax net. With thresholds frozen and asset values rising, IHT is no longer just a concern for the ultra-wealthy.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}