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UK Tax Hike Looms as Millions Face Higher Burden

7/8/2025

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Summary

Story summary

In the UK, millions are bracing for a tax hike as frozen thresholds push 4.2 million into higher brackets by 2028-29. With key allowances, such as the inheritance tax gifting limit, stagnant since the 1980s, rising inflation is intensifying the stealth tax burden. Critics argue this policy could severely affect struggling taxpayers.

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Story summary

In the UK, millions are bracing for a tax hike as frozen thresholds push 4.2 million into higher brackets by 2028-29. With key allowances, such as the inheritance tax gifting limit, stagnant since the 1980s, rising inflation is intensifying the stealth tax burden. Critics argue this policy could severely affect struggling taxpayers.