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In 2019, the Conservatives also pledged not to increase tax "rates" - and went on to freeze tax thresholds. At the time, this was denounced by the Labour opposition as a "stealth tax".
The row centres on income tax thresholds, which have been frozen since 2021. While they remain fixed, inflation on wages pushes more workers into paying higher rates of the levy.
The chancellor also confirmed Labour will cut the earnings threshold at which employers start paying this levy from £9,000 to £5,000. ... capital gains tax (CGT) will increase to 18 per cent on ...
Changes to employer NICs include a 1.2 percentage point rate increase, a reduction in the threshold at which employers begin paying NICs from £9,100 to £5,000 a year and an increase in the ...
The Financial Times also leads on what it labels as a "stealth" tax, with the paper calculating that an extension of the freeze on personal tax thresholds beyond 2028 could raise £7bn.
Labour-supporting tax campaigner Dan Neidle says the Budget decision to charge death tax on family farms worth over £1m should be dumped in favour of a £20m threshold with an added clawback ...
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
According to Labour analysis, since the 2019 election when former Tory prime minister Boris Johnson won a landslide on a manifesto containing a pledge not to increase taxes, there have been 25 tax ...