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Strategies for a high tax environment

Tax liabilities change as incomes increase

1 Nov 2023

The income tax system has changed significantly in recent years. Until the spring 2021 Budget, governments had focused on increasing the personal allowance. Since then, the focus has been
on freezing the allowance (and the higher rate tax threshold), a covert way to raise additional revenue at a time of high inflation. As a result, the population of income tax payers today is 13%
more than in 2020/21 and is projected to increase another 7% by 2027/28.

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Strategies for a high tax environment

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