Скачать или смотреть Stealth Tax

I was today years old when I realised the government can raise taxes without actually raising taxes 🤯

This will bring in the most money from the entire budget and it is not even a tax rise.

Labour has frozen the income tax threshold until the year 2031.

At first this sounds harmless.
If they have not raised the tax then it must be fine right
Not really.

In the UK incomes usually grow by around 5 percent a year.
So if the threshold stays the same, more people slowly move into higher tax brackets.

That means more money for the government.
Around 8 billion pounds extra.

Most people think that when the tax rate stays the same they will not pay more tax.
But if your salary simply keeps up with inflation, that alone can push you into a higher band.

This is called Fiscal Drag.
Some people also call it the Stealth Tax.
And most people do not even realise it is happening.

#PropertyInvestment #PassiveIncome #FinancialFreedom #Manchester #DealSourcing