Tag: Personal Savings Allowance
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Reeves Eyes £12bn Stealth Tax Raid on Savers in Budget
Overview: A Quiet Tax Shift Targeting Savers The upcoming Budget is shaping up to deliver a substantial hit to savers, with reports indicating Chancellor Rachel Reeves plans to raise about £12 billion by keeping the personal savings allowance frozen for another year. The move, described by insiders as a stealth tax raid, would deny savers…
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Reeves to Hit Savers with £12bn Stealth Tax Raid in Budget
Chancellor Reeves signals a stealth tax bite on savers The Financial Times reports, and later confirmation from Treasury officials appears, that Chancellor Rachel Reeves plans to generate around £12 billion in extra revenue by keeping the personal savings allowance frozen in the upcoming Budget. The move is being framed as a prudent step to balance…