Millions of Brits to face huge tax raises within weeks!

Millions of Brits to face huge tax rises within weeks that will cost them hundreds extra a year.

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It comes as millions of UK households are already battling a cost of living which is forcing some to choose between heating and eating.

Pressure is mounting on the Chancellor to abandon his looming four-year freeze on income tax thresholds and to raise them in line with inflation instead.

The Centre for Economics and Business Research for The Mail on Sunday show that more than ‘nine million workers’ will be forced to pay more tax due to the freeze.

It comes on top of higher energy bills and other increases, including a 1.25 per cent hike in National Insurance which will happen on April 1st.

A new energy price cap will also come into effect in April, adding £693 a year to the average household bill.

Five million lower-paid workers could have to pay income tax for the first time as a result of the measures, according to the CEBR analysis.

And another four million workers will be dragged into the higher income tax bracket, which will see them pay 40% tax on their earnings.

CEBR deputy chairman Douglas McWilliams said: ‘It is absurd. This stealth tax rise should be reversed.’

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