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flag Over 7 million UK households face higher taxes due to a freeze on tax thresholds, HMRC warns.

flag Over 7 million UK households may receive letters from HMRC due to a freeze on tax thresholds, leading more people to pay higher taxes. flag By 2025-26, the number of higher-rate taxpayers is expected to rise to over 7 million, with an additional 500,000 people facing a 40% tax rate on part of their income. flag In 2021-22, 4.4 million people were already affected by this higher tax rate.

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