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Millions of UK savers face unexpected tax bills due to frozen allowances and rising interest rates.
Millions of UK savers face unexpected tax bills in the 2025-26 financial year due to frozen tax allowances and rising interest rates.
Over 2.6 million individuals will pay taxes on their savings interest, with the average bill at £2,300, totaling over £6 billion in tax revenue.
HMRC plans to collect National Insurance numbers to improve enforcement.
Using Individual Savings Accounts (ISAs) can help avoid these taxes, though the ISA allowance may face scrutiny.
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Millones de ahorradores del Reino Unido se enfrentan a facturas de impuestos inesperadas debido a las asignaciones congeladas y al aumento de las tasas de interés.