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Tax rises: Will Rishi Sunak hike taxes in the Budget announcement? EXPERT

| UPDATED: 13:55, Wed, Mar 3, 2021
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Over the course of the last year, the Government has injected unprecedented levels of cash to help the nation through the coronavirus pandemic. Support such as the furlough and self-employment schemes have been widely hailed as a success, but they have come at a cost to the public purse. In his Budget announcement on Wednesday, March 3, it is possible Chancellor Rishi Sunak will announce some changes to taxes. While the nation awaits further updates on the fiscal situation, Express.co.uk spoke to personal finance ....

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Tax rises: Rishi Sunak told increases needed ahead of Budget 2021 announcement | City & Business | Finance

Mr Sunak is widely expected to hike corporation tax to 25 percent and resist increases to income tax, VAT and National Insurance.
Former Tory leader William Hague has reluctantly told the Chancellor now is the time for business and personal taxes to rise.
Lord Hague was succeeded by Mr Sunak in his Richmond, Yorks, seat when he stepped down as an MP in 2015.
He argued the only way to avoid tax increases would be to create smaller state, cut spending and reduce borrowing.
Rishi Sunak will deliver the budget on Wednesday (Image: GETTY)
Rishi Sunak is expected to raise corporation tax (Image: GETTY) ....

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Rishi Sunak to announce 'full firepower' Budget TOMORROW as furlough extended

Rishi Sunak to announce 'full firepower' Budget TOMORROW as furlough extended
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Personal Tax Allowance 'easiest target of all' as Rishi Sunak looks to cover Covid costs

Mr Stevenson went on to provide a checklist of what he will be watching out for.
Among the topics on the list was Personal Tax Allowance rules - something which he said was high in terms of the probability of it happening.
This is probably the easiest target of all because freezing the levels at which individuals start to pay tax and move into higher tax bands is a ‘stealth tax’.
Like inflation, it is a way of dipping into people’s pockets without many of them noticing.
The £6billion potential increase to Government revenues is not to be sniffed at either. ....

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Universal Credit: HM Treasury tackle benefit sanction rules ahead of Budget - full details

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Universal Credit claimants must agree to what is known as a claimant commitment, which sets out what applicants are expected to do in return for benefits and support. This can include hitting certain job application quotas or attending mandatory meetings but as coronavirus emerged, the Government was forced to alter their processes. ....

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