https://birminghamdaily.co.uk/tags/taxthresholds/Recent content in taxthresholds on Birmingham DailyHugo -- gohugo.ioen-usFri, 01 May 2026 05:54:12 +0000https://birminghamdaily.co.uk/hmrc-set-to-collect-700-from-29-million-uk-households-due-to-frozen-tax-thresholds/Fri, 01 May 2026 05:54:12 +0000https://birminghamdaily.co.uk/hmrc-set-to-collect-700-from-29-million-uk-households-due-to-frozen-tax-thresholds/HM Revenue & Customs (HMRC) is poised to collect an additional £700 from millions of UK households, all because tax thresholds have been frozen since April 6, 2021. The personal allowance — the amount of income you can earn before paying tax — has remained fixed at £12,570, despite inflation. This phenomenon, known as fiscal drag, means that more of your income is effectively being taxed even though your earnings may not have increased in real terms.