Miles Dean comments on inflation’s impact on individuals’ tax in The Times
Partner and Head of International Tax, Miles Dean, comments on spiking inflation pushing more high-income earners into a higher tax bracket, in The Times.
Miles’ comments were published in The Times, 06 June 2022.
“It was scandalous when this stealth tax was introduced, but it didn’t affect that many people so they got away with it.
Miles argues that it is “still scandalous that the government of the day continues to punish individuals in this income bracket by removal of their personal allowance with no justification”. He said that the cost of living crisis, with inflation running at a 40-year high of 9 per cent as of last month, “brings the iniquity of this part of the tax regime into sharp relief.
“Hopefully, enough people will see the light and demand that this insidious policy is removed,” he said. “It would be even better were the government to realise this and act on its own, but pigs might fly.”