- Toilet paper, considered a necessity by 82% of people, is subject to VAT
- Experts say the state pension age in Britain could rise to 71 or even higher
- From 1 April, vehicle Excise duty (VED) will officially rise in the UK
- Council Tax is set to rise broadly
Toilet roll is classified as a “luxury item,” and British citizens must pay VAT for it
Recently, a public opinion poll revealed that most UK residents are not aware that they are taxed on toilet rolls.
In fact, the average British household purchases over 100 rolls of toilet paper annually.
Imposing VAT on essential items inadvertently adds financial pressure to socially vulnerable groups.
As a result, toilet roll manufacturers have proposed to the Chancellor the cancellation of taxation on their products.
The age for receiving pension in the UK may be raised to 71
The Global Ageing and Health Index suggests that the retirement age for middle-aged workers in the UK could increase to 71 by 2025.
Currently, the age for both men and women to receive the state pension is 66, expected to rise to around 68 by 2045.
The Department for Work and Pensions (DWP) states that the primary reason for raising the pension age is to ensure the sustainability of the national pension scheme.
Starting from April 1, vehicle excise duty (VED) in the UK will officially increase.
From April 1, 2024, owners of petrol, diesel, and hybrid cars will need to pay higher fees.
The UK’s vehicle excise duty (VED) primarily depends on the pollution level of the vehicle.
This means that owners of heavily polluting petrol and diesel cars will be most affected.
Until April 2025, owners of pure electric cars will temporarily be exempt from VED fees.
Council Tax in the UK will see a widespread increase.
So far, 136 counties in England have announced proposals for an increase in Council Tax.
It is understood that 95% of these local authorities have confirmed an increase to the maximum limit: 4.99%.
However, authorities such as Birmingham, Woking, Slough are raising Council Tax to 10%.
This widespread increase is expected to inject new funding sources into local governments to prevent financial bankruptcy.
