HMRC tax message to millions as more money could go into bank accounts

Millions of households could be in line for a tax boost in the coming months, meaning they will keep more of what they earn every month. The Chancellor Jeremy Hunt has strongly hinted at further tax cuts before the general election later this year.

It could potentially leave families hundreds of pounds better off a year. Mr Hunt was speaking after inflation fell to 2.3% in a much-needed boost to households.

He was quizzed on his plans for potential tax cuts later in the year. And while the Chancellor refused to confirm tax cuts were on the way, he strongly hinted they were planned, telling BBC Breakfast: "We want to bring the tax burden down."

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Further tax cuts would not come as a surprise in the run-up to an election the Conservatives are currently on course to lose, according to the national polls. It would be one of the last big measures the party could announce in a bid to make a difference to household finances and convince voters to change their minds.

Cuts to National Insurance have already been announced this year, putting more money into the pockets of working people. Critics continue to point out, however, that the overall tax burden remains at its highest point in decades because of frozen tax bands.

This means people are dragged into paying more tax as their wages rise, which has been dubbed a "stealth tax".