Millions prepare for cost of £20bn new tax regime - papers

The new charges, such as the 50p rate of income tax and the freezing of tax thresholds, will mean taxpayers will see nearly £20bn disappear from their pockets over the next couple of years, the Times reports. Mike Warburton, a director of accountant Grant Thornton, says: "Even though the blows being suffered by taxpayers are bad enough, we must anticipate even tougher measures after the election, when the incoming government has to tackle the serious budget deficit." Many companies have paid bonuses early or brought forward their dividend payments to help employees and shareholders av...