2022 set to deliver a tax squeeze The Mirror’s Harvey Jones looks at changes to taxation coming into force next year, noting that the new 1.25% National Insurance health and social care levy will be introduced in April, hitting 25m workers. He says taxpayers “are going to pay a high price” for Rishi Sunak's pandemic spending, highlighting that the Chancellor will look to help foot the nation’s coronavirus bill by freezing a host of tax allowances for five years. This, it is noted, applies to income tax, inheritance tax, capital gains tax and the pensions lifetime allowance. Rebecca O'Connor, head of pensions and savings at Interactive Investor, comments: "Tax freezes are a clever way of increasing the income tax people pay without technically increasing taxes, because as salaries increase, more people are dragged into higher bands." Shaun Moore, a tax and financial planning expert at Quilter, says freezing the IHT threshold is a stealth tax that means “more grieving families will face IHT bills after inheriting homes." Mr Jones notes that HMRC pocketed £5bn from IHT last year, with this to climb to £6bn this year. Analysis also shows that Mr Sunak's move to freeze the CGT threshold for five years will double the annual tax take from £9.2bn this tax year to an estimated £20bn a year in five years' time. Sean McCann, a chartered financial planner at insurer NFU Mutual, warns: "Too many people overlook the growing danger CGT now poses."