Stealth tax to hit motorsport owners Analysis for the Times shows that middle earners will face a hit of more than £3,500 a year due to a stealth raid on income tax set to be rolled out by the Prime Minister and the Chancellor. It is believed that Rishi Sunak and Jeremy Hunt have agreed to extend a freeze on income tax thresholds that had been due to end in 2026 until 2028 as they look to plug a £35bn gap in public finances. HMRC figures published in June shows that 6.1m people paid the higher rate of income tax because of the freezing of thresholds, up from 4.2m in 2019. Analysis shows that someone earning £50,000 a year would have paid £3,659 more in tax overall by 2028 if thresholds were frozen instead of rising with inflation. Someone earning £100,000 a year would be £8,229 worse off. The Government believes that extending the freeze in thresholds at the next Budget, due to be delivered on November 17, would raise about £5bn a year by 2027/28. This will hit many owners of motordsport businesses