Britons warned of ‘hidden taxes’ costing an extra £10,300 a year – ‘tax you can avoid’ | Personal Finance | Finance


The Loyalty Tax

Loyal customers make up a large part of a company’s success. However, when it comes to subscription services, roadside assistance, insurance, and pension costs, they are still charged £4billion more a year than new customers.

Britons can save between £100 to £300 a year by switching providers for banking, insurance, mobile phone contracts, broadband and utilities.

People can shop around as a lot of the time, companies will offer financial incentives to stay and even improve on a competitor’s deal.

The Singles Tax
Being single has its perks and downfalls, but the financial implications of a life lived alone can come as a shock for many. In 2022, singles spent around £630.38 more a month on bills, socialising and holidays, than those who were coupled up, according to Ocean Finance. This adds up to a staggering £7564.56 over the course of a single year.

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