British Gas price increase: How to BEAT electricity hike | Personal Finance | Finance

Britons are under sustained attack from the taxman, banks, insurers and holiday companies as rip-off Britain returns with a vengeance. 

But the good news is that with a little planning you could save yourself hundreds or even thousands a year. 

The 12.5 per cent British Gas charge hike is almost five times consumer price inflation at 2.6 per cent and will cost millions of customers £76 a year each on average. 

Peter Earl, head of energy at CompareTheMarket.com, said: “Savvy customers willing to take action can save over £290 simply by switching provider.” 

Switching to a comparison site is quick with no disruption in service and no engineers coming to call. 

Motor insurers are also profiteering as ordinary car owners are now paying the highest premiums ever. 

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British Gas has announced it will increase electricity prices in August


Savvy customers willing to take action can save over £290 simply by switching provider

Peter Earl, head of energy at CompareTheMarket.com


Campaigning law firm Thompsons Solicitors said insurance premiums have hit a record high after rising 19.6 per cent in a year, even as insurers post record profits. 

Head of policy Tom Jones said : “The industry is unabashedly profiteering at the consumer’s expense.” 

Again, you could save hundreds of pounds on a price comparison site. 

Inheritance tax (IHT) is the most hated tax in Britain and the burden is growing, but here too you can fight back. 

HM Revenue & Customs took a record-breaking £4.9billion in 2016/17 while the IHT take is up another 22 per cent so far this year. 

Danny Cox, chartered financial planner at Hargreaves Lansdown, said IHT receipts are set to smash records: “The Exchequer’s coffers continue to benefit from the booming housing market and rising asset values, despite the new tax break for the family home.” 

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The 12.5 per cent hike is…

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