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Too much tax

 
 
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paul
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PostPosted: Wed Mar 03, 2004 4:28 pm    Post subject: Too much tax Reply with quote

Nine out of ten adults pay too much tax and could save on average 132 a year by sorting out their finances, it has emerged.

Researchers say 3.7bn a year extra is going into Chancellor Gordon Brown's coffers because people are not taking full advantage of tax breaks and tax-efficient savings schemes.

At the same time, 2bn of tax credits are going unclaimed... Shocked

More on this at http://www.thisismoney.com/20040303/nm75168.html

Paul
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trev
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PostPosted: Mon Mar 08, 2004 3:08 pm    Post subject: Reply with quote

Trouble is it would cost more than 132 to have an accountant save you that money in many cases and I'd only go and spend it so another 17.5% of it would go straight back into the government purse anyway... Smile

I do worry about sites and reports which state:
Quote:
They believe many taxpayers do not check how much they should be paying and the system works to the advantage of the Inland Revenue.


Erm, and they've just realised this?? Very Happy


In reality however, although you could save the 132, this would just mean there'd be a 3 billion blackhole in the finances and therefore they'd have to put up taxes to pay for it so your 132 disappears in tax again.

Admittidly it would be nice if they'd actually spend the money properly especially at more local levels.

Trev
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