It's 'tax freedom day' today - three days late
Taxpayers have paid off their debt to the government today - three days later than last year, according to Adam Smith Institute
Taxpayers have paid off their debt to the government today - three days later than last year, according to Adam Smith Institute
British tax payers can celebrate the fact that from today they are working for themselves – not the government.
Link: 500,000 more earners now pay income tax
According to figures released by the Adam Smith Institute, today is the day that most UK wage-earners will have worked off their yearly burden of taxation.
However, the sweet taste of freedom may be a little soured by the fact that it comes three days later than the 2004 date of 27 May. The three-day delay (not four, as last year was a leap year) is thanks to Gordon Brown’s March Budget, which increased the average tax bill to around 40% the institute says.
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleHMRC sees the profit or loss made on buying and selling of exchange tokens as within the charge to Capital Gains Tax (CGT). Read More...
View articleThe recent IR35 case involving former Liverpool footballer and Sky Sports presenter, Phil Thompson, has drawn attention to the complexities and implic...
View articleFrom January 1, 2024, HMRC will implement new tax rules affecting individuals who sell items on platforms like Etsy, Depop, and Vinted. The new regula...
View articleHMRC reveal a small majority of people are soldiering a significant proportion of income and capital gains tax, following FOI request. Data has reigni...
View articleSteven Pinhey, technical officer at the Association of Taxation Technicians (ATT), considers how the rules on deductible expenses work in a social med...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleATT technical officer, David Wright, provides an overview of the welcome relaxation to CGT provisions for separating couples looking to transfer asset...
View article