TaxPersonal TaxIt’s ‘tax freedom day’ today – three days late

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

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.

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