The calculation that Monday and Tuesday are ‘lost to the taxman’ is the brainchild of a new pressure group called the TaxPayers’ Alliance, christened the ‘Tax-O-Meter’.
The group also claimed a further 12 minutes would be spent on the taxman’s time by next year.
The idea is the latest bid to provide people with a tangible sense of their contribution in an era of ever more complicated taxation. It follows ‘Tax Freedom Day’, which calculated that people’s tax burden was the equivalent of all their earnings up to 2 June.
Gabriel Stein, a member of the TaxPayers’ Alliance advisory council, said: ‘The Treasury hates Tax Freedom Day because it makes the level of taxation understandable to people without PhDs in Economics. They will also hate the Tax-O-Meter because it will remind hard-working taxpayers every week how high their tax burden is.’
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy