The Taxman Taketh

The Scotsman has published some interesting figures on the amount of tax that families can expect to pay in their lifetime.

The research report by AXA used figures from the Office for National Statistics, and showed that households on an average income of around £30,000 would pay £603,000 in tax, whilst a household with two earners aged under 30 with a combined income of just under £48,000 a year would pay £1 million tax during their lifetimes.

These figures just go to show the amount of tax we are all liable to, whether we are high earners or not. The article goes into more detail about the tax burden that we all face, and one astonishing quote from an accountant suggests that “tax has gone up 50% in real terms in the last decade”.

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