Where does all the money that we pay in taxes go to? This chart will tell you.
Tag: Tax
VAT To Be Cut?
The Government is to announce its pre-Budget report on Monday, and there are some suggestions that VAT (Value Added Tax) may be cut by the Chancellor, in a bid to get people spending again.
Money Saving Expert Fined
Woops, Martin Lewis has forgotten to file his tax return, and has received a £100 fine.
How Will You Spend Your £60 Tax Rebate?
Ok, so it’s hardly a massive windfall, but this month millions of us will be getting a £60 tax rebate in our pay packets, thanks to the mess the Government got into earlier in the year. It certainly won’t break the bank, but it’s always nice to get something back from the taxman. The question […]
Stamp Duty Confusion Affects 83% Of Movers
A couple of weeks ago Alistair Darling appeared to suggest there may be plans afoot to change the way stamp duty was charged, causing widespread uncertainty in the housing market as people waited for confirmation.
Fed Up With High Petrol Prices? Go Live In Venezuela
Here in the U.K. we’re hearing more and more complaints about the high and rising price of petrol, and with the recent rise in oil prices, it’s something that likely to get worse. There’s an interesting page on Wikipedia which shows the relative price of petrol (or gasoline) in countries around the world, and highlights […]
Tax Changes: The Aftermath
The tax u-turn made by the Chancellor yesterday caused the expected reaction of both pleasure from those out to receive £120 back from the tax man and outrage from the 150,000 people now expected to slip into the higher rate of tax. Despite the feel good announcements made by the Prime Minister today, focusing on […]
Basic Rate Taxpayers Get £120 Back From Tax Man
Woohoo! Basic rate tax payers are to get £120 back from the tax man. Following the government’s terrible decision to scrap the 10p tax band, they’ve decided to bribe compensate those of us who pay 22% tax by altering the tax allowance rate. The money will be paid as a £60 payment in your pay […]
New Tax Rules: How Much Tax Will You Pay?
UPDATE 24th November 2008: If you’re looking for information on the latest changes to tax rates announced today, please see our post on the pre-Budget report key points. Last year, in How Much Tax Will I Pay?, I wrote about SimplePound’s useful Excel spreadsheet which helped calculate how much Income Tax and National Insurance you’ll […]
Happy New Tax Year!
I hope you’ve had a great New Tax Year’s Day! What makes today so special? Well, you now have a brand new ISA allowance to play with – and this year the government has generously increased the maximum amount you can pay into your ISA to a whopping £7,200, yes, that’s a massive £200 more […]