UK Money News
26th March 2008
Records sums to be wasted in tax this year
Britons will waste records sums in tax this year through not taking full advantage of tax allowances, it has been predicted.
According to the TaxAction report conducted by Unbiased.co.uk, the total sum set to wasted in 2008 stands at £9.3 billion.
This equates to an extra £1.4 billion more being wasted compared with last year.
In order to reduce individual tax burdens Unbiased.co.uk is offering the following advice.
Responding to the findings, Unbiased.co.uk has issued a set of tips to enable consumers to avoid being stung by the taxman.
These include taking full advantage of your independent savings account allowance, claiming tax credits and making sure that self-assessment tax forms arrive on time.
David Elms, chief executive of Unbiased.co.uk, said: "Our TaxAction report is now in its 16th year but the message remains the same - UK taxpayers are wasting record sums in unnecessary tax payments.
"We estimate that each UK tax payer will waste an average of over £290 in tax payments this year."
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