For the working man or woman there are many different things that have to be paid for on a regular basis as an accepted part of adult life. When each payday comes around it is a time that everyone looks forward to as all your efforts in the workplace are rewarded with a sum of money that enables you to pay for living expenses and extras if the situation allows for this possibility. Being able to earn a regular wage is a great thing for many reasons but one of the downsides to having this particular status is the fact that you are required to pay tax in a number of ways. These are examples of the way that you pay tax as an individual, as well as the services that those taxes go towards funding.
What do you have to pay?
Income tax is something that everyone seems to be fully aware of and if you are not completely sure what it is then the very first taxable pay cheque that you get will definitely confirm it. The UK government takes a huge amount of income via this method and it is used to fund numerous national services. Council tax is also a necessity for so many people and there are different bands that the place you live in will fall into, determining the amount you are required to pay.
Where does it all go?
The vast majority of taxpayers in the UK are completely aware of some of the things that their tax goes towards paying for. However, there are some people who may not know about some of the other services that are also included in this. The more money you earn the more you are legally required to pay in tax and the lion’s share of this goes towards benefits and pensions. This leads to many people often bemoaning the fact that so much of the working person’s tax is used to fund benefits. The National Health Service (NHS) is also given a significant proportion of your tax and the education sector is just behind this on the list. The UK’s defence is also catered for, although to a significantly less extent, as are the police and the prison service. The maintenance of our roads and railways make up the list of things that our tax is used to pay for and this can often result in significant displeasure when road surfaces are left in a particularly bad state for an extended time period.
Andrew Samuels has looked for a job in the tax industry ever since he left university in 2009. It wasn;t until he came acorss pro-tax.co.uk – tax recruitment specialists – that he found a huge selection of jobs and eventually the one he’d aways wanted