Are You Throwing Your Money Away?

Did you know that the average person in the UK pays 50% of their income to the Government in tax? That’s just the average person’s tax bill – some people pay much more.

Income tax, national insurance, VAT, capital gains tax, inheritance tax, council tax, excise duties, car tax, stamp duty, airport duty, insurance premium tax – the list of ways in which we are "encouraged" to pay money to the Government goes on and on.

Although tax has a massive impact on our standard of living, very few of us do anything to try to reduce the tax we pay or check that we’re not paying over the odds.

We think that tax is too complicated an issue for us to tackle, that a rebate or reduction is unlikely, we’re not wealthy enough to be able to afford specialist assistance or that we don’t have the time to do anything about it.

A recent survey found that because many of us don’t understand tax and don’t take action to check our tax bills, we are making nearly £6 billion of unnecessary tax payments every year and that nine out of ten UK taxpayers are paying too much tax.

That means for every 1000 people who read this article, 900 are throwing their money away.

At Thorntons, our experience is that a half an hour spent with a specialist tax adviser can often help save money and bring much needed peace of mind.

Our team of dedicated tax managers works closely with clients, dealing with all aspects of tax. We are able to offer an annual service, lodging income tax returns, checking assessments, settling sums due and dealing with any reclaims of tax. 

To check whether you’re paying too much tax, why not call us on 01382 229111 or drop in to see us at our offices in Dundee, Perth or Angus for a no obligation chat?