-
Treasury releases free mobile phone app that tells you how your taxes are being spent
A new mobile phone ‘app’ which reveals exactly how your taxes are being spent on welfare and public services has been released by the Treasury today. Using the free tax calculator taxpayers can generate a personalised breakdown of how their taxes are spent by entering their salary. The software has been released ahead of paper versions of the personal tax statements, which are due to be available from 2014/15. A £25,000 earner will discover that they lose nearly £5,500 of their take home pay to tax - some 22p of every pound. They also face a marginal tax rate of 32 per cent for every additional pound earned when national insurance contributions are taken into account....Read more here: Treasury releases free mobile phone app that tells you how your taxes are being spent | This is Money
You must be logged in to post a comment.
- Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.
Tweet
new government internet service allowing people to check how their income tax and national insurance is spent, has struggled on its first day. From about midday the calculator was displaying an error message to some users saying it was unavailable. A spokesman for HM Revenue & Customs (HMRC) said 400,000 people had tried to use the site during the morning. "Our online calculator is extremely busy at this time but a full service is being restored," he said....Read more here: BBC News - Online tax calculator falls over