The smart choice for self-employed professionals

News

• All News
•  
• General News
• Taxes & Legislation
• Operational Updates

Ask A Question

Title*

Forename*

Surname*

Your Question*

Email Address*

 

National Tax Freedom Day 2013

04.06.13

Last Thursday (30th May) signified the day in which, theoretically, the average UK worker stopped paying the taxman and finally started to pocket their own earnings.

According to the Adam Smith Institute (ASI), Thursday was the 150th day of 2013 – 41.5% of the calendar year, signifying the amount the average UK worker contributes in tax/NI payments. Compare this to Australia and the United States of America, who both 'celebrate' their Tax Freedom Day in mid-April and France who continue paying the taxman until July.

"Tax Freedom Day, which the Adam Smith Institute has been calculating for 25 years, is the plainest way to show what the tax burden really is. That is why the Treasury hates it. They of course want to conceal how much tax we pay, which is why they are so keen on stealth taxes," said ASI Director Dr Eamonn Butler in the organisation's blog.

"But we put in every tax, including stealth taxes – income tax, national insurance, council tax, excise duties, air passenger taxes, fuel and vehicle taxes and all the rest – and show just how long the average person has to work to pay their share of them all. The stark truth is that this burden costs us all 150 days of hard labour every year. That's not how long a rich person has to work – it is the time the average person must labour for the tax collectors."

National Tax Freedom Day 2013 fell a day later than it did in 2012, and three days later than it fell in 2011.

Become a contractor with Consort and enjoy the benefits of self-employment. With Consort, you do not have to worry about running your own limited company; we take care of that for you whilst maintaining your self-employed status. Remember to keep track of your work-related expenses so when you come to complete your self-assessment tax return, you can offset the amount against your gross income to legitimately reduce tax paid.

<< Back to All News