Do you know how much tax you pay? If the answer is no, don’t worry – you’re not alone. According to research by Hargreaves Lansdown, only 48% of us know how much tax we pay! So, if you don’t know what your tax bill is, then here’s how to find out.
What taxes do you pay?
According to Hargreaves Lansdown’s research, low earners are less likely to know how much tax they’re paying. The problem? There’s a chance you’re paying too much tax! So, to make sure you’re on track, here’s a breakdown of the tax you might pay.
Income Tax is simply a tax you pay on, well, your income!
Whether it’s your annual salary or other forms of income, everything you earn is subject to tax. That said, everyone has a personal allowance, which is an amount of money you can earn before paying … Read more