Clarity fo the general public about what is taxed, why it is taxed and what it is supposed to pay for.
I'm sick of uncovering time and time again tax upon tax upon tax. I work hard, I have a good job, I've not been given this, I work as a minimum 6 days a week, if you took my gross salary and told someone what I earned, you would get wow thats a lot, if you took my gross salary and divided by the hours I actually work I probably earn just above minimum wage… but it doesnt feel like I get the rewards of my endeavours.
1. I get paid, income tax and National Health Insurance are deducted at source, I have no say in this
Both are calculated against my Gross Earnings and both are uncapped, even though once the first one has been calculated, the 2nd takes from money I just don't have. First Case of Tax Margin Stacking.
I Own a house, I have the occasional Drink, I drive a car, I smoke
2. I pay council tax on my house, I pay an alcholol tax on every drink I have, I pay fuel tax on every litre of fuel I use, I pay tobacco tax on every cigarette I smoke, all from previously taxed money i have left
3. On top of this I pay VAT on pretty much everything I purchase including the associated tax…
A conservative estimate of what I pay in taxes of various kinds v my gross salary I would suggest in the 70-73% of my gross earnings. Hardly rewarding is it….
So what's my beef, I work hard yet each month i barely break even and its down to the fact that I pay tax upon tax upon tax, over the years the government has introduced taxes this way to the point its virtually impossible to work out where I'm being taxed (and I think I'm relatively smart)
The whole taxation system needs an overhaul and return to basics, so that every individual can fully understand what they are paying and why.
In my line of business I use the following term when describing something that is fundementally broken "this has exceeded its design intent" I would suggest that the tax regime in the uk has exceeded its design intent and needs a major overhaul, features of which should remove tax margin stacking.