Average family works 19 years just to pay tax

 

New research has found that families face a bill of more than £730,000 in direct and indirect taxes over their lifetime. The data shows that the household pays more than £250,000 in income tax, £146,775 in VAT, £92,795 in NICs and £59,955 in council tax over 55 years. According to the research, conducted by the Taxpayers’ Alliance, in total families will each pay an average £734,240 in taxes, up 2.3% from last year. This is equivalent to the total income of an average household over 19 years. The figures are based on current taxes applied over a working lifetime of 40 years and 15 years of retirement report Harris & Co chartered accountants Northampton