Our View of a Fair Tax system Here
The UK is one of the mosy heavily taxed nations on the planet, many think this is not true, but when you add all the hidden, or stealth, taxes, some of which are called “duties”, then you realise that a large percentage of what you earn, ends up in the hands of the state – not a very fair situation in our opinion. We even pay tax when we die!!
So where does all the money Government gets come from? Lets take a look shall we.
2023/24 Public Sector Revenue Receipts
| Income Tax | £277 Billion |
| National Insurance | £180 billion |
| VAT | £170 billion |
| Corporation Tax | £103 Billion |
| Council Tax | £45 billion |
| Capital Taxes | £39 billion |
| Business Rates | £27 billion |
| Fuel Duty | £25 billion |
| Tabacco and Alcohol Duty | £21 billion |
| Other Receipts | £115 billion |
| Other forms of Tax | £95 billion |
| Total | £1,097 billion |
The IFS, an independent think tank, calculated that over 70% of all income tax is paid by 50% of the population, however, data from the House of Common shows that the biggest tax burden is on middle income households.
Income Tax Receipts
| Percentage of tax revenue | Share of total household income | Share of Tax revenue raised | Percentage of indirect, VAT, Duties and VED raised against income |
| 100% | Top 1% - 12.5% | 29.1% | 9% |
| 90% | 90-99th% - 21.2% | 31.2% | 15% |
| 50% | 50th to 90th % - 40.8% | 30.2% | 19% |
| Bottom 50% | Bottom 50% - 25.5% | 9.5% | 28% |
Tables 1 and 2 above, demonstrate how unfair the tax system in the UK actually is. There has always been a clamour for those who earn more to pay more, but when you look at this, the top 1% and bottom 50% actually pay the least, overall, in taxation, direct or otherwise, it is the middle income brackets from 50% to 99% of higher earnings who are paying the largest proportion, of direct and indirect taxation, of any groups. See table 3 below.