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UK taxpayers 'free to manage debts'

UK taxpayers 'free to manage debts'

- Friday, 15 May 2009

UK debt management efforts became free of the burden of tax yesterday, according to unbiased.co.uk.

The website of the Association of Independent Financial Advisers explains that May 14th marks the date until which UK employees were working solely for the benefit of the tax man.

David Elms, chief executive of unbiased.co.uk, comments: "This day is likely to fall much later in years to come as the government seeks to repair the public finances on the other side of this recession."

Such a deadline was calculated by the Adam Smith Institute based on the hypothetical notion that Britons might save every penny from the start of January 1st towards their tax bill before addressing other areas of expenditure.

However, the demands are still not over, as other areas could still impact on the money available to UK debt management efforts.

The Institute explains that, by factoring in government deficits, Tax Freedom Day is set back as far as June 25th - meaning the year could be almost halfway through before Britons are free to manage debts.ADNFCR-2300-ID-19170999-ADNFCR
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