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Ensuring you are paying the correct tax

While there are more than enough websites available to check your tax code and tax rate it seems that more and more people in the UK are paying an incorrect rate of tax for their specific situation. The problem is that if you are under paying tax the authorities would be on your back chasing for any excess but because many people are overpaying tax the government has not been as swift coming forward with the information. Trying to get a tax return from the government is something akin to an adventure!

Many people in the UK will never ever have checked their tax rate and tax code and indeed many would not even be able to tell you what rate of tax they do pay. Despite the warnings in the newspapers and warnings at work, more and more people in UK are too slow to update their tax details and many just avoid the tax office like the plague.

If you are unsure about the rate of tax which you are paying you should consult a professional adviser unless you are experienced enough to check out the Internet yourself. A simple adjustment to your correct tax band could have a significant impact on your short-term and medium-term income at a time when money has never been tighter.

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