Brits work 129 days to cover tax

12/05/2009

The average Brit needs to work 129 days just to cover the cost of tax, shocking new figures have revealed.

National Insurance, Income Tax and the duty on tobacco, alcohol and fuel all contribute to the average person's growing tax bill.

The average Income Tax bill equates to 52 days' wages, while paying off the average annual VAT fee would take 22 days of hard work, The Co-Operative has said.

It would take 16 days to pay off National Insurance, with a further 12 days work needed to clear the annual Council Tax bill.

In total, Brits must spend a third of the year working just to cover the cost of tax.

Zack Hocking, head of ISAs at The Co-operative Investments, said: "The saying goes that few things in life are certain but death and taxes.

"But it might surprise people to learn just how much time they have to work to pay off all their taxes."

Tags; Housing Debt and Bills,

• Share
• 
• 
• Store
• 
• Follow
•