New Update June 2014

I haven't updated for a couple of months as I have just been ticking along paying taxes so thought I would wait for a while to let the payments build up.

At the latest count my current taxes are up to £9,411.85 which works out at £432 per week.

The largest tax is Income Tax by quite a long way where I have so far paid £4,816.10 (with an additional £1,776 in NI) aside from tax on income my single largest earner from the government is my Car which over the last 5 months has earned them £631.21 in Fuel Duty and VAT.

Mid March Update

Into the third month and big tax payments since last time are: Regular Bills which always add an additional £191.83 per month to my liability, I have also paid £31 in taxes and Stamp Duty on moving my shares from a nominee share dealing account into my ISA and a tax bill of £17.67 from my friends Stag Do - 5 pints and an all you can eat!

So on the 10th March my current tax bill is for £5,658.17

* I have updated Stamp duty field to be Stamp and Excise Duty (As I didn't want to add a whole new column when I very rarely drink.)

Second Pay Day and More Fuel Duty

Had my second pay day of the year and so have made another sizable (£877.22) payment to the government, Along with some more Petrol (£44.31) and fees (£8.75) connected with trying to move some shares into my ISA (which will also incur some Stamp Duty when I can finally get the money in there.

So as of the 26th February I have paid £5,424.05 in taxes which has brought down my Weekly tax bill down to £671.49 a week - Mostly due to the fact that My bonus in January had a distorting effect.

Weekly Update

With another week gone and I had to get Petrol Again so that resulted in another £38.13 to the government (on a £63 transaction) as well as another payment of £191.83 from my recurring monthly bills.

So on the 1st Week of February I have paid to the government £4,399.96

 

I have now also worked on breaking this down across the cost to be a UK citizen for an hour, a day or a week.

 

As you can see every hour I am a UK resident costs me £5.16 per hour.

Almost the End of the Month and another big tax bill

So had another big tax bill due to a roof repair after the recent storms. We called out the insurance company and they did an assessment and decided that although the roof needed to be replaced it was mostly due to age so they would only pay out £400. Unfortunately this didn't even cover the £648 VAT that was payable on the work.

Current cost of Government at the end of January is £4,166.70

Looking a bit different now

So yesterday I blogged about how I had paid £300 in tax in three weeks, giving me an average of (Just under) £100 per week.

Well after getting my pay that figure has now changed to £3,518.37.

New Taxes paid today are:

£2,655.60 in Income Tax (An extra high amount as I get my annual bonus in January)
£499.41 in National Insurance

£1.47 in Stamp Duty from some shares I bought and
£120 in Port Fees for our Holiday we are taking in July.

So now it is around £1026.19 per week.

3 Weeks in and £291.89 paid in Tax

So far I have paid £291.89 in taxes in 2013, Just under £100 per week.

This is all set to change tomorrow however when I get paid and make the largest single contribution to the Governments Coffers.

So after three weeks the various taxes I have paid are broken down as

So Council Tax is still the highest volume at present with £132.00 but followed by VAT at £81.30 and Fuel Duty of £54.95 there is a large increase in VAT due as I am getting some work done on the house which should increase that by £600 as well as paying for a Holiday that we have booked. so I very much doubt this £100 per week level will be anything like how it will look even by the end of this week.

The single biggest taxed item so far is, unsurprisingly, Petrol where so far with £76.35 out of £128 going to the government.