Saturday 5th of March 2011
People in Britain are failing to keep track of their personal finances, it has been claimed.
John Whiting, tax policy director at the Chartered Institute of Taxation, said individuals are showing a wide disinterest in the amount of tax they pay.
It suggests those who are already deep in the red may require IVA answers to help regain some control over their money matters.
The industry figure suggested UK adults may be more interested in watching television than they are about their finances.
He added, in regards to how many people know how much tax they pay: "If you took a poll as to how many people knew the result of Manchester United versus Chelsea … or X Factor … I suspect you might get a higher percentage."
Mr Whiting's comments come in response to recent research from MyVoucherCodes.co.uk, which revealed 57 per cent of Brits do not know what their tax code is or how much cash is taken from their wages each month.
By Neil Burton
