Where Your Tax Is Spent Calculator
Published / Last Updated on 27/05/2012
Where Your Tax Is Spent Calculator.
As part of their drive to improve the transparency of government finances, the government has launched an online service that allows people to check how their income tax and national insurance are spent.
The system does not include VAT or recent changes to tax credits or child benefits. The service will be available via apps downloaded to smartphones and on the HM Revenue & Customs (HMRC) website.
In 2011, the Treasury announced that from 2014-15 every taxpayer would be sent a printed statement showing exactly how much tax and national insurance they had paid and how it had been spent. The spending will be broken down by categories such as health, welfare, education, defence and the repayment of government debt.
At the time of writing, the calculator was down, we assume inundated with people wanting to know where there money is spent.