Daily Mail tax guide 2007/2008 - Jane Vass

Some 31 million people in the UK now pay income tax - more than 110 billion in total - and the number paying higher-rate tax has increased by nearly a half in just five years. Everyone wants to pay as little tax as possible and no-one wants to run into trouble with the tax man - a risk that the 9 million who complete self-assessment tax returns run every year if they fill things in wrongly or send their return in late. Fines for late or incorrect returns run at over 2 million a year, and the tax man is getting stricter in enforcing the rules. Under Gordon Brown the tax system has become increasingly complicated, with many new changes every year, and there have been huge problems with the tax credit system he introduced. Without help it's difficult to keep up - and where tax is concerned, it pays to be on top of your affairs. This leading, well-established guide, written in clear, non-technical and jargon-free English enables you to do just that by:* Providing a complete run down on how the tax system works* Advising on how to plan your tax affairs efficiently* Outlining all the latest budget changes and their effects* Showing you how to fill in your tax return* Giving you 120 tax-planning and tax-saving hints