Sell my phone: New mobile tax and spending calculator launched

28/05/2012

Sell My Phone: New Mobile Tax And Spending Calculator Launched

The government has launched an online service allowing people to check how their income tax and national insurance is spent.

Ministers believe the new initiative, which can be downloaded on mobile phones, is the next step in making government finances and spending more transparent.

Last year the Treasury announced that from 2014-15, every taxpayer would receive a printed statement showing how much tax had been paid and the amount that had been spent by the government.

Spending will be divvied up into different categories such as welfare, health, education, defence and the repayment of government debt.

Exchequer secretary to the Treasury David Gauke said it is only right that people are aware of how much tax they pay and exactly what the government spends it on.

"Our new tax calculator will allow them to find out, which is a big step towards a more transparent, twenty-first century system," he added.

Posted by Claire Marshall

Recycle phone now