Under Stress

Over the last few days I have been rather stressed. Why? too much to do and it is taxing.

There are a number of people who want my time, now, not tomorrow, but now.

Then there is the British Inland Revenue, the Tax people who require that non PAYE (Pay As You Earn) tax payers have to submit their self assessment tax returns by the 31st January, else face a fine of £100 and interest to pay on any unpaid tax.

I usually leave my return, working out my income and expenditure, calculating profit and loss, until the very last day, and at 2300 hours, submit by the web my return.

This I needed to complete my self assessment forms early, I did not want to leave it to the last moment. I did it today. But I still went under stress as if it was the last day.

I am curious about how many other British self assessment workers go under the same stress. Is it worth it?

If I had a say in the running of a country’s income strategy, I think I would abolish income tax, and put the tax on purchases. Instead of the British VAT (Value Added Tax) of 17% on purchases, put it up to 25%. Then those that spend pay the tax, encouraging people to save.

The best advantage would be I would not have to fill in the tax return and get under stress this time every year.