Millions To Receive New Tax Payments Summary

Millions of taxpayers will receive a new annual tax payments summary from this week under a scheme introduced by Chancellor George Osborne.

Some 16 million Pay As You Earn (PAYE) taxpayers will receive the summaries in the post, which set out exactly how much they pay into the Exchequer.

Mr Osborne announced the personalised summaries - which will also set out how taxpayers' money is spent - as part of his 2012 Budget.

The statements will be delivered in the post over the next seven weeks.

Eight million people who complete self-assessment returns will also be able to access their statements online.

Mr Osborne said: "I promised that taxpayers would know much more about how much direct tax they pay and how that money is spent.

"Now we're delivering on that promise by giving 24 million taxpayers a new personal tax summary.

"It is a revolution in transparency and it will show how hard-working taxpayers have to pay for what governments spend."

Labour's Shadow Treasury Minister Shabana Mahmood said: "This Government's record on tax is giving millionaires a huge tax cut while everyone else pays more.

"Families and pensioners are paying more in higher VAT, but that tax isn't part of these statements.

"By next year families will be £974 a year worse off because of tax and benefit changes since 2010."

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