Taxpayers to part with £4.6bn in 'unnecessary' tax in 2013

Savers will forget to use their full ISA allowances, not make the most of pension tax relief and fail to place life protection policies under trust for the purposes of inheritance tax planning, the study, put together by Unbiased.co.uk and tax software firm TaxCalc, suggested. According to the Tax Action Research report, on average, the UK taxpayer will pay about £153 in unnecessary tax in 2013. Despite this, seven in 10 people (68%) state they haven't done anything recently to tackle their individual tax waste figure. Of the £4.6bn wasted, about 30% comes from unused ISA allowance...