How cash savers could be making moves to protect themselves from tax

The UK taxpayer is paying more tax, there's no escaping that fact. As a percentage of GDP, we're now paying the highest proportion of tax since the 1980s. In total last tax year, we paid £1.1trn in tax, which equates to about 40% of GDP. To frame that, in the 1991/00 tax year receipts clocked in at just under 36% of GDP and just before the pandemic they stood at 36.9%. So, anything that means people are saving on tax is something that should be celebrated. And I have just that – a rare, good news story, where consumer action has reduced tax bills (legitimately, I should add). ...