Making Money

S2E9: Where your taxes actually go and why you’ll need to pay more | Director of the IFS Paul Johnson

12.04.2023 - By Kindling MediaPlay

Download our free app to listen on your phone

Download on the App StoreGet it on Google Play

It feels like we pay a lot of tax in the UK but is that really true? Where do our taxes actually go? Are they wasted? And are we going to have to pay more in the future? Paul Johnson is the Director of the insanely well respected Institute for Fiscal Studies and in this episode he explains how we’ve got into this pickle, how we can get out of it - and why our feelings about paying too much tax might not be rooted in reality. 

Get Paul’s book Follow The Money: https://amzn.to/41aOqXa

...

Want us to come into your workplace to help your people get more from their money?

Email [email protected]

Sponsors

Hostinger (build your website) - and use the code MakingMoney to get 10% off: https://www.hostinger.com/makingmoney

Sensate: Get help with your anxiety & 10% off with the code MM10: https://www.getsensate.com/makingmoney

Unbiased: Get help with your money from a financial advisor: https://www.unbiased.co.uk/makingmoney

...

Newsletter

If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S2E9.

What's your financial health? 

Take our quiz: https://makingmoneypod.scoreapp.com/

Investment platforms

Here are some of the biggest investment platforms in the UK - and Damo uses all of them too. 

Some of these are affiliate links. If you purchase a product or service using one of these links, we will receive a small commission from the seller. There will be no additional charge for you.

Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

InvestEngine

Get a £25 bonus when you invest at least £100.

https://investengine.pxf.io/daOD2Q

Vanguard

https://www.vanguardinvestor.co.uk/

This is not an affiliate link.

Trading 212

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

https://www.trading212.com/promocodes/MM 

If you do not get your free share after depositing at least £1, use the promo code ‘MM’ (for Making Money). You can use this code for up to 10 days after opening the account.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

More episodes from Making Money