CIOT: Take an interest in tax

The Chartered Institute of Taxation (CIOT) is urging Britons to take "an enlightened interest" in their tax affairs.

John Whiting, of the CIOT, says people should make it their aim to have a thorough understanding of the tax system and take more of an interest in their financial affairs.

"I am not saying you should spend an hour every month checking your tax calculations … But you ought to have a look at your payslip and if something looks odd you can say something," he said.

Mr Whiting adds that people should not feel "daunted" by tax and says that employees should read their payslips and check that their tax code looks correct.

"If there are things there which people don't recognise, then they should follow it up, because that means they are not getting the right amount of tax deducted," he added.

A number of tax changes come into effect next week, including alterations to capital gains tax, inheritance tax and corporation tax.