The Adam Smith Institute has calculated that Tax Freedom Day 2014 falls on 28th May.

Read The Daily Mail’s feature on Tax Freedom Day below:

Taxing time in UK

“TODAY is Tax Freedom Day, when millions across Britain stop working for the Government and start working for themselves, according to the Adam Smith Institute.

“The think tank has calculated how much tax the country pays, including VAT and national insurance, as a proportion of the national income – a rate that currently stands at 41.09 p.c.

“This means Tax Freedom Day falls this year on May 28 – three days earlier than last year.

“Adam Smith director Dr Eamonn Butler said: ‘It is still outrageous that the average person in Britain has to work nearly five months of every year soley to pay taxes.”