For many years, I had a ‘difficult’ relationship with paying taxes.
As an employee, I resented that I ‘lost’ so much of my wages to tax each month.
As a self-employed Bookkeeper, I spent so much time working on my clients’ accounts that my own accounts and self-assessment return were put off until the last week of January – creating a week of frantic receipt searches, data entry boredom, and late nights.
And pre 2015 in this business, I hired the wrong Accountants (twice!) who either didn’t file our returns at all (first one) or filed them late (second one).
That combined with my terrible money mindset back then meaning I wasn’t putting aside money for tax each month, I spent nearly 4 years paying off what I owed HMRC.
I’ve done a LOT of work on my money mindset, hired a great Accountant (third time lucky!), and tax is saved each month.
And I now CELEBRATE the tax I pay because I changed the way I look at it.
Nowadays I see paying income tax as a privilege. (Same as paying PayPal and Stripe fees is a privilege too).
It’s a privilege because you only pay income tax (and payment processing fees) when you’ve received multiples more than the payable amount in income for yourself.
Paying income tax is also an opportunity to ‘give back’.
To support others who need help.
I choose to believe that each amount I send to HMRC goes directly to the people who need the help most right now.
Decide that the Government don’t control where your tax money goes, you do.
After all, you get to choose what you believe to be the truth.
We all do.
And finally, when you send your payment to HMRC, see it like a friend jumping in their car with a suitcase of your cash, setting off on a journey to distribute that money to where it’s needed most.
Then, celebrate yourself for your contribution. YAY you!