Taxes

[Kathyan]

There's just been an ad on TV for wateraid and they said that if you donate £3 per month the Government will double your donation for the first month at 'no extra cost to you'. Which made me comment to my husband that the Government don't have any money of their own, it's actually taxpayers' money. Which then got me thinking where does the money that they collect in taxes actually go, by that I mean does it go into an actual bank account and if so does it earn interest?

[Old_Geezer]

I would hope some is easily available for immediate access and the rest invested.

[ABerrant]

https://en.wikipedia.org/wiki/Consolidated_Fund

[Peter Pedant]

think overdrawn account
dja get interest on that or do THEY levy interest ?

( erm National Debt )

Dear Mr Brown - you know the one who singlehandedly wrecked the pensions industry - pioneered current year accounting and real-time-information -
So I have just paid the balancing amount for the year ending 4 April 17 - and half of that again ( 'on account' ) so that the balancing amount due Jan 19 will be close to nil

good huh ?

[Peter Pedant]

// I would hope some is easily available for immediate access and the rest invested.//

jesus are you for real ?

road tax - isnt spent on roads ( = hypothecated tax )
n inheritance tax isnt spent on poor widows
it all goes into one pot - consolidated fund
and there is NEVER anything left over ( - more national debt)

[ I was "national tresor" of a national body levying subscriptions from 2004, and in 2017 I was gratified to read the current treasurer: "no one in this organisation can remember a time when it ran a deficit ...." )

[Old_Geezer]

What tax is used for and whether it is in one pot or many, has nothing to do with it. Public funds are still public funds. And any person or organisation or government needs cash for day to day cash flows and something doing more long term.