UK adults are set to waste £10 billion in tax this year through poor financial planning, warns Unbiased.co.uk.

According to the professional advice website, just 16 per cent of UK adults feel their tax burden is fair, yet only 19 per cent of the population have taken action to reduce the amount of tax they pay.

More than a quarter of adults expect to pay more tax this year than last, and just one in ten expect their tax burden to ease.  

However the research reveals a widespread sense of “helpless acceptance” and inertia when it comes to our tax burdens, with 60 per cent of consumers admitting they feel powerless to improve their own situation, and 26 per cent believing that the government alone controls how much tax they pay.

David Elms, chief executive of Unbiased.co.uk, says, ‘It's worrying that so many people feel powerless to reduce their tax burden, when there are so many ways to make a difference. The one in four people relying on the chancellor to announce tax cuts should prepare for disappointment given the current state of the economy.   

‘Tax can seem a complex issue, but in the current climate it is more important than ever for people to look after their finances and not pay out more than they should to the taxman. As we have just entered into a new tax year, now is the time to take tax action and review your finances.’