Family finances:
Overview of the UK personal tax system
There is no getting away from the fact that the UK tax system is complex. Successive Parliaments have tried to simplify the legislation but all too frequently this just adds another layer on top of the previous rules.
For individuals the tax year runs from 6 April to the following 5 April. For companies the tax year runs from 1 April to the following 31 March.
The UK tax system encompasses the following taxes:
Within Overview of the UK personal tax system...
- National insurance
- Income tax
- Capital gains tax
- Inheritance tax
- Stamp duty
- VAT
- Corporation tax
- Miscellaneous taxes
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Where next?
Within Family finances
- Managing your paperwork
- Managing your money
- Self assessment and tax returns
- Caring for elderly relatives
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