Introducing the UK Tax System
The UK Government charges tax to individuals and to organizations so that it can cover all of the state expenses set out in the Chancellor's annual budget such as education, crime prevention, defence and the NHS as well as less regular investments in events such as the London 2012 Olympics.
The are a multitude of taxes charged, but only a handful may apply to you or to your company. The most common tax is Income Tax, which is charged on any taxable income that you may receive including.
Other common taxes charged in the UK include;
Tax codes will determine how much tax is deducted by an employer on any salary paid.
You may entitled to a Personal Allowance of Income before tax is deducted, particularly if you are on a low income, or over the age of 65. In September 2008, new personal allowances are to be introduced.
THE DIRECT ADVICE TAX GUIDE
Taxes for Individuals
Income Tax - National Insurance - Stamp Duty - Inheritance Tax
Taxes for Businesses