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An Introduction to UK Taxes

An Introduction to UK Taxes Taxes are set by the government as a way of funding the country's many public services; including the National Health Service, public transport services and the State Pension scheme, as well as the government itself. Tax administration is managed in the UK by Her Majesty's Revenue and Customs (HMRC). More info

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Property Taxes

If you own property in the UK, there are various taxes that you may be required to pay. It's important to fully understand your tax responsibilities if you own or rent a property, as you can be fined for failing to pay the right amount. Find out more about the various types of property tax below.

Employment Taxes

If you are employed or self-employed in the UK, you need to be aware of the taxes and National Insurance contributions that you are eligible for. Find out more information about both Income Tax and National Insurance on the SimplyFinance.co.uk website.

Value Added Tax

Value Added Tax, more commonly known as VAT, is a tax that you have to pay when you purchase goods or services within the European Union, including the UK. When you are charged VAT, for example when you buy an item in a shop, you will usually not notice this as it will have been factored into the total price of the item on the price tag.

Inheritance Tax

Inheritance Tax is usually paid on someone's estate (that is, the total value of their property and other assets) when they die. It is also sometimes payable on valuable gifts made during the person's lifetime, or on trusts that they set up.