This a tax on people’s income. The basic rate of income tax is 20%, paid on income over the income tax threshold of £12,570 (tax year 2024-2025). Read more
Another type of income tax is national insurance contributions, which are based on a similar principle of taking a certain percentage of income. Read more
If you are working in construction industry, your contractor/client must deduct this tax from your gross income and will pay you after this deduction. Read more
If you have capital gains or dividends, you need to pay tax on the income and to know more about tax rates click here
