Taxation in the United Kingdom/Introduction
Aim of the Book
[edit | edit source]This wiki book aims to give a general overview of taxation in the United Kingdom.
Different types of taxes
[edit | edit source]Taxation in the United Kingdom is levied in a number of ways:
Direct Taxes
[edit | edit source]These are levied directly upon the taxpayer and are generally taken from the taxpayer's income.
- Income tax
- Capital gains tax
- Corporation tax
- National insurance
- Stamp taxes
- Council tax
- Inheritance tax
- Business rates
Indirect Taxes
[edit | edit source]These are collected through an intermediary such as a reseller and are generally a tax upon consumption.
- Value added tax
- Levies on specific goods (alcohol, hydrocarbons, tobacco, etc)
- Insurance premium tax
- Petroleum revenue tax
- Aggregates levy