Tax basics explained
- How much of your income is taxed, and for what reason
- The government's turn-around on the 10p tax band explained
- How to go about calculating your tax bill – the factors you should take into account
- Full details of tax allowances for the tax year 2008-09
What's in this guide
What taxes you pay
Your tax bill is probably the biggest bill you pay all year – find out where it goes
Allowances
You can earn a certain amount each tax year before paying tax.
Claimable tax reliefs
Certain payments you make can be set against your income to reduce the tax you pay.
How much tax you pay
Income you receive is taxed differently depending on where it comes from.
How to calculate your tax bill
A quick and easy guide to totting up your taxable income
How tax is collected
How you pay tax depends on what type of income it is
Budget changes
Find out how annual tax changes will affect your finances.
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