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Income Tax Allowances & Relief
Taxes explained :-
Aggregates Levy
Aggregates Levy is a tax on the commercial exploitation in the UK of rock, sand and gravel
Air Passenger Duty
APD is an excise duty which is due on chargeable passengers being carried from a UK airport on chargeable aircraft
Annual Tax on Enveloped Dwellings
Previously Annual Residential Property Tax, ATED is a tax payable by companies that own high value residential property
Climate Change Levy
CCL is a tax on the taxable supply of specified energy products (taxable commodities) for use as fuels that is for lighting, heating and power, by business consumers in industr,y commerce, agriculture, public administration and other services. CCL does not apply to taxable commodities supplied for use by domestic consumers or to charities for non-business use
Capital Gains Tax
Capital Gains Tax is a tax on the profit or gain you make when you sell or ‘dispose of’ an asset
A tax levied on households by local authorities, based on the estimated value of the property and the number of people living in it
Corporation Tax
Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies
Excise & Other Duties
Excise Duty is a tax on certain goods such as alcohol, tobacco, oil and betting
Inheritance Tax
Inheritance Tax is usually paid on an estate when somebody dies. It is also sometimes
payable on trusts or gifts made during someone’s lifetime
Insurance Premium Tax
Insurance Premium Tax is a tax on general insurance premiums
Income Tax
Income Tax is a tax on income. Not all income is taxable and you are only taxed on ‘taxable income’ above a certain level
Landfill Tax
Landfill Tax is a tax on the disposal of waste. It aims to encourage waste producers to produce less waste and recover more value from waste, for example through recycling or composting, and to use more environmentally – friendly methods of waste disposal
National Insurance
You pay National Insurance contributions to build up your entitlement to certain state benefits, including the State Pension. The contributions you pay depend on how much you earn and whether you’re employed or self-employed. You stop paying National Insurance contributions when you reach State Pension age
Stamp Duty
You pay Stamp Duty when you buy shares using a stock transfer form, on some transfers of interest in partnerships, and on land or property transactions entered into before 1 December 2003
Stamp Duty Land Tax
Stamp Duty Land Tax is usually payable when you buy or lease land or property. It is also sometimes payable on transfers of ownership of property or land
Stamp Duty Reserve Tax
Stamp Duty Reserve Tax is a tax on shares and securities when you buy through the stock market or a stock broker
Value Added Tax
VAT is a tax that is charged on most goods and services that VAT-registered businesses provide in the UK. It is also charged on goods and some services that are imported from countries outside the European Union (EU), and brought into the UK from other EU countries. VAT is charged when a VAT-registered business sells to either another business or to a non-business customer
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