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Income Tax
Income Tax is a tax you pay on your income there are various Bands dependent upon your income. The more you earn the more you pay (probably)..
You pay tax on things like:
- money you earn from employment
- profits you make if you’re self-employed
- some state benefits
- most pensions, including state pensions, company and personal pensions and retirement annuities
- interest on savings and pensioner bonds
- rental income (unless you’re a live-in landlord and get £4,250 or less)
- benefits you get from your job
- income from a trust
- dividends from company shares
Tax laws are complex. We're here to help you handle it all.
You don’t pay tax on things like:
- income from tax-exempt accounts, like Individual Savings Accounts (ISAs) and National Savings Certificates
- some state benefits
- premium bond or National Lottery wins
- the first £4,250 of rent you get from a lodger in your home
- Most UK residents will get a tax free personal allowance.
Income Tax Rates can be seen here
Gpg Accountants and Business Advisers
We'll provide you with the experienced professionals to handle all your accounting needs.