Income Tax

Income Tax
An overview of income tax, its calculation, and implications.
Independent Taxation of Spouses
A system of personal taxation in which individuals are taxed separately on their income and capital gains, regardless of marital status and spouse income.
Pay As You Earn (PAYE)
An overview of the UK system for collecting income tax and National Insurance at the source through employers.
PAYE - Pay As You Earn
PAYE (Pay As You Earn) - A taxation system where income tax is deducted directly from a person's earnings or salary.
Schedule A Tax
Schedule A tax was a former section of the UK income tax, levied on the imputed rent of owner-occupied land and houses.
Standard Rate
Definition and meaning of the standard rate in the context of UK income tax
Surtax
An additional income tax levied on high incomes.
Tax Assessment
The determination of the amount of tax any individual or company is liable to pay.
Tax Return
A comprehensive entry on the economic term 'Tax Return,' explaining its definition, implications, and relevance in various economic frameworks.