What is Income Tax ?
Our Basic Guide to UK Income Tax
is the main UK tax for individual people, including Self-Employed Sole Traders
The UK Income Tax Year
runs from 6th April in one year to 5th April
in the next year.
What Income is Taxed by Income Tax ?
These are the main areas of personal income which are taxed as Income Tax:
• Salaries and Wages for people who are Employed, paid by PAYE
businesses, paid under Self Assessment
• Interest on Savings
• Property Rental Income
• Income from a Trust
If you have a variety of sources of income, you will probably need to file a Self Assessment
tax return to HMRC
, either on paper by 31st October, or online by 31st January, following the previous 5th April.
GOV.UK and HMRC Links
GOV.UK : Income Tax
Self Assessment Check