The following related information and links are all about UK basic taxation, National Insurance etc.
Income Tax is a tax on income. Not all income is taxable and you're only taxed on 'taxable income' above a certain level. Even then, there are other reliefs and allowances that can reduce your Income Tax bill - and in some cases mean you've no tax to pay.
Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies. This guide gives you a basic overview of Corporation Tax. It tells you what Corporation Tax is, who's liable and what you must do and when if you are subject to Corporation Tax requirements. It outlines how the tax is calculated and what the tax rates are.
Capital allowances are a tax relief designed to allow the cost of some of your company or organisation's assets to be written off against its taxable profits. They take the place of the depreciation shown in the financial (commercial) accounts, which isn't allowable for Corporation Tax purposes.
Value Added Tax (VAT) is a tax that's charged on most goods and services that VAT-registered businesses provide in the UK. It's 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.
National insurance is a scheme where people in work make payments towards benefits. The payments are called national insurance contributions and certain benefits are only payable if you meet the national insurance contribution conditions. National insurance contributions also go towards the costs of the National Health Service. The national insurance scheme is administered by HM Revenue and Customs (HMRC).
If you claim a benefit or tax credit, you will need a national insurance number. This applies even if it is not a benefit which depends on national insurance contributions. You will also need to supply your national insurance number in other circumstances, for example, when you get a new job.
Key Dates and deadline for submission of various returns to HMRC.
