Tax
As levels of taxation vary, visit the Inland revenue site at www.inlandrevenue.gov.uk/rates/index.htm for up to date levels.
We have also included information on the current tax free savings limits and what to do if you are a non taxpayer. For specific tax information about different types of saving and investments please speak to an Independent Financial Adviser (IFA).
You'll find details of your local IFA in the Yellow pages (www.yell.co.uk), or visit http://www.ivillage.co.uk
Click on the following links to find out about the main types of tax you may have to pay, and other information:
- Income tax
- Capital gains tax (CGT)
- Stamp duty
- Inheritance tax
- Tax free savings limits
- Information for non-taxpayers
Income tax
Income tax is a tax which is payable on any money you receive - like your wage, pension or any income you get from any savings and investments (unless you save or invest through a tax-free savings product like an Individual Savings Account (ISA) or the tax free products offered by National Savings and Investments.
The rate of income tax that you pay is tiered and depends on what you earn. For up to date tax levels, visit www.inlandrevenue.gov.uk/rates/index.htm.
Capital gains tax (CGT)
This tax is payable on any gains you make when you sell assets, like shares or a second home.
Everyone has a minimum amount of money they can make from these types of assets before you have to pay capital gains tax, and some assets are exempt. For up to date tax levels, visit www.inlandrevenue.gov.uk/rates/index.htm.
Stamp duty
Stamp duty is a tax that you have to pay when you buy a house, or when you are buying stocks or shares.
This is paid at the time of purchase, for example, when you buy shares or a house. For current stamp duty limits visit www.inlandrevenue.gov.uk/rates/index.htm.
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iVillage Ltd is a UK company registered in England & Wales (3837269) at 80-110 New Oxford Street, London WC1 1HB
