This document summarizes different types of taxes in the United Kingdom, including direct and indirect taxes. Direct taxes include income tax, corporation tax, inheritance tax, and capital gains tax. Indirect taxes include value added tax (VAT), stamp duty, stamp duty land tax, and customs duty. It provides brief definitions and details for each of these taxes.

3. Local councils collect a tax
called
business rates from businesses
and
council tax from households.

4. The largest source of revenue for
the UK government is
personal income tax.
The second largest source are
national insurance contributions,
the third value added tax (VAT) and
the fourth largest is corporation tax.

5. In the United Kingdom as in Italy
We have two kinds of taxes:
- DIRECT TAXES
- INDIRECT TAXES

6. DIRECT TAXES INCLUDE:
•Income tax
•Corporation tax
•Inheritance tax
•Capital gains tax

7. INDIRECT TAXES INCLUDE:
•Value added tax– V.A.T.
•Stamp duty
•Stamp duty land tax
•Customs duty

8. INCOME TAX
A tax on the income of a person or business

9. CORPORATION TAX
Corporation tax is a corporate
tax levied in the United
Kingdom on the profits made
by companies and on the
profits of permanent
establishments of non-UK
resident companies and
associations that trade in
the European Union.

10. INHERITANCE TAX
An inheritance tax is a tax paid by a
person who inherits money or property or
a levy on the estate (money and property)
of a person who has died.
In the United
Kingdom, Inheritance
Tax is a transfer tax. It was
introduced with effect
from 18 March 1986
replacing Capital Transfer
Tax.

11. CAPITAL GAINS TAX
A capital gains tax is a type of
tax levied on capital
gains incurred by individuals and
corporations. Capital gains are
the profits that an investor
realizes when he or she sells
the capital asset for a price that
is higher than the purchase
price.

12. VALUE ADDED TAX

13. STAMP DUTY
In the United Kingdom, stamp
duty is a form of tax charged on
instruments (that is, written
documents), and historically
required a physical stamp to be
attached to or impressed upon
the instrument in question. The
more modern versions of the tax
no longer require a physical
stamp.

14. STAMP DUTY LAND TAX
You must pay Stamp Duty Land
Tax (SDLT)
if you buy a property or land over
a certain price in England,
Wales and Northern Ireland.
The current SDLT threshold is
£125,000 for residential properties
and £150,000 for non-residential
land and properties.
SDLT no longer applies in
Scotland.
Instead you pay Land and
Buildings Transaction Tax
when you buy a property.

15. CUSTOMS DUTY
A tax levied on imports (and,
sometimes, on exports) by
the customs authorities of
a country to raise state revenue,
and/or to
protect domestic industries from more
efficient or
predatory competitors from abroad.
Customs duty is based generally on
the value of goods or upon
the weight, dimensions, or some
other criteria of the item (such as the
size of the engine, in case
of automobiles).