A windfall tax is a higher tax rate imposed by governments on sudden, unexpected, and significant profits earned by a…
Value Added Tax (VAT) is a consumption tax levied on goods and services at each stage of the supply chain,…
Stamp duty on housing is a tax levied by governments on property transactions. It's typically paid by the buyer when…
Stamp duty on equities is a tax levied on the transfer of shares. It's a crucial aspect of financial markets,…
A regressive tax takes a larger percentage of income from lower-income earners than from higher-income earners. It disproportionately impacts those…
Pay As You Earn (PAYE) is a system for collecting income tax at source. Employers deduct tax from employee wages…
Ordinary residence refers to the place where a person habitually lives, intending to remain indefinitely. It's a key concept in…
Inheritance tax is a levy on assets passed down from a deceased person to their beneficiaries. It's distinct from estate…
Council tax is a local government tax in the UK, payable by households on property. It funds local services like…