Introduction to the tax system

This section contains a set of useful introductory guides designed to help you with your tax planning. For advice on procedures such as filing your tax returns, or a list of those all-important tax rates and deadlines, visit the guides of your choice.

An overview of the tax system including self assessment and the taxation of earnings from self employment.

Tax and the company car

Details of how the tax system works with company cars.

Child Tax Credit and Working Tax Credit

These tax credits replaced Working Families' Tax Credit, Disabled Person's Tax Credit and Children's Tax Credit and the child-related elements of Income Support and Jobseeker's Allowance.

Domicile

New rules relating to residence and domicile came into effect on 6 April 2008. The changes were originally announced in October 2007 as part of the Pre Budget report, and in January 2008 draft legislation to implement the main aspects of the changes was released.

An introduction to IR35

For many years, people leaving jobs to become self-employed were advised to instead set up one man companies to provide their services. One reason for this might be the security offered by limited liability, but in many cases the use of a 'personal service company' was to create the opportunity for some quite substantial savings, particularly of national insurance contributions (NIC's).

Key dates and deadlines

This is a summary of the key filing and payment dates.

An introduction to self assessment

It is a fundamental part of the self assessment system that responsibility lies with you, the taxpayer, to file Tax Returns and pay the right amount of tax, at the right time - you must not wait for the HM Revenue & Customs to ask.

Stamp taxes

Details of the rates and types of stamp taxes.

The tax system for partnerships

If you form a partnership to carry on a business, you must register it separately with HM Revenue & Customs even if the partners have previously been self employed. If the partners are new to business, they must also register individually. Partnerships are registered with a special HM Revenue & Customs partnership team, based at Longbenton near Newcastle.

The tax system for the self employed

If you start working for yourself, you must register with HM Revenue & Customs within the first three full months of self employment.