2007-07-06 04:31:51 · 5 answers · asked by Alexander J 2 in Business & Finance ➔ Taxes ➔ United Kingdom
Yes, you pay both, but the amount depends on whether you are an employee, sole trader or a limited company, and how much yuo earn.
2007-07-06 04:35:28 · answer #1 · answered by Marky 6 · 0⤊ 0⤋
Your question is very vauge. Where do you live, what is your income from, how much is it, etc etc. If you live in the UK all income derived within the UK is taxed in some form unless an exemption or an allowance exists. You would need to provide further information for a proper answer to your question. The legislation that taxes income is ITEPA for income.
2007-07-06 04:58:58 · answer #2 · answered by Debs 3 · 0⤊ 0⤋
Wow! Tax Kooks in the UK as well! LOL! Silly me thinking that that was uniquely American.
2007-07-06 04:52:04 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
For individuals the legislation is ITTOIA 2005 / ITEPA 2003.
2007-07-06 04:36:50 · answer #4 · answered by notmarriednochildren 4 · 0⤊ 0⤋
Yes, but remember that to take something without the owners permission is theft. Therefore if the government takes your money without asking first the government is stealing from you. All tax is theft.
2007-07-06 04:48:46 · answer #5 · answered by deadrat 4 · 1⤊ 3⤋