UK Tax Rates – An Overview
The UK tax system is complex, with various taxes and tax rates applicable to different types of income. Understanding the different types of taxes and their associated rates can be daunting, so it’s important to have a basic understanding of the UK’s tax system. This article provides an overview of the various tax rates that apply in the UK and how they are calculated.

Income Tax Rates
Income tax is the most common form of taxation in the UK and is calculated based on an individual’s total income. There are three different income tax rates that apply in the UK: the basic rate, the higher rate and the additional rate. The basic rate is currently 20%, the higher rate is 40% and the additional rate is 45%.

Capital Gains Tax Rates
Capital gains tax is a tax on the profits made from the sale of certain assets, such as shares or property. The capital gains tax rate in the UK is currently 20%, but certain individuals may be eligible for a reduced rate of 10%.

Corporation Tax Rates
Corporation tax is a tax on the profits made by limited companies and other organisations. The corporation tax rate in the UK is currently 19%, but certain organisations may be eligible for a reduced rate of 17%.

Inheritance Tax Rates
Inheritance tax is a tax on the value of an estate when an individual dies. The inheritance tax rate in the UK is currently 40%, but certain individuals may be eligible for a reduced rate of 36%.

Stamp Duty Land Tax Rates
Stamp duty land tax is a tax on the purchase of certain properties in the UK. The stamp duty land tax rate in the UK is currently 3%, but certain individuals may be eligible for a reduced rate of 1%.

VAT Rates
Value added tax (VAT) is a tax on the sale of goods and services in the UK. The standard VAT rate in the UK is currently 20%, but certain items may be eligible for a reduced rate of 5%.

Understanding UK Tax Rates
Tax rates in the UK can be confusing, but having a basic understanding of the different types of taxes and their associated rates can help ensure that you are paying the correct amount of tax. This article provides an overview of the various tax rates that apply in the UK and how they are calculated.

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