Paying Income Tax
Usually your Income Tax (see Income Tax) will be deducted from your earnings and savings automatically and you will not have to worry about paying your taxes. When you begin receiving your State Pension, see The Basic State Pension, you ought to inform your local tax office, since State Pension is paid without tax deducted. You may be entitled to reclaim tax if you have a low income, or be required to pay more tax if you have a high income. If you are self employed you must ensure that you pay your taxes or you could face prosecution.
You will usually need to fill in a tax return so that the tax service can calculate how much tax you should pay. You should be sent these documents automatically; fill in the documents and send them back before the deadline, enclosing any specific certificates or invoices that have been requested. If you have questions about your taxes or wish to know how to begin paying them or how to fill out your tax return, you can contact your local tax office, or telephone Her Majesty’s Revenues and Customs on 0845 9000 444 for assistance via their helpline.
- Insurance
- Financing
- Investment
- Pensions
- Planning for Retirement
- State Pensions
- Non-State Pensions
- Pension Protection
- Service






