Taxes: a guide for beginners

Dealing with taxes can be, well, taxing… especially if you’re self-employed or need to file your own tax return. On this page you will find helpful resources covering all things tax, answering questions such as “how do we benefit from paying taxes?”, “how do taxes work?” and “what happens if I don’t pay my taxes?”. From explaining income tax to how you can gift money to children, we’ve covered all bases when it comes to tax.

Get to grips with the different kinds of tax, including how taxes work, what taxes everyone must pay, the benefits of taxes, the purpose of taxation and what might happen if you don’t pay your taxes. We also explore specific types of tax, such as inheritance tax, progressive vs regressive tax, indirect tax and capital gains tax on UK property.

Crucial for sub-contractors and the self-employed, we explain who exactly needs to file their own tax return, how to do it and when the tax return deadline is in the UK.

Can you get money back on taxes? The answer is yes, as you might be able to claim tax relief. Many people aren’t aware of the tax relief they are entitled to, so we’ve taken a look at general tax relief as well as pension tax relief and working from home tax relief. 

If you’re thinking about providing financially for your children and grandchildren’s future, it’s important to be aware of the tax implications when gifting money. In this section, you’ll find out exactly how to gift money and how to stay on the right side of tax laws.