Income Tax
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(IT).
1.
A UK tax charged on most sources of income, attributed to an individual in a given fiscal year.
UK personal Income Tax covers non-savings income, savings income and dividend income.
2.
More generally, a tax on individual or corporate income.
For example US Federal Income Tax.
See also
- Capital allowances
- Charge on income
- Chargeable income
- Corporation Tax
- Direct tax
- Dividend
- Exempt income
- Fiscal year
- His Majesty's Revenue & Customs (HMRC)
- IAS 12
- Imputation system
- Indirect tax
- Inheritance tax
- Internal Revenue Service (IRS)
- IR35
- National Insurance
- Pay as you earn
- Personal allowance
- Sales Tax
- Tax
- Wealth tax
