Welcome to our Tax Glossary. Here you will find clear and comprehensible definitions of most of the tax terms you will face when dealing with UK income tax. This Glossary will help you understand the tax language, however it will not offer direct solutions to your tax issues. If you need further advice on any of those tax terms - just ask a tax adviser and get a free consultation right now!
Letter: L
Liability: The amount of tax that is due from one's income, gains or profits.
Lower Rate Tax: The rate of tax which applies to bank and building society interest. The lower rate of tax is 20%.
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Friday 31 Oct was the deadline day for paper tax r
If you're doing your tax return on paper this year, you should have made sure you sent it to HM Revenue & Customs (HMRC) by Friday, 31 October, or you could face a £100 penalty. From this year, ...
Impending Deadlines
Monthly PAYE/NIC/CIS tax to 5th December due.
