Introduction to the UK Tax System: Structure, Principles, and Key Taxes
The UK tax system is a structured framework designed to generate revenue for public services, infrastructure, and government programs. Taxes are levied at national and local levels and are primarily administered by His Majesty’s Revenue and Customs (HMRC). The system includes various forms of taxation, such as income tax, corporate tax, Value Added Tax (VAT), and National Insurance Contributions (NICs).…