Friday, May 28, 2010

Taxes

A word or two about taxes.  Be sure to research the taxes you'll be required to pay when you live in the UK.  Here are a few of them.  I won't do more than name and briefly describe them because rules and amounts change, but at least you'll have an idea what you're in for:

Television License - Yes, you have to buy a license to watch tv.  Period.  Even if you have just one tv.

Council Tax - based  on value of the property that you live in.  So if you rent, you are NOT excluded.  You pay based on the value of the house you're renting.

Income Tax - Yes, they have it there too.

Road Tax - Based on the engine size and age of your car.  Paid on an annual, or 6-month basis.

VAT (value added tax) - ie sales tax

Capital Gains Tax - for investments

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