Taxation in the United Kingdom

Taxation in the United Kingdom is the system through which the government funds public services like healthcare, education, and infrastructure. Individuals and businesses are required to pay various taxes, such as Income Tax on earnings, Value Added Tax (VAT) on goods and services, and Corporation Tax on company profits. These taxes are collected by HM Revenue & Customs (HMRC). The amount paid depends on income level, business profits, and consumption. The tax system aims to distribute resources fairly, support economic stability, and provide essential services to society.