Your guide to tax and what it all means
Ok, so you’ve come to this section to find out about tax, unless you’ve arrived here by accident, in which case why not stick around. Tax will affect you at some point, it’d be good if you understood a bit about it.
Did you know the Prince of Wales pays income tax. His taxes are checked by the Inland Revenue, like anyone else. Last year, the Prince paid £3.3million in tax. So, there's no escaping it. Here's our guide to tax and what it all means.
Tax is collected to pay for public services like healthcare (NHS), education, street lighting and rubbish collection.
The Chancellor of the Exchequer’s budget tells us how much it will cost to provide these services and how much tax is needed to pay for them.
So, what are the different types of tax?