What is Income Tax?

Income tax is a direct tax on personal income. Simply put, income tax is a tax on your income. When your income is above your allowance you must pay tax on the following income sources:

Money from work
Income from pensions
Interest on savings
Rental fee
Employment benefits
A reliable income

Income tax is a sad fact of life and if you get money from any of the above sources you may need to file a personal income tax return. First, get confirmation if you need to file a tax return form by consulting the GoSimpleTax wizard. It’s free, easy to use and takes less than a minute.

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