Central Government income

• Income tax


  Paid by everyone earning or having an investment or savings income above a set annual level
• National Insurance contributions(NICs)


  Paid by everyone below the age of 65 in employment earning above a set level
• Value-Added Tax(VAT)


  paid on a large range of goods and services
• Corporation Tax


  Paid by companies on their profits
• Business rates


  paid by businesses based on the value of their properties
• Excise duties


  taxes on things such as cigarettes and alcohol