Income tax is the main tax that most people are aware of. Like its name suggests, income tax is a tax on your income.
Income that is taxable includes earnings from employment or self-employment, most pension income, interest on most savings accounts, income from shares, income from rental properties and income paid to you from a trust.
In contrast, there is also non-taxable income, such as certain company benefits and income from tax-exempt savings accounts such as ISAs. These types of income are ignored when working out how much income tax you must pay.