Glossary

The world of property investment can sometimes be confusing; our Glossary is full of useful terms to help every investor, whether they are a first time landlord or a seasoned portfolio builder.


I

Income Tax


Tax levied directly on personal income, both earned (wages, salaries and commission) and unearned (dividends, interests and rent). The rate of Income Tax payable is dependent on how much of your taxable income is above your Personal Allowance (PA) within the tax year. The three tax brackets in the UK are:

  • Basic rate (20%)—taxable income above your PA is between £0 to £31,865
  • Higher rate (40%)—taxable income above your PA is between £31,866 to £150,000
  • Additional rate (45%)—taxable income above your PA is over £150,000

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