Financial Times Guide to How the Stock Market Really Works, 5th Edition

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UK taxation

Tax is a burden on everyone in society, from the richest to the poorest, and although governments often say that tax revenue is spent on providing essential services to the public, one might be forgiven for suspecting that a lot of our tax money is wasted or goes to the wrong places. From an investor’s point of view, the real difficulty with tax systems is that they are constantly changing, and the rules are highly complex and often contradictory, which makes it very hard for the investors to plan how to legally minimize their tax liabilities.

It is important to use an accountant, even if you don’t have very much money, to stop you getting into a mess – sometimes they can even save you money. The key is to stay within the ...