Which among the following are you required to pay tax on: profits from self-employment or income from property, savings, and dividends?

Okay, let's break down why you need to pay tax on profits from self-employment, income from property, savings, and dividends in the UK. The UK tax system operates on the principle that income, from almost any source, is generally taxable. Think of it this way: if you're earning money, the government expects a share to fund public services like healthcare, education, and infrastructure. Self-employment profits are taxed because they represent your earnings from running your own business. Similarly, income from property, like rental income, is taxable because it's considered a form of profit. Savings and dividends – these are essentially returns on your investments, and the government taxes these returns as income. Now, gifts like shopping vouchers or small amounts of money are generally exempt from income tax because they're not considered earned income. They're seen as personal transfers rather than a source of profit or earnings. So, the key takeaway is that the UK tax system targets income derived from work, business activities, investments, and property, not personal gifts or transfers.