Which law protects the collection and use of personal data in the UK?

The Data Protection Act is the correct choice as it is the primary legislation in the UK that governs the collection, storage, and use of personal data. This Act is designed to protect individuals' privacy and personal information, establishing principles for how data should be processed legally and ethically. It outlines the rights of individuals regarding their personal data and imposes obligations on organizations that handle such data, ensuring transparency and accountability in data handling practices.

In the context of data protection, the Act establishes fundamental principles such as fairness, lawfulness, and transparency of data processing, as well as the right for individuals to access their personal data and request corrections or deletions. It is essential for safeguarding individuals' privacy and ensuring that organizations respect consumer rights in their handling of personal information.

The other options mentioned do not primarily focus on the management and protection of personal data. The Financial Services and Markets Act pertains to the regulation of financial services rather than data privacy. The Credit Consumer Protection Act focuses on protecting consumers in credit transactions and does not address data privacy. The Private Tax Information Act, which is not widely recognized or established, would be unlikely to encompass personal data protection in the manner laid out by the Data Protection Act.