Internet for Beginners/domain name suffixes

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Question
What exactly is the difference, for a UK-based business, between a '.com' and a '.co.uk' website name? Does it matter which you choose? And what about '.net'?

I have spent about 4000 hours online (well, it seems like it) trying to find this out, without success. As so often in computing, we're all supposed to have been born knowing these things.  

Answer
Adam-

Let me tell you this much, I was not born knowing what I know about computers.  I learned 80% of what I know by trial and error, and asking.

A .uk website means it's more than likely found in the United Kingdom.  A .net address means that it's probably not a company which is .com  

I don't find that it matters what you choose, just so that people can easily reach your website.  :-)

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