What they're made of
Laminate has a dense fibreboard core (HDF) with a printed timber-look layer and a tough clear wear layer on top. It's rigid, hard-wearing and usually the more budget-friendly of the two.
Vinyl plank flooring is made from PVC. Rigid-core versions — often sold as SPC (stone polymer composite) — have a stiff, waterproof core that clicks together much like laminate.
Water: the biggest difference
Laminate is water-resistant, not waterproof. Wipe up spills and it's fine, but standing water that gets into the joints makes the fibreboard core swell, and swollen boards don't go back.
Vinyl plank has a waterproof core, so spills, wet feet and mopping don't harm the boards themselves. It's the safer choice for kitchens, laundries, bathrooms and holiday homes that stand closed up in humid coastal air.
Either way, moisture coming up from a concrete slab must be dealt with before laying — usually with a moisture barrier.
Wear, noise and comfort
Laminate durability is rated on the AC scale (AC1 to AC5). AC3 is generally suitable for all rooms in a home; AC4 and AC5 are for heavier traffic.
Vinyl durability depends mostly on the thickness of its wear layer — thicker wear layers stand up better to scratching and scuffing.
Laminate can sound hollow or 'clicky' underfoot, especially without a good underlay. Vinyl is quieter and feels slightly softer and warmer.
Installation details that matter in both
Both are floating floors: they rest on the subfloor rather than being glued down. That means the subfloor must be flat — dips and high spots make boards flex and joints fail.
Both expand and contract with temperature, so they need an expansion gap at every wall and doorway, hidden by skirtings and trims. Follow the manufacturer's gap size; skipping it is the most common reason floors lift.