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  2. Taxation of trusts (United Kingdom) - Wikipedia

    en.wikipedia.org/wiki/Taxation_of_trusts_(United...

    18–25 trust Created either by amendment to an existing accumulation and maintenance trust, or in the will of the parent of the beneficiary concerned, who must be absolutely entitled on or before age 25. Tax as normal on creation (new ones can only be created by will, therefore taxed as part of the settlor's death estate). Trust becomes a ...

  3. Tax rates in Europe - Wikipedia

    en.wikipedia.org/wiki/Tax_rates_in_Europe

    Income tax for the United Kingdom is based on 2023/24 tax bands. The current tax free threshold on earnings is £12,570. The relief is tapered by £1 for every £2 earned over £100,000, resulting in an effective 60% tax rate for incomes between £100,000 and £125,140.

  4. Starting rate of UK income tax - Wikipedia

    en.wikipedia.org/wiki/Starting_rate_of_UK_income_tax

    At the time of its introduction in 1999, the reduced tax rate of 10% applied to incomes between £4,335 and £5,835 [5] (equivalent to £9,489 to £12,772 in 2023) and was the only income tax paid by 1.8 million of the lowest earners. [3] By early 2008, the 10% tax rate had been raised to apply to income between £5,225 and £7,455. [6]

  5. Taxation in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom

    Excise taxes were added on luxury imports such as automobiles, clocks and watches. There was no sales tax or value added tax. The main increase in revenue came from the income tax, which in 1915 went up to 3s. 6d in the pound (17.5%), and individual exemptions were lowered. The income tax rate increased to 5s. (25%) in 1916, and 6s. (30%) in 1918.

  6. List of countries by tax rates - Wikipedia

    en.wikipedia.org/wiki/List_of_countries_by_tax_rates

    6.9% (for minimum wage full-time work in 2024: includes 20% flat income tax, of which first 7848€ per year is tax exempt for low-income earners + 2% mandatory pension contribution + 1.6% unemployment insurance paid by employee); excluding social security taxes paid by the employer

  7. Tax-exempt special savings account - Wikipedia

    en.wikipedia.org/wiki/Tax-exempt_special_savings...

    A specific requirement was the presentation of the applicant's National Insurance number, to ensure only one TESSA (tax free) account investment could be operated by the individual per year. Interest on the TESSA was free from UK income tax. The favourable tax treatment of a TESSA lasted for five years, and it was possible to invest up to £ ...

  8. Income tax in Scotland - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_Scotland

    Income tax in Scotland is a tax of personal income gained through employment. This is a tax controlled by the Scottish Parliament, [clarification needed] and collected by the UK government agency HM Revenue & Customs. Since 2017, the Scottish Parliament has had the ability to set income tax rates and bands, apart from the personal allowance. [1]

  9. English trust law - Wikipedia

    en.wikipedia.org/wiki/English_trust_law

    In EU and UK law the umbrella term "collective investment scheme" is used to cover a range of legal entities, regardless of their form as trusts, companies or contracts, or a mixture. A "unit trust" is created through a trust deed, and run by a fund manager, where people may buy or sell "units" in a fund that invests in a range of securities.

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