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(2) A year for which income tax is charged is called a "tax year". (3) A tax year begins on 6 April and ends on the following 5 April. (4) "The tax year 2007–08" means the tax year beginning on 6 April 2007 (and any corresponding expression in which two years are similarly mentioned is to be read in the same way). [49]
A leaflet explaining the Community Charge (the so-called "poll tax"), Department of the Environment, April 1989. The Community Charge, commonly known as the poll tax, was a system of local taxation introduced by Margaret Thatcher's government whereby each taxpayer was taxed the same fixed sum (a "poll tax" or "head tax"), with the precise amount being set by each local authority.
To win in the first round, as Thatcher had done one year before, a candidate needed not just to win an absolute majority, but also to have a lead over the runner-up of 15% of the total electorate (not just those who actually voted, as had been the case until the 1975 review, but including those who abstained or spoiled their ballot papers).
The proposed replacement was a flat-rate per capita Community Charge—"a head tax that saw every adult pay a fixed rate amount set by their local authority". [1] The new Charge was widely called a "poll tax" and was introduced in Scotland in 1989 and in England and Wales a year later. [3]
The budget marked a major change in direction for the UK economy, with an increase in reliance on interest rates and monetary policy to control inflation. It is also noted for its introduction of substantial tax cuts, such as reducing the top rate of income tax from 83% to 60% and the basic rate from 33% to 30%.
Local government rates (taxes) were replaced by the community charge, popularly known as the "poll tax", which levied a flat rate on all adult residents. [177]: 297 Almost every adult, irrespective of income or wealth, paid the same, which would heavily redistribute the tax burden onto the less well-off. [178]
In 1989, one of their hotels, a midtown Manhattan property called LeMarquis, opened some of its rooms to federal inmates. Slattery and Horn called the new company Esmor, Inc. They laid out ambitious expansion goals that included running a variety of facilities that would house federal prisoners, undocumented immigrants and juvenile delinquents.
Just a few months later Lawson had to double interest rates and the UK was running its largest ever balance-of-payments deficit. [ 1 ] Critics of Lawson assert that a combination of the abandonment of monetarism , the adoption of a de facto exchange-rate target of 2.95 deutschmarks to the pound, and excessive fiscal laxity (in particular the ...