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Chief among the announcements in the 1992 budget was Lamont's decision to introduce the 20p lower rate of income tax for the first £2,000 of earnings, a rate which he said would be expanded over time to become the basic rate of income tax. Personal tax allowances were increased in line with inflation, although the 40p top rate of income tax ...
In the UK tax system, personal allowance is the threshold above which income tax is levied on an individual's income. A person who receives less than their own personal allowance in taxable income (such as earnings and some benefits) in a given tax year does not pay income tax; otherwise, tax must be paid according to how much is earned above this level.
[1] [3] [4] Furthermore, the personal tax allowance was increased by 7.4%, double the rate of inflation. [5] Corporation tax was also reduced from 27% to 25% for smaller companies. [ 5 ] Inheritance tax was simplified, with the four rates between 30% and 60% replaced by a single 40% rate, while the threshold at which inheritance tax was levied ...
In May 2008, the Chancellor of the Exchequer announced that the 2008–09 personal allowance would be increased by £600 (from £5435 to £6035) [10] to help low-income tax-payers affected by the abolition of the 10% starting rate of income tax. At the same time, the threshold for higher rate income tax was reduced by £600, so that higher rate ...
Waterguard officers were responsible for applying the allowances provided for in law and for collection of customs and excise revenue on the excess. The officers were also responsible for the enforcement of the prohibitions and restrictions, including controlled drugs and plant and animal health.
Each person has an income tax personal allowance, and income up to this amount in each tax year is free of tax. Until the 2027/28 tax year, the tax-free allowance for individuals with income less than £100,000 is £12,570. [38] Any income above the personal allowance is taxed using a number of bands:
HM Customs and Excise (properly known as Her Majesty's Customs and Excise at the time of its dissolution) was a department of the British Government formed in 1909 by the merger of HM Customs and HM Excise; its primary responsibility was the collection of customs duties, excise duties, and other indirect taxes.
The government of the day were frightened by the prospect of the police going on strike and created the PFEW and withdrew the right of officers in the UK to strike. [4] Police officers hold office and are not employees. [5] Each officer is an independent legal official and not an "agent of the police force, police authority or government". [6]