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The Friend of the People; & his Petty New Tax Gatherer paying John Bull a visit (1806), James Gillray. The history of taxation in the United Kingdom includes the history of all collections by governments under law, in money or in kind, including collections by monarchs and lesser feudal lords, levied on persons or property subject to the government, with the primary purpose of raising revenue.
This table reflects the removal of the 10% starting rate from April 2008, which also saw the 22% income tax rate drop to 20%. From April 2010, the Labour government introduced a 50% income tax rate for those earning more than £150,000. Income threshold for high taxation rate on income was decreased to £32,011 in 2013. [43]
Between October 1940 and March 1973 the UK had a consumption tax called Purchase Tax, which was levied at different rates depending on an assessment of goods' luxuriousness. [4] Purchase Tax was applied to the wholesale price, introduced during World War II, initially at a rate of 33.3%. This was doubled in April 1942 to 66.6%, and further ...
The great productiveness of the tax is equally remarkable. From £5,600,000 in 1843 (with a rate of 7d.) the return rose to £32,380,000 in 1907–1908, having been at the maximum of £38,800,000 in 1902–1903, with a tax rate of 6 1 ⁄ 4 %. The income-tax thus supplies about one-fifth of the total revenue, or one-fourth of that obtained by ...
From 1965 to 1988, most gains incurred a 30% rate of capital gains tax. In 1988, Conservative Chancellor Nigel Lawson aligned rates with those for income tax (where the top rate was 40% at the time) and this regime continued until 2008, when Gordon Brown changed the rate to 18% for all taxpayers. [1]
The revenues from the traditional sources of taxation declined in later medieval England, and a series of experiments in poll taxes began: [15] in 1377 a flat-rate tax, in 1379 a graduated tax. [16] By 1381, the unpopularity of these taxes had contributed to the Peasants' Revolt. Later experiments in income taxes during the 15th century did not ...
Rates are a tax on property in the United Kingdom used to fund local government. Business rates are collected throughout the United Kingdom. Domestic rates are collected in Northern Ireland and were collected in England and Wales before 1990 and in Scotland before 1989.
The 10p rate was the lowest rate of income tax in the United Kingdom. It meant that certain incomes above the personal allowance would be taxed at a basic rate of 10%, [1] which meant a reduced rate compared with the previous basic UK income tax rate of 23%.