Search results
Results from the WOW.Com Content Network
A non-domiciled UK resident earning less than £2,000 in a year outside the UK does not pay tax on this unless it is transferred to the UK. This would apply to the typical person taking up a temporary job in the UK, being paid, and paying tax on it, in the UK, with possible additional small earnings in the home country.
Ecotax, a tax of any kind intended to improve the environment. Franchise tax is a tax levied on the net worth of a corporation. Khums was a tax on items looted during war levied in Islamic States. Scutage was a tax levied in England. A person could pay scutage instead of serving in the military.
For example, in England, King John introduced an export tax on wool in 1203 and King Edward I introduced taxes on wine in 1275. Also in England, a Poor Law tax was established in 1572 to help the deserving poor, and then changed from a local tax to a national tax in 1601. [1] In June 1628, England's Parliament passed the Petition of Right which ...
Together with the House Tax and the Window Tax, they came to be known as the 'assessed taxes' and were intended as a progressive form of taxation on the wealthy. [5] Income tax was introduced in various forms in 1797, 1799, 1803 to 1816, and then reintroduced in 1842 as an annual tax which is formally renewed in each year's Finance Act.
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 ...
Under UK tax legislation, tax payers are obliged to notify HMRC when they have a liability to tax no later than 9 months after the end of the tax year in which they became liable. Depending on the circumstances and the tax owed, they may do this by registering for self assessment and completing a tax return by January 31.
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
In the UK, gains made by companies fall under the scope of corporation tax rather than capital gains tax. In 2017–18, total capital gains tax receipts were £8.3 billion from 265,000 individuals and £0.6 billion from trusts, on total gains of £58.9 billion. [1] The current operation of the capital gains tax system is a recognised issue.