Search results
Results from the WOW.Com Content Network
Tax revenues as a percentage of GDP for the UK in comparison to the OECD and the EU 15. In 1971, the top rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the overall top rate on that income at 90%. In 1974 the top tax rate on earned income was again raised, to 83%.
In the United Kingdom, inheritance tax is a transfer tax.It was introduced with effect from 18 March 1986, replacing capital transfer tax.The UK has the fourth highest inheritance tax rate in the world, according to conservative think tank, the Tax Foundation, though only a very small proportion of the population pays it. 3.7% of deaths recorded in the UK in the 2020-21 tax year resulted in ...
The pink tax refers to the tendency for products marketed specifically toward women to be more expensive than those marketed toward men. This phenomenon is often attributed to gender-based price discrimination, however research shows that the primary cause is women sorting into goods with higher marginal costs.
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. The current operation of the capital gains tax system is a recognised issue.
In the United Kingdom, a tax return is a document that must be filed with HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation. The main returns currently in use are: SA100 for individuals paying income tax. SA800 for partnerships.
Poll tax (Great Britain) 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. It replaced domestic rates in Scotland from 1989 ...
Prior to the formation of the Kingdom of Great Britain in 1707 and the United Kingdom in 1801, taxation had been levied in the countries that joined to become the UK. 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 ...
Bedroom tax. The bedroom tax is a United Kingdom welfare policy whereby tenants living in public housing (also called council or social housing) with rooms deemed "spare" experience a reduction in Housing Benefit, resulting in them being obliged to fund this reduction from their incomes or to face rent arrears and potential eviction by their ...