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The history of the English fiscal system affords the best known example of continuous financial development in terms of both institutions and methods. Although periods of great upheaval occurred from the time of the Norman Conquest to the beginning of the 20th century, the line of connection is almost entirely unbroken.
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.
Council tax is the system of local taxation used in England, [50] Scotland [51] and Wales [52] to part fund the services provided by local government in each country. It was introduced in 1993 by the Local Government Finance Act 1992 , as a successor to the unpopular Community Charge ("poll tax"), which had (briefly) replaced the Rates system.
Taxation itself took a number of forms in this period. The main tax was the geld, still based on the land, and unique in Europe at the time as being the only land tax that was universal on all the king's subjects, not just his immediate feudal tenants and peasants. It was still assessed on the hide, and the usual rate was 2 shillings per hide.
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.
The Exchequer was named after a table used to perform calculations for taxes and goods in the medieval period. [10] According to the Dialogus de Scaccario ('Dialogue concerning the Exchequer'), [11] an early medieval work describing the practice of the Exchequer, the table was large, 10 feet by 5 feet with a raised edge or "lip" on all sides of about the height of four fingers to ensure that ...
It was willingly supported by hundreds of thousands of investors and tax payers, despite the higher taxes on land and a new income tax. [61] The whole cost of the war came to £831 million. By contrast the French financial system was inadequate and Napoleon's forces had to rely in part on requisitions from conquered lands.
Prior to Edward's departure, Norfolk and Hereford protested at the exchequer that the irregular tax "was never granted by them or the community" and declared they would not pay it. [81] Edward authorised the tax's collection but promised it would not be treated as a precedent. Edward set sail and left behind a country on the brink of civil war ...