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Council Tax is a local taxation system used in England, Scotland and Wales. It is a tax on domestic property, which was introduced in 1993 by the Local Government Finance Act 1992, replacing the short-lived Community Charge (also known as "poll tax"), which in turn replaced the domestic rates.
As in England, the individual domestic rates bill was calculated by multiplying the rateable valuation of a property by the domestic poundage rate set by the local Council. Before the 1996 reform of local government , domestic rates were set by Regional Councils, and prior to the 1975 reorganisation , rates were set by County Councils.
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]
Domestic rates are the local government taxation in Northern Ireland. Rates are a tax on property based on the capital value of the residential property on 1 January 2005. Domestic rates consist of two components, a regional rate set by the Northern Ireland Assembly and a district rate set by local councils. Rate levels are set annually.
In the financial year 2023/24, 51% of revenue expenditure is expected to come from UK Government grants, 31% from council tax and 15% from retained business rates. [ 27 ] Local government can also receive some money from fees and charges for the use of services, returns and interest from investments , commercial income, fixed penalty notices ...
The local authority derives its powers and functions from the London Government Act 1963 and subsequent legislation, and has the powers and functions of a London borough council. It sets council tax and as a billing authority also collects precepts for Greater London Authority functions and business rates. [15]
Since the last boundary changes in 2022 the council has comprised 58 councillors representing 22 wards, with each ward electing one, two or three councillors. Elections are held every four years. [20] Following the 2022 election and subsequent by-elections and changes of allegiance up to May 2024, the composition of the council was:
The Renting Homes (Supported Standard Contracts) (Supplementary Provisions) (Wales) Regulations 2022 25: The Council Tax Reduction Schemes (Prescribed Requirements) (England) (Amendment) Regulations 2022 26: The Elections (Policy Development Grants Scheme) (Amendment) Order 2022 27: The School and Early Years Finance (England) Regulations 2022 ...