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The budget increased net taxes by £4 billion (in 1981 prices). [3]A new 20% tax on North Sea oil was introduced. [1]A one-off windfall tax on certain bank deposits was introduced, in the form of a 2.5% levy on deposits of banking businesses, charged by reference to non-interest bearing sterling deposits in excess of £10 million averaged over the final three months of 1980. [2]
A breakdown showed that for someone with a salary of £25,500 in 2012 and paying £5,979 tax: £2,080 went on pensions and benefits; £1,094 on the NHS; £824 on education; £339 on defence; £160 on the police; £44 on prisons; £92 on roads; £71 on railways; £28 to the European Union [5]
Addington had taken over as prime minister in 1801. The income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo. Considerable controversy was aroused by the malt, house, windows and income taxes. The malt tax was easy to collect from brewers; even ...
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.
Annual income percentiles for taxpayers in the UK, before and after income tax. In the SVG file, hover over a graph to highlight it. The most recent SPI report (2012/13) gave annual median income as £21,000 before tax and £18,700 after tax. [7] The 2013/14 HBAI report gave median household income (2 adults) as £23,556. [9]
Since autumn 2017 the United Kingdom budget typically takes place in the Autumn in order to allow major tax changes to occur annually, well before the start of the fiscal year. [2] The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
The Palace of Westminster, in which the Houses of Parliament are based This article lists the published allegations of expenses abuse made against specific members of the British Parliament in the course of the United Kingdom parliamentary expenses scandal. While the majority of these were first made public by The Daily Telegraph on or after 8 May 2009, a few cases had already come to public ...