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The National Living Wage is an obligatory minimum wage payable to workers in the United Kingdom aged 21 [a] and over which came into effect on 1 April 2016. As of April 2024 it is £11.44 per hour. [1]
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.
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 ...
IFS warns of further tax rises if Reeves £40bn tax gamble does not pay off Analysis: Rachel Reeves goes on the attack on the £22bn black hole 12:44 , David Maddox
On 22 April 2009, the then Chancellor Alistair Darling announced in the 2009 Budget statement that starting in April 2010, those with annual incomes over £100,000 would see their Personal allowance reduced by £1 for every £2 earned over £100,000, until the Personal allowance was reduced to zero, which (in 2010–11) would occur at an income of £112,950.
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 ] The provisional results from the April 2014 ASHE report give median gross annual earnings of £22,044 for all employees and £27,195 for full-time ...
In 1974, around 750,000 people paid the higher (but not necessarily the top) rate of income tax. [11] Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s. [12] In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%. [13]
VED and fuel tax raised approximately £32 billion in 2009, a further £4 billion was raised from the value added tax on fuel purchases. Motoring-related taxes for fiscal year 2011/12, including fuel duties and VED, are estimated to amount to more than £38 billion, representing almost 7% of total UK taxation .