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James Gilray: The Friend of the People; & his Petty New Tax Gatherer paying John Bull a visit (1806) . 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.
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%.
t. e. In the United Kingdom, the value added tax (VAT) [ 1] was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994 .
Taxation in medieval England was the system of raising money for royal and governmental expenses. During the Anglo-Saxon period, the main forms of taxation were land taxes, although custom duties and fees to mint coins were also imposed. The most important tax of the late Anglo-Saxon period was the geld, a land tax first regularly collected in ...
Additionally, "Quick pay" kiosks were also available to place orders and pay. Upon handover of the goods (if shopping using the catalogue number method), the receipt was stamped "RECEIVED" by the shop to ensure that it could not be reused. In October 2012, Argos announced that they would close some of their catalogue shops in 2013.
A catalog merchant ( catalogue merchant in Commonwealth English) is a form of retailing. The typical merchant sells a wide variety of household and personal products, with many emphasizing jewelry. Unlike a self-serve retail store, most of the items are not displayed; customers select the products from printed catalogs in the store and fill out ...
An indirect tax (such as a sales tax, per unit tax, value-added tax [VAT], excise tax, consumption tax, or tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax ...
The term is frequently applied in reference to personal income taxes, in which people with lower income pay a lower percentage of that income in tax than do those with higher income. It can also apply to adjustments of the tax base by using tax exemptions , tax credits , or selective taxation that creates progressive distribution effects.