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Taxation in the United Kingdom. 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 .
Prior to the formation of the Kingdom of Great Britain in 1707 and the United Kingdom in 1801, taxation had been levied in the countries that joined to become the UK. For example, in England, King John introduced an export tax on wool in 1203 and King Edward I introduced taxes on wine in 1275. Also in England, a Poor Law tax was established in ...
On May 20, 2010, the SEC filed a federal case against Edward A. Allen and David L. Olson, two former brokers of World Financial Group / World Group Securities, accusing them of having raised approximately $14.8 million through the offer and sale of promissory notes as part of an illegal Ponzi scheme in the States of Ohio and Florida between ...
Inflation is up 20% since Biden took office. Inflation has emerged as one of the most stubborn political problems for President Biden in his re-election campaign, and price growth hit a grim new ...
"Green" in these tables refers to combined totals for the green parties in the United Kingdom, namely the Green Party of England and Wales, the Scottish Greens, and, for polls of the entire UK, the Green Party Northern Ireland. The three parties share a commitment to environmental policies, but are independent of one another, with each ...
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%.