"II in 1188 to raise money for the Third Crusade. The tithe demanded that each layperson in England and Wales be taxed one tenth of their personal income and moveable property. The inception date of the modern income tax is typically accepted as 1799, at the suggestion of Henry Beeke, the future Dean of Bristol. This income tax was introduced into Great Britain by Prime Minister William Pitt the Younger in his budget of December 1798, to pay for weapons and equipment for the French Revolutionary War. Pitt's new graduated (progressive) income tax began at a levy of 2 old"
"Income Tax Act 1842 The Income Tax Act 1842 (citation 5 & 6 Vict c. 35) was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a temporary measure, income tax has been levied continually in Britain ever since. In its detail, the Act of"
"cent of GDP, with net taxes and National Insurance contributions standing at £606 billion. A uniform Land tax, originally was introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century. Income tax was announced in Britain by William Pitt the Younger in his budget of December 1798 and introduced in 1799, to pay for weapons and equipment in preparation for the Napoleonic Wars. Pitt's new graduated (progressive) income tax began at a levy of 2 old pence in the pound (1/120) on annual incomes over £60"
"1842 was substantially similar to the Income Tax Act 1803 introduced by Henry Addington during the Napoleonic Wars. Income Tax Act 1842 The Income Tax Act 1842 (citation 5 & 6 Vict c. 35) was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a"
"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 after it was reduced in 1822, it produced over 10 percent of government's annual revenues through the 1840s. The house tax mostly hit London town houses; the windows tax mostly hit country manors. The income tax was reintroduced by Sir Robert Peel in the Income Tax Act 1842. Peel,"
"tax was introduced in England and Wales in 1696 under King William III and was designed to impose tax relative to the prosperity of the taxpayer, but without the controversy that then surrounded the idea of income tax. At that time, many people in Britain opposed income tax, on principle, because the disclosure of personal income represented an unacceptable governmental intrusion into private matters, and a potential threat to personal liberty. In fact the first permanent British income tax was not introduced until 1842, and the issue remained intensely controversial well into the 20th century. When the window tax was"
"receipts for 1799 totalled just over £6 million. Pitt's progressive income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens. Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation. 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. The United Kingdom income tax was reintroduced by Sir Robert Peel in the Income Tax Act 1842. Peel, as a Conservative, had opposed income tax in the 1841 general"
"), and increased up to a maximum of 2 shillings (10%) on incomes of over £200. Pitt hoped that the new income tax would raise £10 million, but actual receipts for 1799 totalled just over £6 million. Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens. Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation. 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. Addington's"
"in 1803 when hostilities with France recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo. Opponents of the tax, who thought it should only be used to finance wars, wanted all records of the tax destroyed along with its repeal. Records were publicly burned by the Chancellor of the Exchequer, but copies were retained in the basement of the tax court. In the United Kingdom of Great Britain and Ireland, income tax was reintroduced by Sir Robert Peel by the Income Tax Act 1842. Peel, as a Conservative, had opposed income tax in the"
"house () and a variable tax for the number of windows above ten windows. Properties with between ten and twenty windows paid a total of four shillings (comparable to £ in ), and those above twenty windows paid eight shillings (£ as of ). Income tax was first implemented in Great Britain by William Pitt the Younger in his budget of December 1798 to pay for weapons and equipment in preparation for the Napoleonic Wars. Pitt's new graduated (progressive) income tax began at a levy of 2 old pence in the pound (1/120) on incomes over £60 (£ as of"
"pence in the pound (1/120) on incomes over £60 (equivalent to £ in ), and increased up to a maximum of 2 shillings in the pound (10%) on incomes of over £200. Pitt hoped that the new income tax would raise £10 million a year, but actual receipts for 1799 totalled only a little over £6 million. Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens. Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation. The income tax was reintroduced by Addington"
"Capital Gains Tax (CGT) was introduced across the UK on 6 April 1965. Across his two periods in office, Wilson presided over significant increases in the overall tax burden in the UK. In 1974, three weeks after forming a new government, Wilson's new chancellor Denis Healey partially reversed the 1971 reduction in the top rate of tax from 90% to 75%, increasing it to 83% in his first budget, which came into law in April 1974. This applied to incomes over £20,000 (equivalent to £ in ), and combined with a 15% surcharge on 'un-earned' income (investments and dividends) could"
"for elderly workers, thereby laying the groundwork for the future British welfare state. The People's Budget of 1909, championed by David Lloyd George and fellow liberal Winston Churchill, introduced unprecedented taxes on the wealthy in Britain and radical social welfare programmes to the country's policies. It was the first budget with the expressed intent of redistributing wealth among the public. It imposed increased taxes on luxuries, liquor, tobacco, incomes, and land, – taxation that disproportionately affected the rich – so that money could be made available for new welfare programmes as well as new battleships. In 1911 Lloyd George succeeded"
"1841 general election, but a growing budget deficit required a new source of funds. The new income tax, based on Addington's model, was imposed on incomes above £150 (equivalent to £ in ). Although this measure was initially intended to be temporary, it soon became a fixture of the British taxation system. A committee was formed in 1851 under Joseph Hume to investigate the matter, but failed to reach a clear recommendation. Despite the vociferous objection, William Gladstone, Chancellor of the Exchequer from 1852, kept the progressive income tax, and extended it to cover the costs of the Crimean War."
"Insurance Premium Tax (United Kingdom) Insurance Premium Tax (IPT) is a type of indirect tax levied on general insurance premiums in the United Kingdom. The UK government introduced the Insurance Premium Tax to raise revenue from the insurance sector, which was viewed as being under-taxed, and not subject to Value Added Tax. The main EU legislation regarding VAT (Council Directive 2006/112/EC) states that insurance and reinsurance transactions, including related services performed by insurance brokers and insurance agents, are exempt from VAT. The Insurance Premium Tax was announced by Kenneth Clarke in the November 1993 budget and introduced with the Finance"
"was the only requirement, its house would then be let or neglected, often both. This was certainly the case at Tong Castle (see below) and many other houses. A large unwanted country house unsupported by land quickly became a liability. Income tax was first introduced in Great Britain in 1799 as a means of subsidising the Napoleonic Wars. While not imposed in Ireland, the rate of 10% on the total income, with reductions only possible in incomes below £200, immediately hit the better off. The tax was repealed for a brief period in 1802 during a cessation in hostilities with"
"election, but a growing budget deficit required a new source of funds. The new income tax, based on Addington's model, was imposed on incomes above £150. Although this measure was initially intended to be temporary, it soon became a fixture of the British taxation system. A committee was formed in 1851 under Joseph Hume to investigate the matter, but failed to reach a clear recommendation. Despite the vociferous objection, William Gladstone, Chancellor of the Exchequer from 1852, kept the progressive income tax, and extended it to cover the costs of the Crimean War. By the 1860s, the progressive tax had"
"become a grudgingly accepted element of the English fiscal system. In the United States, the first progressive income tax was established by the Revenue Act of 1862. The act was signed into law by President Abraham Lincoln, and replaced the Revenue Act of 1861, which had imposed a flat income tax of 3% on incomes above $800. The Sixteenth Amendment to the United States Constitution, adopted in 1913, permitted Congress to levy all income taxes without any apportionment requirement. By the mid-20th century, most countries had implemented some form of progressive income tax. Indices such as the Suits index, Gini"
"Place in London, unveiled in 2008. Campbell-Bannerman was the subject of several parody novels based on ""Alice in Wonderland"", such as Caroline Lewis's ""Clara in Blunderland"" (1902) and ""Lost in Blunderland"" (1903). Henry Campbell-Bannerman Sir Henry Campbell-Bannerman (7 September 183622 April 1908) was a British statesman and Liberal Party politician who served as Prime Minister of the United Kingdom from 1905 to 1908 and Leader of the Liberal Party from 1899 to 1908. He also served as Secretary of State for War twice, in the Cabinets of Gladstone and Rosebery. He was the first First Lord of the Treasury to"
"indirect taxation, reduced personal income tax rates during the 1980s. 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%. The basic rate was also cut for three successive budgets – to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988. The top rate of income tax was cut to 40% in the 1988 budget. The investment income surcharge was abolished in 1985. Under the government of John Major the basic rate was reduced in stages to 23% by"
"for two years of holding period. Channon observes that one of the primary drivers to the introduction of CGT in the UK was the rapid growth in property values post World War II. This led to property developers deliberately leaving office blocks empty so that a rental income could not be established and greater capital gains made. The capital gains tax system was therefore introduced by chancellor James Callaghan in 1965 Individuals who are residents or ordinarily residents in the United Kingdom (and trustees of various trusts), who are on the basic tax rate are subject to capital gains tax"
"July 1940, passed with little notice, and brought into effect some minor changes planned by his predecessor. Of more long-lasting impact was his creation in the same month of a council of economic advisers, the most notable of whom, John Maynard Keynes, was quickly recruited as a full-time adviser at the Treasury. Jenkins detects Keynes's influence in Wood's second budget, in April 1941. It brought in a top income tax rate of 19s 6d (97½ pence in decimal currency) and added two million to the number of income tax payers; for the first time in Britain's history the majority of"
"believed that ""The Wealth of Nations"" gave a ""scientific backbone to liberal sentiment"" and that it was the ""classic English philosophy of history"". Smith's biographer John Rae contends that ""The Wealth of Nations"" shaped government policy soon after it was published. In 1777, in the first budget after the book was published, the Prime Minister Lord North, got the idea for two new taxes from the book: one on man-servants and the other on property sold at auction. The budget of 1778 introduced the inhabited house duty and the malt tax, both recommended by Smith. In 1779, Smith was consulted"
"History of taxation in the United Kingdom 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. Prior to the formation of the United Kingdom in 1707, 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."
"the French, but its reintroduction in 1803 set the pattern for all future taxation in Britain. While the tax was again repealed following the victory at Waterloo, the advantages of such taxation were now obvious. In 1841 following the election victory of Sir Robert Peel, the exchequer was so depleted that the tax made a surprise return on incomes above £150 while still known as a ""temporary tax"". It was never again to be repealed. Throughout the 19th century, tax thresholds remained high, permitting the wealthy to live comfortably while paying minimal tax; until in 1907, H. H. Asquith introduced"
"Prime Minister James Callaghan, to seek an International Monetary Fund (IMF) loan and submit the British economy to IMF supervision. The loan was negotiated and agreed in November and December 1976, and announced in Parliament on 15 December 1976. Within some parts of the Labour Party the transition from Healey Mark I (which had seen a proposal for a wealth tax) to Healey Mark II (associated with government-specified wage control) was regarded as a betrayal. Healey's policy of increasing benefits for the poor meant those earning over £4,000 per year would be taxed more heavily. His first budget saw increases"
"called the People's Budget ""a revolutionary concept"" because it was the first budget in British history with the expressed intent of redistributing wealth equally amongst the British population. It was a key issue of contention between the Liberal government and the Conservative-dominated House of Lords, leading to two general elections in 1910 and the enactment of the Parliament Act 1911. The Budget was introduced in the British Parliament by David Lloyd George on 29 April 1909. Lloyd George argued that the People's Budget would eliminate poverty, and commended it thus: The budget included several proposed tax increases to fund the"
"welfare-oriented, and interventionist state. After the historic 1906 victory, the Liberal Party introduced multiple reforms on range of issues, including health insurance, unemployment insurance, and pensions for elderly workers, thereby laying the groundwork for the future British welfare state. Some proposals failed, such as licensing fewer pubs, or rolling back Conservative educational policies. The People's Budget of 1909, championed by David Lloyd George and fellow Liberal Winston Churchill, introduced unprecedented taxes on the wealthy in Britain and radical social welfare programmes to the country's policies. It was the first budget with the expressed intent of redistributing wealth among the public."
"10p tax rate The starting rate of income tax, often known as the 10p rate, was a special rate of personal income taxation in the United Kingdom that existed from 1999 to 2008. The starting rate was the lowest rate of income tax in the United Kingdom. It meant that certain incomes above the personal allowance would be taxed at a basic rate of 10%, which meant a reduced rate compared with the previous basic UK income tax rate of 23%. The reduced tax rate for low incomes was introduced in Gordon Brown's third budget as Chancellor of the Exchequer."
"Income and Corporation Taxes Act 1988 The Income and Corporation Taxes Act 1988, also known as ICTA, was the foremost United Kingdom Act of Parliament concerned with taxation until the Income Tax Act 2007 and the Corporation Tax Act 2010. ICTA was enacted in order to consolidate a number of earlier legislative provisions covering taxation. Originally, ICTA primarily covered income tax (paid principally by individuals) and corporation tax (paid principally by companies). Following the Tax Law Rewrite Project, sections relating to income tax have been substituted by the Income Tax (Earnings and Pensions) Act 2003, the Income Tax (Trading and"
"then Prime Minister Gordon Brown confirmed at the Labour Party conference later that month that the idea had been scrapped. The issue was raised again in 2013, led by former Prime Minister Sir John Major, who described the recent energy price rises of more than 10% ""unacceptable"", calling for a one-off emergency tax. Windfall Tax (United Kingdom) The Windfall Tax was a tax on what were claimed to be ""the excess profits of the privatised utilities"" and was introduced by the Labour government of Tony Blair in 1997. It followed from their manifesto commitment made during the 1997 general election"
"over the Conservative candidate Martine Hyams; Nellist finished third but only by a further 40 votes. Cunningham made his maiden speech on 12 May 1992 in which he spoke of the social and economic problems of Coventry and criticised the then level of central government resources allocated to the city. Following reports from the previous year that the Queen was to agree to pay income tax, which Buckingham Palace and the Prime Minister denied, he called for the Queen and other members of the Royal Family to begin paying income tax in his letter to the Chancellor of the Exchequer"
"the European Economic Community and as a consequence Purchase Tax was replaced by Value Added Tax on 1 April 1973. The Conservative Chancellor Lord Barber set a single VAT rate (10%) on most goods and services. UK income tax has changed over the years. Originally it taxed a person's income regardless of who was beneficially entitled (that is, regardless of whether they had a legal obligation to pass it on to another person) to that income, but now a person owes tax only on income to which he or she is beneficially entitled. Most companies were taken out of the"