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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 . VAT is levied on most goods and services ...
Pension tax simplification, sometimes referred to as pension simplification was a British overhaul in 2006 of taxation rules for United Kingdom pension schemes.The aim was to reduce the complicated patchwork of legislation built-up by successive administrations which were seen as acting as a barrier to the public when considering retirement planning.
[citation needed] The change had bigger effects on pensions and non-taxpayers. A pension fund receiving a £1.2 m dividend income prior to the change would have been able to reclaim £400,000 in tax, giving a total income of £1.6 m. After the change, only £300,000 was reclaimable, reducing income to £1.5 m, a fall of 6.25%. [citation needed]
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
Candidates might have been selected on either the old or the new boundaries. [2] At the deadline on 7 June 2024, a total of 132 MPs announced they were standing down at the election. [3] This included a record number of Conservative MPs. 29 former Members of Parliament intend to stand in the election. [4]
"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 ...
Orange juice concentrate prices hit a high of $4.95 per pound in the futures market, up from below $1 per pound in January 2020, The Guardian reported. Just like many food-cost increases, you can ...
When the UK Parliament was established in 1801, non-Anglicans were prevented from taking their seats as MPs under the Test Act 1672. However, Methodists took communion at Anglican churches until 1795, and some continued to do so, and many Presbyterians were prepared to accept Anglican communion, thus ensuring that members of these creeds were ...