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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 ...
The National Lottery. The National Lottery is the state- franchised national lottery established in 1994 in the United Kingdom. It is regulated by the Gambling Commission, and is currently operated by Allwyn Entertainment Ltd, who took over from Camelot Group (who had been running the National Lottery since its inception) on 1 February 2024.
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 ...
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom ( UK) or Britain, [m] is a country in Northwestern Europe, off the coast of the continental mainland. [21] [22] It comprises England, Scotland, Wales, and Northern Ireland.
The number of Poland-born people resident in the UK increased from 60,711 in 2001 to an estimated 532,000 in the year to December 2010, whilst the population born in Lithuania increased from 4,363 to an estimated 87,000. [19] The most significant decrease in a foreign-born population resident in the UK between 2001 and 2010 is in the number of ...
Breakdown of UK daily newspaper circulation, 1956 to 2019. At the start of the 19th century, the highest-circulation newspaper in the United Kingdom was the Morning Post, which sold around 4,000 copies per day, twice the sales of its nearest rival. As production methods improved, print runs increased and newspapers were sold at lower prices.
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%.
v. t. e. Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities registered overseas with permanent establishments in the UK. Until 1 April 1965, companies were taxed at the same income tax rates as individual taxpayers, with an additional profits tax levied ...