Category: Tax Law
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Conveyance Tax
Conveyance tax in the Context of Mortgages A tax imposed on the transfer of real property. Similar Terms Conveyance Conveyance The transfer of title of property. Conveyancer Conveyancer A specialist in the legal aspects of buying a house. This may be a solicitor but not all solicitors are […]
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Indirect Tax
History Note: there is some information about the history of indirect taxation here. Parallel with the evolution of direct taxation, but decidedly lagging behind, is the progress of indirect taxation. As already mentioned, the right of levying dues on goods entering or leaving English ports […]
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Direct Tax
History Almost at the opening of the age of parliamentary taxation one of the older sources of revenue ceased. The pressure of popular opinion forced Edward I. to decree the expulsion of the Jews (1290), though he naturally desired to retain such profitable subjects. It is, indeed, probable […]
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Tax System History
Note: there is some information about the history of direct taxation here; and on the history of indirect taxation here. The direct taxation took the shape of a “monthly assessment” which was fixed from time to time, and which was collected under strict regulations, in marked contrast to […]
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Finance
Finance Meaning in Politics Description of Finance published by Mona Chalabi: Political finances in the United Kingdom are regulated by the Electoral Commission, which sets limits on how much a party can spend while campaigning, ensures that spending is recorded (and, where necessary, […]
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Output Tax
The *value-added tax that is charged by a taxable person on making a supply of goods or services.
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Development Land Tax
Definition of Development Land Tax In accordance with the work A Dictionary of Law, this is a description of Development Land Tax : A tax charged on the development value of land when the land was disposed of before 19 March 1985. It was abolished for all disposals after that date by the […]
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Corporation Tax
Definition of Corporation Tax In accordance with the work A Dictionary of Law, this is a description of Corporation Tax : A tax on the worldwide profits of limited companies and certain other bodies resident or trading in the UK. Corporation tax started on 6 April 1966 (before this date […]
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Tax Credit
Definition of Disabled Person's Tax Credit In accordance with the work A Dictionary of Law, this is a description of Disabled Person'S Tax Credit : An income-related benefit that, under the Tax Credits Act 1999, replaced disability working allowance in October 1999. Administered by the […]
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Tax Credit
Definition of Disabled Person's Tax Credit In accordance with the work A Dictionary of Law, this is a description of Disabled Person'S Tax Credit : An income-related benefit that, under the Tax Credits Act 1999, replaced disability working allowance in October 1999. Administered by the […]
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Capital Transfer Tax
Definition of Capital Transfer Tax In accordance with the work A Dictionary of Law, this is a description of Capital Transfer Tax : CTT (capital transfer tax, CTT) A tax formerly levied on property passing on death and on transfers of wealth during a person's lifetime. See inheritance tax.
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Income Tax
Introduction to Income Tax Great Britain was the first country -in accordance to Bamber Gascoigne´ Encyclopedia of Britain about the entry income tax- to introduce income tax. In 1799 William Pitt, needing funds for the war against France, levied 10% per annum on incomes over £200, with a […]
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Council Tax
Definition of Council Tax In accordance with the work A Dictionary of Law, this is a description of Council Tax : A form of local tax levied on all private households (with some exceptions) to contribute to the cost of local government. It was introduced by the Local Government Finance Act […]
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Council Tax
Definition of Council Tax In accordance with the work A Dictionary of Law, this is a description of Council Tax : A form of local tax levied on all private households (with some exceptions) to contribute to the cost of local government. It was introduced by the Local Government Finance Act […]