Taxation in the United Kingdom may involve payments to a minimum of two different levels of government: The central government (HM Revenue and Customs) and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England and Wales, Council Tax and increasingly from fees and charges such as those from on-street parking. In the fiscal year 2007-08, total government revenue was 39.2 per cent of GDP, with net taxes and National Insurance contributions standing at 36.9 per cent of GDP—approximately £600 billion (using 2008 nominal GDP measured in dollars, and converting using 2009 conversion rate).
Read more about Taxation In The United Kingdom: History, Overview, Business and Personal Taxes
Famous quotes containing the words taxation, united and/or kingdom:
“Whether talking about addiction, taxation [on cigarettes] or education [about smoking], there is always at the center of the conversation an essential conundrum: How come we’re selling this deadly stuff anyway?”
—Anna Quindlen (b. 1952)
“It is said that the British Empire is very large and respectable, and that the United States are a first-rate power. We do not believe that a tide rises and falls behind every man which can float the British Empire like a chip, if he should ever harbor it in his mind.”
—Henry David Thoreau (1817–1862)
“O thou undaunted daughter of desires!
By all thy dower of lights and fires;
By all the eagle in thee, all the dove;
By all thy lives and deaths of love;
By thy large draughts of intellectual day,
And by thy thirsts of love more large then they;
By all thy brim-fill’d Bowls of fierce desire,
By thy last Morning’s draught of liquid fire;
By the full kingdom of that final kiss
That seiz’d thy parting Soul, and seal’d thee his;”
—Richard Crashaw (1613?–1649)