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:
“Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
—Andrew Jackson (1767–1845)
“An alliance is like a chain. It is not made stronger by adding weak links to it. A great power like the United States gains no advantage and it loses prestige by offering, indeed peddling, its alliances to all and sundry. An alliance should be hard diplomatic currency, valuable and hard to get, and not inflationary paper from the mimeograph machine in the State Department.”
—Walter Lippmann (1889–1974)
“Then Jesus called the twelve together and gave them power and authority over all demons and to cure diseases, and he sent them out to proclaim the kingdom of God and to heal.”
—Bible: New Testament, Luke 9:1,2.