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Calculations by Patrick Minford, of Cardiff Business School, show that — including Vat, excise duties, National Insurance and income tax — a basic rate taxpayer pays £48.50 in tax on every £100 earned. Among higher rate taxpayers the figure is £57.10.
Britain's border problem: The British are leaving
Official data show that more than 350,000 people leave the country every year, up almost 50 percent from 10 years ago. A recent BBC survey remarkably found that 13 percent of people said they were hoping to emigrate in the near future - double the figure from a similar survey conducted three years ago.
At least 4.5 million Britons - about 8 percent of the population - now live abroad, a far bigger diaspora in percentage terms than those of other rich countries like France, Germany, and the US. Those anxious about rising immigration numbers should take note: more Britons now live overseas than the number of foreign nationals resident in Britain.
Chancellor Gordon Brown has cut a swathe through income tax bringing the basic rate down to 22p and introducing a 10p starting rate.
Generally, Capital Gains Tax is payable by second or holiday home owners when the property is sold unless you have owned the property for 22 years or longer.......
........The longer you have owned your French property the less you pay until you reach 22 years where it dwindles to nil. There are exceptions such as pressing family reasons - e.g.death. If your French property becomes your permanent home CGT will not be payable after 5 years of residence for at least 8 months in each year.
Taxes on air travel and "gas guzzling" cars should be raised to cut greenhouse gas emissions, says a committee of MPs.
The UK has a relatively lightly taxed economy, with the overall tax burden well below the average for the European Union and, in particular, countries such as Germany, France, Sweden, Denmark and Italy.
The main corporation tax rate in the UK, at 30 per cent, is lower than in any other major European economy. The UK also has one of the lowest standard rates of VAT in the European Union and, unlike many other European countries, does not impose VAT on a wide range of essential goods, including food and children's clothing.
On average, people in the bottom 20% of the income distribution have gained over 11% per year more from the government, and are £1,430 per year better off.
Those in the top 10% of the income distribution have received about 4% less from the government, an average loss of £2,243.
Between 1988 and 1999, its British division didn't pay a penny in corporation tax, despite making profits of £1.4 billion.
The tax burden Murdoch dumped on the public would have paid for seven new hospitals, or 50 secondary schools or 300 primary schools.
Originally posted by Liberal1984
Excellent post Sminkeypinkey.
Well over a third of U.K taxpayers money goes on Social Security.budget2006.treasury.gov.uk...
Originally posted by Prometheus James
why not simply offer tax cuts equivalent to benefits, instead of earning your money it being taxed then getting an amount back in various benefits?
Originally posted by sminkeypinkey
- The idea is that by specifically targetting the benefit you get to maximise the benefit to those least well off whereas a general tax-cut always benefits everyone including the already most well-off.
Originally posted by Prometheus James
A mother gets child tax credits, instead of recieving this money from the Government she gets a tax cut to the equal amount of said child tax credits.
Historian reveals identity badges, not cards, were compulsory in the 1600s
Research from the University of Warwick reveals that far from being a new idea ID 'cards', in the form of badges, were commonplace in the 1600s.
Just as today's cards will enable people of access public services such as benefits more easily, the 16th and 17th century forms of identification were to show an individual's entitlement to supplement their income and to identify the deserving.
As the government's pilot program to ensure that UK citizens have ID cards by 2011 is implemented, historian Professor Hindle reveals that the concept is far from new. A recent paper entitled "Dependency, Shame and Belonging" examines the practice of making the poor wear badges from the 16th century through to the compulsory identification of all parish paupers under a 1679 statute.