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Income Tax Act 1842
The Income Tax Act 1842The citation of this Act by this short title was authorised by the Short Titles Act 1896, section 1 and the first schedule. Due to the repeal of those provisions it is now authorised by section 19(2) of the Interpretation Act 1978. (citation 5 & 6 Vict c. 35) was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a temporary measure, income tax has been levied continually in Britain ever since. In its detail, the Act of 1842 was substantially similar to the Income Tax Act 1803 introduced by Henry Addington during the Napoleonic Wars. See also * UK tax *UK labour law United Kingdom labour law regulates the relations between workers, employers and trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short Titles Act 1896
The Short Titles Act 1896 (59 & 60 Vict c 14) is an Acts of Parliament in the United Kingdom, Act of the Parliament of the United Kingdom. It replaces the Short Titles Act 1892. This Act was retained for the Republic of Ireland by section 2(2)(a) of, and Part 4 of Schedule 1 to, the Statute Law Revision Act 2007. In that country, this Act is one of the Short Titles Acts 1896 to 2007. Section 1 and Schedule 1 authorised the citation of 2,095 earlier Acts by short titles. The Acts given short titles were passed between 1351 and 1893. This Act gave short titles to all public general Acts passed since the Union of England and Scotland and then in force, which had not already been given short titles, except for those omitted from the Revised edition of the statutes, Revised Edition of the Statutes by reason of their local or personal character. In 1995, the Law Commission (England and Wales), Law Commission and the Scottish Law Commission recommended that section 1 and Schedule 1 be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interpretation Act 1978
The Interpretation Act 1978 is an Act of the Parliament of the United Kingdom. The Act makes provision for the interpretation of Acts of Parliament, Measures of the General Synod of the Church of England, Measures of the Church Assembly, subordinate legislation, "deeds and other instruments and documents," Acts of the Scottish Parliament and instruments made thereunder (added 1998), and Measures and Acts of the National Assembly for Wales and instruments made thereunder. The Act makes provision in relation to: the construction of certain words and phrases, words of enactment, amendment or repeal of Acts in the Session they were passed, judicial notice, commencement, statutory powers and duties, the effect of repeals, and duplicated offences. The Act repealed the whole of the Interpretation Act 1889, except for sections 13(4) and 13(5) and 13(14) in their application to Northern Ireland. The Interpretation Act (Northern Ireland) 1954 applies in the same way to Acts of the Par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of Parliament
Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of parliament begin as a Bill (law), bill, which the legislature votes on. Depending on the structure of government, this text may then be subject to assent or approval from the Executive (government), executive branch. Bills A draft act of parliament is known as a Bill (proposed law), bill. In other words, a bill is a proposed law that needs to be discussed in the parliament before it can become a law. In territories with a Westminster system, most bills that have any possibility of becoming law are introduced into parliament by the government. This will usually happen following the publication of a "white paper", setting out the issues and the way in which the proposed new law is intended to deal with them. A bill may also be introduced in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of The United Kingdom
The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the UK and the overseas territories. Parliament is bicameral but has three parts, consisting of the sovereign ( King-in-Parliament), the House of Lords, and the House of Commons (the primary chamber). In theory, power is officially vested in the King-in-Parliament. However, the Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation; thus power is ''de facto'' vested in the House of Commons. The House of Commons is an elected chamber with elections to 650 single-member constituencies held at least every five years under the first-past-the-post system. By constitutional convention, all governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Peel
Sir Robert Peel, 2nd Baronet, (5 February 1788 – 2 July 1850) was a British Conservative statesman who served twice as Prime Minister of the United Kingdom (1834–1835 and 1841–1846) simultaneously serving as Chancellor of the Exchequer (1834–1835) and twice as Home Secretary (1822–1827 and 1828–1830). He is regarded as the father of modern British policing, owing to his founding of the Metropolitan Police Service. Peel was one of the founders of the modern Conservative Party. The son of a wealthy textile manufacturer and politician, Peel was the first prime minister from an industrial business background. He earned a double first in classics and mathematics from Christ Church, Oxford. He entered the House of Commons in 1809, and became a rising star in the Tory Party. Peel entered the Cabinet as Home Secretary (1822–1827), where he reformed and liberalised the criminal law and created the modern police force, leading to a new type of officer known in tribute to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British One Penny Coin (pre-decimal)
The British pre-decimal penny was a denomination of sterling coinage worth of one pound or of one shilling. Its symbol was ''d'', from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze. The plural of "penny" is "pence" when referring to an amount of money, and "pennies" when referring to a number of coins. Thus 8''d'' is eight pence, but "eight pennies" means specifically eight individual penny coins. Before Decimal Day in 1971, sterling used the Carolingian monetary system (£sd), under which the largest unit was a pound (£) divisible into 20 shillings (s), each of 12 pence (d). The penny was withdrawn in 1971 due to decimalisation, and replaced (in effect) by the decimal half new penny, with p being worth 1.2''d''. History The kingdoms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax Act 1803
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is widely used as a basis to comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Addington, 1st Viscount Sidmouth
Henry Addington, 1st Viscount Sidmouth, (30 May 175715 February 1844) was an English Tory statesman who served as Prime Minister of the United Kingdom from 1801 to 1804. Addington is best known for obtaining the Treaty of Amiens in 1802, an unfavourable peace with Napoleonic France which marked the end of the Second Coalition during the French Revolutionary Wars. When that treaty broke down he resumed the war, but he was without allies and conducted relatively weak defensive hostilities, ahead of what would become the War of the Third Coalition. He was forced from office in favour of William Pitt the Younger, who had preceded Addington as Prime Minister. Addington is also known for his reactionary crackdown on advocates of democratic reforms during a ten-year spell as Home Secretary from 1812 to 1822. He is the longest continuously serving holder of that office since it was created in 1782. Family Henry Addington was the son of Anthony Addington, Pitt the Elder's physician; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Napoleonic Wars
The Napoleonic Wars (1803–1815) were a series of major global conflicts pitting the French Empire and its allies, led by Napoleon I, against a fluctuating array of European states formed into various coalitions. It produced a period of French domination over most of continental Europe. The wars stemmed from the unresolved disputes associated with the French Revolution and the French Revolutionary Wars consisting of the War of the First Coalition (1792–1797) and the War of the Second Coalition (1798–1802). The Napoleonic Wars are often described as five conflicts, each termed after the coalition that fought Napoleon: the Third Coalition (1803–1806), the Fourth (1806–1807), the Fifth (1809), the Sixth (1813–1814), and the Seventh (1815) plus the Peninsular War (1807–1814) and the French invasion of Russia (1812). Napoleon, upon ascending to First Consul of France in 1799, had inherited a republic in chaos; he subsequently created a state with stable financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
Taxation in the United Kingdom may involve payments to at least three different levels of government: central government (HM Revenue & Customs), devolved governments 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, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion. History A uniform Land tax, originally was introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century.Stephen Dowell, ''History of Taxation and Taxes in England'' (Routledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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