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Mansion Tax
A mansion tax is a common name for an annual property tax on high value homes, although the term itself is widely regarded as a misnomer. The tax was only a proposal in the United Kingdom, but proved very controversial and received widespread media coverage. It did not go ahead. Many US states levy a surcharge on the highest-value homes or have a progressive taxation in their real estate transfer tax system, sometimes referred to as “mansion taxes.” Original concept In the United Kingdom, the concept of a mansion tax is widely attributed to Vince Cable. In its original form, proposed in 2009, Cable suggested that all properties valued at over £1 million would be taxed annually. He raised the proposed threshold to £2 million in January 2012. Budget 2012 In an accommodation with Cameron–Clegg coalition, Coalition partners, the proposal was modified and a 7% rate of Stamp Duty Land Tax was levied on house sales over £2 million, following George Osborne's 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Langham Mansions, Warwick Road, London SW5 - Geograph
Langham may refer to: Places Australia * The Langham, Melbourne, a luxury hotel in Melbourne Canada *Langham, Saskatchewan England *Langham, Dorset *Langham, Essex *Langham, Norfolk *Langham, Northumberland *Langham, Rutland *Langham, Somerset *Langham, Suffolk *Langham Hotel, London, a hotel in London *The Langham School, an alternative name for Park View School, West Green United States * The Langham, New York, a luxury hotel in Manhattan, New York City * The Langham (apartment building), a luxury apartment building in Manhattan, New York City * The Langham Huntington, Pasadena, a luxury hotel in Pasadena, California People *Langham Baronets, a title in the baronetcy of England **Sir Charles Langham, 13th Baronet (1870–1951), English entomologist and photographer *Antonio Langham (born 1972), former American professional football player *Bianca Langham-Pritchard (born 1975), Australian field hockey player *Chris Langham (born 1949), British comedy actor *Derald Langha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
10p Tax Rate
The starting rate of income tax, known as the 10p rate (also referred to as 10p tax band), was a special rate of personal income taxation in the United Kingdom that existed from 1999 to 2008. Description The 10p rate was the lowest rate of income tax in the United Kingdom. It meant that certain incomes above the personal allowance would be taxed at a basic rate of 10%, which meant a reduced rate compared with the previous basic UK income tax rate of 23%. History Introduction The reduced tax rate for low incomes was introduced in Gordon Brown's third budget as Chancellor of the Exchequer. Brown said of its introduction: "The 10p rate is very important because it's a signal about the importance we attach about getting people into work and it's of most importance to the low paid. This is not about gimmicks; this is about tax reform that encourages work and families, on the families side it is replacing what was an anomalous married couples' allowance and replace it with a child ... [...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] |
Land Value Tax
A land value tax (LVT) is a levy on the value of land (economics), land without regard to buildings, personal property and other land improvement, improvements. It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating. Land value taxes are generally favored by economists as they do not cause economic efficiency, economic inefficiency, and reduce economic inequality, inequality. A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century. Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity or discourage or subsidize development. LVT is associated with Henry George, whose ideology became known as Georgism. George ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Tax
Council Tax is a local taxation system used in England, Scotland and Wales. It is a tax on domestic property, which was introduced in 1993 by the Local Government Finance Act 1992, replacing the short-lived Community Charge The Community Charge, commonly known as the poll tax, was a system of taxation introduced by Margaret Thatcher's government in replacement of domestic rates in Scotland from 1989, prior to its introduction in England and Wales from 1990. It pr ..., which in turn replaced the domestic rates. Each property is assigned one of eight bands in England and Scotland (A to H), or nine bands in Wales (A to I), based on property value, and the tax is set as a fixed amount for each band. The more valuable the property, the higher the tax, except for properties valued above £320,000 (in 1991 prices). Some property is exempt from the tax, and some people are exempt from the tax, while some get a discount. In 2011, the average annual levy on a property in England was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TheGuardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust Limited, Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centre For Policy Studies
The Centre for Policy Studies (CPS) is a think tank and pressure group in the United Kingdom. Its goal is to promote coherent and practical policies based on its founding principles of: free markets, "small state," low tax, national independence, self determination and responsibility.Andrew Denham and Mark Garnett ''Keith Joseph'' (Chesham 2001), p. 240 While being independent, the centre has historical links to the Conservative Party. It was co-founded by Sir Keith Joseph, Alfred Sherman and Margaret Thatcher in 1974 to challenge the post war consensus of Keynesianism, and to champion economic liberalism in Britain. With this in mind Keith Joseph originally wanted the think tank to study the social market economy, naming it the ' Ludwig Erhard Foundation' and 'Institute for a social market economy' until it was eventually settled on the benign 'Centre for Policy Studies'. The centre has since played a global role in the dissemination of free market economics alongside poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stamp Duty
Stamp duty is a tax that is levied on single property purchases or documents (including, historically, the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions). A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp. The duty is thought to have originated in Venice in 1604, being introduced (or re-invented) in Spain in the 1610s, the Spanish Netherlands in the 1620s, France in 1651, Denmark in 1657, Prussia in 1682 and England in 1694. Usage by country Australia The Australian Federal Government does not levy stamp duty. However, stamp duties are levied by the Australian states on various instruments (written documents) and transactions. Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also diffe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BBC News
BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online news coverage. The service maintains 50 foreign news bureaus with more than 250 correspondents around the world. Deborah Turness has been the CEO of news and current affairs since September 2022. In 2019, it was reported in an Ofcom report that the BBC spent £136m on news during the period April 2018 to March 2019. BBC News' domestic, global and online news divisions are housed within the largest live newsroom in Europe, in Broadcasting House in central London. Parliamentary coverage is produced and broadcast from studios in London. Through BBC English Regions, the BBC also has regional centres across England and national news c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Health Service
The National Health Service (NHS) is the umbrella term for the publicly funded healthcare systems of the United Kingdom (UK). Since 1948, they have been funded out of general taxation. There are three systems which are referred to using the "NHS" name ( NHS England, NHS Scotland and NHS Wales). Health and Social Care in Northern Ireland was created separately and is often locally referred to as "the NHS". The four systems were established in 1948 as part of major social reforms following the Second World War. The founding principles were that services should be comprehensive, universal and free at the point of delivery—a health service based on clinical need, not ability to pay. Each service provides a comprehensive range of health services, free at the point of use for people ordinarily resident in the United Kingdom apart from dental treatment and optical care. In England, NHS patients have to pay prescription charges; some, such as those aged over 60 and certain state ben ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ed Miliband
Edward Samuel "Ed" Miliband (born 24 December 1969) is a British politician serving as Shadow Secretary of State for Climate Change and Net Zero since 2021. He has been the Member of Parliament (MP) for Doncaster North since 2005. Miliband was Leader of the Labour Party and Leader of the Opposition between 2010 and 2015, resigning after Labour's defeat at the 2015 general election. Alongside his brother, Foreign Secretary David Miliband, he served in the Cabinet from 2007 to 2010 under Prime Minister Gordon Brown. Miliband was born in the Fitzrovia district of Central London to Polish Jewish immigrants Marion Kozak and Ralph Miliband, a Marxist intellectual and native of Brussels who fled Belgium during World War II. He graduated from Corpus Christi College, Oxford and later from the London School of Economics. Miliband became first a television journalist, then a Labour Party researcher and a visiting scholar at Harvard University, before rising to become one of Chancel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted to a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements. Under a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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