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    British Personal Tax: Income From All Parts Of The World

    2011/4/3 14:22:00 52

    Individual Tax Reform In UK

      

    Individual tax reform

    This is a hot topic in recent years. As for the determination of the tax threshold, there are many discussions. Let's see how the foreign tax is.


    Britain only began to levy personal taxes in 1798, and adopted progressive tax rates according to annual household income (the income was divided into several levels from low to high, with different tax rates at different levels). The annual income of more than 60 pounds was 2 pence per pound, and more than 200 pounds was 2 shillings per pound.

    Britain imposed a personal tax of 6 million pounds in 1799 (about 5 billion 120 million pounds in 2007).


     

     

    Britain

    The central government's revenue comes mainly from personal taxes.

    For residents living in the UK, the income in any part of the world should be included in personal income, and the British citizens who live overseas for a long time should be charged according to the amount of money they import into the country.

    Britain executes different tax rates on wages, dividends and savings income. For wage earners, it first deducts the tax allowance from wages, then pays the income tax, then proceeds to levy its own savings income tax, and the last is the dividend income tax (if any).


    There are various tax-free taxes in the UK. In the 2010-2011 tax year (April 6th to April 5th of next year), the allowance for people under the age of 65 is 6475 pounds, and the family with an annual income of 10 thousand pounds is exempt from 6475 pounds.

    In addition, a certain amount of tax allowance is granted according to the number of people who support the population.


    The British local government is actively studying the levy.

    personal income tax

    For example, if Scotland is legislature to levy a personal tax, it plans to combine the personal and property taxes together.


    Britain also has a social security tax, which is separately borne by employers and employees. The employer pays 12.8% of the salary above 5715 pounds, and the individual pays 11% of the salary of 5715-43875 pounds, and 1% of the 43875 part of the salary.

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