# UK Tax
Personal @ 18 September 2008
Everything we do here in the UK is taxed, I’m not sure what it’s like elsewhere around the world but in the UK we’ve got:
- Income Tax (which is tax on what we earn)
- National Insurance (this specifically goes on things like the NHS and the State Pension)
- Value Added Tax (which is a tax slammed across most products, and is usually 17.5% in England for the products that have it)
- Council Tax (which is a tax paid to the local/regional councils in order to run the area, things like the Police, the Rubbish Collections and things like that are paid for in this tax)
- Corporation Tax (a tax on the profits of businesses)
- Excise Tax (an additional tax for certain products which are produced inside the UK)
- Customs Tax (an additional tax for certain products which are produced outside the UK)
- Stamp Duty (which is a tax for something to do with transferring shares)
- Inheritance Tax (tax on a transfer of valuable things to another person)
- MOT (Motoring Tax)
- Business Rates (an alternative to Council Tax, but for businesses)
There are just way too many taxes in the UK. Maybe its worth being so split up, maybe it’s not…. I’m trying not going to judge. I’d just like to make sure that it’s being spent on worthwhile things.
I’ve been thinking about taxes and money because I’ve had to sort some things out this lunch time ready for starting the university course — the financial situation is looking a little tight… I’ll just have to see how it goes.
October 28th, 2008 at 10:53 pm
The Brits do have very high taxes 17½ % VAT ask your parents or better yet grandparents how much that VAT was when it started. I bet it was close to 5% or so. All taxes go up and no tax ever ends. Actually On this side of the pond we had a telephone tax to pay for the Spanish American War last year the courts said that the war is now paid for and the tax must end. That war was in 1809. now if the courts could do the same thing with the sales tax, income tax, property tax, pay role tax, fuel tax, state tax, death tax, and the list goes on, and on
October 28th, 2008 at 10:54 pm
that should be 1898.