1 VAT Value Added Tax: 17.5% 2000-01 375.6 Income tax 25.5% VAT 15.9% National Insurance contributions) 15.7% VAT Corporation tax 9.0% Petrol duties 6.2% 70% -1-
2000-01 Income tax (net of income tax credits) a 95.9 25.5 National Insurance contributions) 58.8 15.7 Capital taxes Capital gains tax 3.4 0.9 Inheritance tax 2.3 0.6 Stamp duties 7.2 1.9 Value added tax 59.6 15.9 Other indirect taxes Petrol duties 23.3 6.2 Tobacco duties 7.4 2.0 Alcohol duties 6.6 1.8 Betting and gaming duties 1.4 0.4 Vehicle excise duty 4.9 1.3 Air passenger duty 1.0 0.3 Insurance premium tax 1.6 0.4 Landfill tax 0.4 0.1 Customs duties and levies) 2.0 0.5 b Corpiration tax 33.8 9.0 Petroleum revenue tax 1.2 0.3 National non-domestic rates 16.2 4.3 0.5 0.1 13.6 3.6 8.2 2.2 Interest and dividends 4.4 1.2 Gross operating surplus and rent 19.6 5.2 2.3 0.6 375.6 100.0 a Gross income tax minus income tax credits. b Includes residual advance corporation tax (ACT) repayment of 0.2 billion. HM Treasury, Financial Statement and Budget Report, 2000 http://www.hm-treasury.gov.uk/budget2000/fsbr/contents.htm). 2-2-
2 1 :2000-01 0 1,520 10 1,521 28,400 22 28,400 40 allowance 65 4,385 65 74 5,790 75 6,050 65 74 5,185 75 5,225 2001 4,420 2000-01 Taxable Income 1,520 170 25.84 28,400 482.8 1999 20,000 Allowances -3-
1 Basic allowance 4,385 74.545 65 74 5,790 75 6,050 2 65 74 5,185 75 5,225 2001 Children's tax credit 4,420 170 75.14 1 TOP 1 2-4-
1 100% 13 13 13 13 12 12 12 12 80% 43 43 42 42 40 40 40 40 60% 44 44 45 45 48 48 48 48 40% 20% 33 33 34 34 37 37 37 37 16 16 17 17 20 20 20 19 0% 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-991 1999-20001 Top 1 per cent Top 5 per cent Top 10 per cent Next 40 per cent Lower 50 per cent National Statistics 2000 Inland Revenue Statistics 2000, A National Statistics publication.,p27 1997-98 Range of total income tax(lower limit) Taxpayers Tax 1 4.7 0.1 100 14.5 1.4 500 14.4 3.6 1,000 12.8 5.4 1,500 10.8 6.4 2,000 8.9 6.8 2,500 7.4 6.8 3,000 10.3 12.4 4,000 6.0 8.9 5,000 6.4 14.2 10,000 3.8 34.0 Total 100.0 100.0 National Statistics 2000 Inland Revenue Statistics 2000, A National Statistics publication. 14.5% 14.3% 10,000 34.0% -5-
2 2 1 a a VAT 1999-00 100 7,800 2,750 1,750 1,800 1,300 1,100 950 650 150 350 200 1,800 b c 35 a 2,650 1,650 a a 900 a 550 400 100 a 100 900 100 27,950 b 2001 c 2001-02 L. Chennells, A. Dilton and N. Roback 2000 "A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9.p8-6-
VAT 3 Petrol duties 780 1 L. Chennells, A. Dilton and N. Roback 2000 3-7-
2 2000-01 2000 VAT 20 70.7% 88.2 181 22 87 26 14.4 29.3 75cl 116 35.5 50.4 70cl 548 44.6 59.5 51 70.3 85.2 49 74.8 89.7 49 73.6 88.5 L. Chennells, A. Dilton and N. Roback 2000 "A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9.p9 excise duties Vehicle excise duty Air passenger duty Insurance premium tax Landfill tax 3 1993 11.2 9.9 9.5 8.6 7.1 8.6 1.0 0.9 0.9 0.8 0.5 0.7 0.8 0.7 0.7 0.6 0.7 0.7 5.5 3.3 2.2 1.3 0.5 1.7 2.4 2.2 2.1 1.9 1.2 1.8 0.8 0.7 0.7 0.6 0.4 0.6 2.3 1.8 1.7 1.2 0.9 1.4 7.1 5.8 5.3 4.8 3.9 4.9 31.2 25.4 23.0 19.9 15.3 20.2 S. James and C. Nobes 2000, The Economics of Taxation, Fiscal Times Prentice Hall.p244-8-
11.2 9.9% 31.2% 2 3 2000-01 10,000 10 10 10,001 50,000 22.5 10-20 50,001 300,000 20 20 300,001 1,500,000 32.5 20-30 1,500,000 30 30 L. Chennells, A. Dilton and N. Roback 2000 "A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9.p13 1997 33% 31 1999 30% 2000-01 10,000 10% 300,000 capital allowance declining-balance basis straight-line basis -9-
2 4 1 Capital gain tax 2000-2001 7,100 10% 22 20% 0 100% 40% 100.0% 40% 1 100 40 87.5 35 2 100 40 75 30 3 95 38 50 20 4 90 36 25 10 5 85 34 25 10 6 80 32 25 10 7 75 30 25 10 8 70 28 25 10 9 65 26 25 10 10 60 24 25 10 : L. Chennells, A. Dilton and N. Roback 2000 "A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9.p11 1998-10-
0.95 2 1996-97 5.2 2,000,000 1993-94 1994-95 1995-96 1996-97 100,000-200,000 200,000-300,000 300,000-500,000 500,000-1,000,000 1,000,000-2,000,000 16.7% 17.4% 15.0% 0.0% 55.2% 56.8% 55.9% 56.4% 57.9% 59.4% 60.6% 56.4% 65.1% 63.2% 66.7% 62.9% 67.8% 69.2% 67.7% 66.5% 2,000,000 75.2% 70.1% 73.3% 72.5% 6.2% 6.8% 6.8% 5.2% National Statistics 2000 Inland Revenue Statistics 2000, A National Statistics publication.p.127 1988 110,000 92 150,000 95 154,000 96-11-
200,000 1996-97 96 2000 234,000 170 3,978 capital transfer tax inheritance tax 1986 1988 3,000 0-3 0 40 3-4 20 32 4-5 40 24 5-6 60 16 6-7 80 8 L. Chennells, A. Dilton and N. Roback 2000 "A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9.p12 potentially exempt transfer -12-
100 2 5 community chargepoll tax 1993 counsil tax 4 business rates 1990 4 Counsil office -13-
5 3 17.5% 5-14-
Chennells, L.,Dilton, A and N.Roback 2000,"A Survey of the UK Tax System", The Institute for Fiscal Studies, Briefing Note No.9. Foreman, A. 2000, Tax Handbook 2000-01, Allied Dunbar. Golding, J. 2000, Tolley's Inherritance Tax 1999-2000, Tolley Publishing James, S. and C. Nobes 2000, The Economics of Taxation, Fiscal Times Prentice Hall. Lymer, A. and D.Hancock 2000, Taxation Policy and Practice seventh edition 2000/2001, Thomson Learning. National Statistics 2000, Inland Revenue Statistics 2000, A National Statistics publication. -15-