Historical Events that Shaped Modern Tax Laws in the United Kingdom: An Analysis of the Smithfield Riots of 1647 & The Napoleonic War of 1798.

Historical Events that Shaped Modern Tax Laws in the United Kingdom: An Analysis of the Smithfield Riots of 1647 & The Napoleonic War of 1798. Essay example
Masters
Essay
Finance & Accounting
Pages 7 (1757 words)
Download 0
In these two millenia, a lot of transformation and reformation have occurred in the UK taxation system and this laid the foundations for the income tax, corporation tax, value added tax, excise duties and other forms of taxation that exist today in Britain and to a large extent, America and the British Commonwealth…

Introduction

The first recorded taxation systems were imposed by the Roman occupation . However, when the Roman empire declined, Saxon kings imposed the Danegeld tax which were levied on property and land . With time, when the English Monarchy was established after the Norman's conquest, custom duties on imported goods were imposed. In 1377, the poll tax was levied on individuals in a progressive manner where poor people paid less whilst richer people paid more
In the reign of King Charles I in the 1600s, he argued for high taxes because he claimed it was the divine right of the king . With time, the Parliament got upset with his requirement because he was demanding a progressive taxation system whereby the rich would pay more whilst the poor would pay less . Since most of the parliamentarians and nobles were going to be affected by this new arrangement, the disagreement went on and on until King Charles I was charged with treason by parliament and executed in 1647 . Eventually, this led to a period where the monarchy was suspended and replaced by Parliament and a Prime Minister.
This paper examines two critical incidents in England at the end of the medieval period and the renaissance which shaped the taxation system of Britain as we have it today. ...
Download paper
Not exactly what you need?

Related papers

Commodity Trading in the United Kingdom
This research study examines how two of the largest commodity traders in the world, Vitol and Glencore International, conduct their commodity trading activities through the commodity exchanges in the United Kingdom and in its OTC market. The pit trading system of the years gone by is now replaced by electronic systems that receive orders from traders through the Internet to match these orders with…
A Comparative Analysis of Internet Banking in the United Kingdom and Thailand
In the ubiquitous computing age and a competitive era for banking, customers now present new demands for access and service to keep banks interested in enhancing Internet banking. United Kingdom now presents 6.5 million customers for Internet banking services, and Thailand has a customer base of around 2 million, with both countries expecting continued strong growth in Internet banking, which also…
Civil war is one the events those are the base of a new tax arena
The main aim of the taxation system is to provide better services to people. On the other hand, sometimes taxation can produce adverse effects. It is the possibility that the government unnecessary or huge level of taxes form citizens. There are many interesting events in the history that which have been influenced by the tax policy issue. An example of this can be seen in the case of Lady,…
Corporate Governance in the United Kingdom
The rules-based approach to corporate governance was largely influenced by the Sharbanes and Oxley Act in the USA, which enshrined that the management and the board of an organization are expressly accountable for the financial reports that are published by their organization. (Mallin, 2005) Penalties are put in place for any instances of transgression as wells as setting rules on corporate…
FINANCE AND ACCOUNTING
Memorandum …
The United Kingdom and Proposed European Union Financial Transaction Tax
This EU financial transaction tax is different from a bank levy. Regulators believe that the proposed policy has the potential to raise nearly 57 billion Euros per year. This proposal has been the topic of a hot debate across the European Union since its announcement in 2010 and it still remains controversial among the member states of the EU. This paper will critically appraise the statement that…
individual income tax. "USA Indiana state laws "
The taxpayer participates in racecar driving on mini circuit. The car is hers and she is her own mechanic. She lost money during the first two competition years. Taxpayers often receive gifts support the products of racing. The question is whether how the deductions will apply to the swimming pool, the gift, the office, the losses she experienced in racing. It also extends to the treatment that…