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Essay example - Historical Events that Shaped Modern Tax Laws in the United Kingdom: An Analysis of the Smithfield Riots of 1647 & The Napoleonic War of 1798.
Finance & Accounting
Pages 7 (1757 words)
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…
Extract of sample
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. ...
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