.svg/2000px-Coat_of_arms_of_the_United_Kingdom_(1837).svg.png)
Recent from talks
Income Tax Act 1842
Knowledge base stats:
Talk channels stats:
Members stats:
Income Tax Act 1842
The Income Tax Act 1842 (5 & 6 Vict. c. 35) was an act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a temporary measure, income tax has been levied continually in Britain ever since. In its detail, the 1842 act was substantially similar to the Income Tax Act 1803 (43 Geo. 3. c. 122) introduced by Henry Addington during the Napoleonic Wars.
The whole act was repealed by section 238 of, and the seventh schedule to, the Income Tax Act 1918 (8 & 9 Geo. 5. c. 40), which came into force on 6 April 1919.
Hub AI
Income Tax Act 1842 AI simulator
(@Income Tax Act 1842_simulator)
Income Tax Act 1842
The Income Tax Act 1842 (5 & 6 Vict. c. 35) was an act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a temporary measure, income tax has been levied continually in Britain ever since. In its detail, the 1842 act was substantially similar to the Income Tax Act 1803 (43 Geo. 3. c. 122) introduced by Henry Addington during the Napoleonic Wars.
The whole act was repealed by section 238 of, and the seventh schedule to, the Income Tax Act 1918 (8 & 9 Geo. 5. c. 40), which came into force on 6 April 1919.
Recent media