Read each question carefully and select the answer you think is correct (do your working to determine this as necessary). Once you have made your selection check if this is correct.
In 1965, significant changes were made to the UK tax system. Which two taxes were introduced in that year?
VAT and corporation tax
Income tax and corporation tax
Corporation tax and capital gains tax
Capital gains tax and VAT
According to the latest UK Budget, projections for this fiscal year are that:
Capital gains tax will bring in significantly less revenue than income tax and VAT
Corporation tax will bring in more revenue than VAT
VAT will bring in more revenue than income tax
Inheritance tax will make a significant contribution to total revenue
ITEPA 2003 is currently tax legislation for:
Corporation tax
Capital Gains Tax
Income Tax
VAT
Inheritance taxation
Which of the following is NOT an example of a current UK tax?
Income Tax
Expenditure tax
Capital Gains Tax
Landfill tax
Aggregates tax
Council tax
Business rates
Air Passenger Duty
Which of the following is TRUE?
There is a uniform system of local government taxation throughout the UK
Local governments in the UK raise enough taxation to cover their expenditure
Council tax is based entirely on property values
Council tax replaced the community charge (poll tax) following civil unrest.