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Taxation in the United Kingdom
Taxation in the United Kingdom
may involve payments to a minimum of three different levels of government: the
central government
(
Her Majesty's Revenue and Customs
), devolved national governments and
local government
. Central government revenues come primarily from
income tax
,
National Insurance
contributions,
value added tax
,
corporation tax
and
fuel duty
. Local government revenues come primarily from grants from central government funds,
business rates in England and Wales
,
Council Tax
and increasingly from fees and charges such as those from
on-street parking
. In the
fiscal year
2014-15, total government revenue was forecast to be £648 billion, or 37.7 per cent of
GDP
, with net taxes and National Insurance contributions standing at £606 billion.
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