United Kingdom personal tax at a glance – October 2022

These emails are designed for individuals with interest in United Kingdom taxation. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.

October 2022

  1. In the UK, approximately 32 million people pay taxes.
  2. The UK is a signatory to the Automatic Exchange of Information (AEOI) mechanism, which allows the sharing of information about financial accounts and investments between tax authorities of different countries.
  3. In May 1840, the first postage stamp was created in the UK, featuring Queen Victoria.
  4. Gaming winnings from pool betting, lotteries, or games with prizes are exempt from taxation in the UK.
  5. The monument of Stonehenge is claimed to be one of the oldest monuments in the world.
  6. In the UK, individuals receive a savings allowance of either £1,000, £500, or £0 depending on the persons marginal rate of income.
  7. In 2021/22, it is reported the UK raised over £915 billion a year in receipts – income from taxes and other sources.
  8. Golf was invented in Scotland, with sources believing it was created in 1457.
  9. Between May 2021 and May 2022, the average price of a house in the UK rose by £32,000 to £283,000.
  10. Oxford University is the oldest high education institution in the UK. Until 1877, its lecturers were not allowed to get married.

This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice. 

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