(PDF) Advanced Taxation – United Kingdom
Added on 2021-01-22
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Advanced Taxation
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Current practice of UK tax system as to influence the behaviour of recent focus of UKgovernment and evaluation of taxes and related charges as ways of influencing the behaviour......................................................................................................................................................12. Increasing hypothecation as a better way to organise government's revenue and expendituresystem and policies of previous government along with their impact on taxes..........................23. Critical evaluation of the extent at which the current UK system fulfils the desirable taxcharacteristics..............................................................................................................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONAdvanced taxation refers to payment of part of tax in advance. It is a kind of income taxwhich is payable to the Government in case the tax liability of the assesses exceeds a certainlimit set by the tax department of the government (Jones, 2016). In the present study, current taxpractice in UK for influencing the behaviour of recent focus of the government along with somepopular way to influence the behaviour is being discussed. It includes an evaluation ofincreasing hypothecation in the tax for betterment of government's revenue and expendituresystem. Further, the study also shows a critical evaluation of extent of the UK tax system to fulfilthe characteristics of desirable tax system.MAIN BODY1. Current practice of UK tax system as to influence the behaviour of recent focus of UKgovernment and evaluation of taxes and related charges as ways of influencing thebehaviour.The corporation tax of UK is applicable on all incorporated companies. Currently,Government of UK is focusing on maintaining healthiness within all over the country.Government has tried influence the behaviour of corporations by imposing charges and taxes onthem (Veerman and et.al., 2016). Therefore, Government imposed 'sugar tax' on sweeteneddrinks with an objective to reduce the sugar content in the drinks. UK believes in working indirectly. In this regard it has set different rates for thecorporations based on the amount of sugar added by them in their drinks. It has imposed extracharges on different amount of added sugar containing drinks as under:Added sugarCharges8 gram per 100ml24p per litre5-8 gram per 100 ml18p per litreThe imposing of 'Sugar tax' helped the Government in reducing the added sugar by 40%.Government evaluated that imposition of tax results in increasing the sugar added products by10% as a result of which the consumption of these products reduced upto 7%. in this order,various health diseases such as, diabetes has been controlled by the government. 1
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