- •Министерство Финансов Российской Федерации
- •Утверждено и рекомендовано решением
- •(Протокол № )
- •Предисловие.
- •Unit 1. What are taxes?
- •What are taxes?
- •Vocabulary
- •Grammar Revision
- •Unit 2. Progressive and regressive taxes
- •Progressive and regressive taxes
- •Vocabulary
- •In the text find the English equivlents to the following Russian collocations.
- •Unit 3. A history of taxation.
- •A history of taxation.
- •Vocabulary
- •In the text find the answers to the following questions.
- •In the text find the English equivalents to the following Russian collocations.
- •Unit 4. The tax history of great britain.
- •The tax history of great britain.
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 5. The history of the tax system in the united states
- •The history of the tax system in the united states
- •Colonial Times
- •The Post Revolutionary Era
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 6. The history of the tax system in the united states
- •The history of the tax system in the united states
- •World War I and 1920’s
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 7. The history of the tax system in the united states
- •The history of the tax system in the united states
- •The social security tax
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 8. Income tax
- •Income tax
- •Unit 9. Personal taxation in the uk
- •Personal taxation in the uk
- •Vocabulary
- •Chart 1. Personal taxation
- •Unit 10. The flat tax
- •The flat tax
- •Vocabulary
- •Unit 11. Corporate tax in great britain
- •Corporate tax in great britain
- •Unit 12. Corporate income tax Corporate taxation in the usa
- •Corporate income tax
- •Corporate tax rates
- •Defining income
- •Vocabulary
- •Chart 1. Marginal and average corporate tax rates, 1983
- •Verb Noun Adjective
- •Unit 13. (corporation) profit tax in russia
- •(Corporation) profit tax in russia
- •Unit 14. The vat
- •The vat
- •Vocabulary
- •Unit 15. The vat in russia the vat in russia
- •Vocabulary
- •The vat-Invoice
- •Unit 16. The excise
- •The excise
- •For similar items, excise duties are the same for imported and domestically produced goods; if the tax is different, then there is an explicit or implicit customs duty.
- •Vocabulary
- •Exercise 2. Answer the questions
- •Exercise 3. Guess the meaning of the word by its definition
- •Exercise 4. Render the text
- •Exercise 6 Translate from Russian into English
- •Unit 17. Taxation in canada
- •Practise reading the following words and collocation:
- •Taxation in canada
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 18. Taxation in the united kingdom
- •Taxation in the united kingdom
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 19. Taxation in germany
- •Taxation in germany
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 20. Taxation in the republic of ireland Exercise 1 Practise reading the following words and collocation:
- •Taxation in the republic of ireland
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Exercise 5
- •Unit 21. Taxaion in the usa
- •Taxaion in the usa
- •Vocabulary
- •Unit 22. How to avoid axation in the usa how to avoid axation in the usa
- •Vocabulary
- •Exercise 6. Discussion
- •Unit 23. The tax code of the russian federaton
- •Retrospectively, provision, procedure, authority, levy, circumstance, liability, audit, offence, administrative compliance, specify, authority, introduction .
- •Tax Code part II
- •Vocabulary
- •Exercise 7 Explain the following. Consult the text and vocabulary
- •Hierarchy of Norms
- •Vocabulary
- •The History of Taxation in Russia
- •Unit 24. The tax authorities of the rusian federation
- •Unit 25. Genral princiaples of taxation
- •Genral princiaples of taxation.
- •4.1 Efficiency or rationality.
- •4.2 Sufficiency.
- •4.3 Flexibility.
- •4.4 Neutrality.
- •Vocabulary
- •Оглавление
- •Пособие по английскому языку
Unit 9. Personal taxation in the uk
Exercise 1
Answer pre-text questions.
1. How is personal taxation structured in our country?
2. Is the trend in the load of personal taxation upward or downward?
Exercise 2
Read the following words aloud.
Figure; series; allowances; major; couple; private; vaunted; mortgage, loan; society;
Percentage; scheme source; employee; roughly; ranging; account; relief; obliged.
Personal taxation in the uk
Let’s, firstly, study how personal taxation is structured in the UK
and secondly, how it is levied.
Contrary to popular opinion, UK personal taxation is both simple and relatively low. There are two rates:
25 per cent on taxable income up to £23,700, and 40 per cent on income above this figure. Like in most countries, there are series of deductions and allowances which can be taken into account before arriving at net taxable income figure. The major one relates to the status of the individual: a single person's allowance at present stands at £3,295, while a married person's allowance is currently £5,015.
It should be mentioned that the government has recently introduced legislation which allows married couples to opt for separate taxation.
Other allowances or deductions which are common are, firstly, tax relief on private pensions. At the moment this is allowable up to 17.5 per cent of total income, up to the age of 35, rising to 40 per cent above 60 years old. Also the much vaunted tax relief on mortgages or loans to buy a house - here there is currently 7 per cent tax relief on the interest payable to the bank or building society up to a maximum of £30,000 capital borrowed. The percentage relief obviously depends on the interest rates that are operative at any one time.
And now let’s move on to how personal tax is levied. The Inland Revenue obliges employers to operate a PAYE (Pay As You Earn) scheme, which means the tax is deductible at source. In other words, by the employer before making out the monthly salary cheque or bank transfer to the employee. The tax is then collected direct from the employer. At the same time it should be mentioned that the employer is obliged to deduct National Insurance from the employee's salary - the employee's contribution being roughly 9 per cent of income, the employer's ranging from 5 to 10 per cent. These are approximate figures. .
Vocabulary
-
Figure (n)
цифра
Allowance (n)
cкидка, пособие
To take into account
принимать во внимание
Arrive at (v)
прийти к
Currently (adv)
в настоящее время
Opt for (v)
выбирать
Separate (adj)
отдельный
Tax relief
налоговая скидка, налоговая льгота
Vaunt (v)
превозносить
Mortgage (n)
закладная
Loan (n)
заем
Obviously (adv)
очевидно
Operative (adj)
действующий
Oblige (v)
обязывать
PAYE (pay as you earn)
сбор налога у источника
Roughly (adv)
примерно
Range (v)
варьировать
Exercise 3
Complete the information in Charts 1 and 2.