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Lest we forget…

10 November 2009 / Rob Durrant-Walker
Issue: 4231 / Categories: Comment & Analysis , Capital Gains , Income Tax , Inheritance Tax
ROB DURRANT-WALKER provides a timely reminder of the connections between war and tax


  • The relationship between tax and war.
  • Payments to prisoners of war.
  • Legislative exemptions and extra-statutory concessions.
  • Disposals of rights to receive compensatory payments.
  • Service and disablement pensions.
  • Tax and other service allowances.

Tax has gone hand in hand with war down the years and as we should all know it was the need to help pay for the Napoleonic Wars that really got the ball rolling in the UK with Pitt the Younger’s income tax in 1799.

The First World War saw income tax’s standard rate rise from 6% at the start to 30% by the end and brought in excess profits duty which raised further revenue and removed excessive profits that certain firms were making from the war.

The Second...

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