Did you know, the word tax comes from the Latin ‘taxo’, which means ‘I estimate’?
Surprisingly, this isn’t the only fascinating fact about tax there is. The first ever UK tax was introduced by William Pitt to fund the war against Napoleon, the rate of which was 10%. Meanwhile, the highest rate of income tax was during the Second World War.
Another fascinating fact about British tax is that the Queen doesn’t have to pay income tax, but, thankfully, she does it voluntarily, along with capital gains tax since 1992.
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