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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4422
Experience:  FCCA FCMA CGMA ACIS
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What is uki tax

Customer Question

what is uki tax
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi. Can you tell what you want to know please. Your question is somewhat vague.
Customer: replied 2 years ago.
I have heard the terms 'UKI' tax, 'financial' tax and 'normal' tax. I need to have a rough idea of what each of these are and how they differ. It is possible I misheard 'UKI' and perhaps it should be something like UK & I.
Customer: replied 2 years ago.
Hi Tony, did you get my clarification? Did it make sense?
Expert:  TonyTax replied 2 years ago.
I've worked in tax for 36 years and I've not heard the terms "UKI tax", "financial" tax or "normal" tax. What context do you need this information for?
Customer: replied 2 years ago.
Possible interview questions
Expert:  TonyTax replied 2 years ago.
Thanks.
I'm going to opt out to allow someone else to answer as I only answer questions from people with a tax issue specific to themselves or a client of theirs.
Customer: replied 2 years ago.
Fair enough. May be 'financial' tax should be 'financial transaction tax'.
Customer: replied 2 years ago.
Is UKI sometimes used as an abbreviation for UK Income tax?
Expert:  bigduckontax replied 2 years ago.
Hello, I am Keith, one of tyhe experts on Just Answer, and pleased to be able to help you with your question. The Financial Transaction Tax is a proposal made by the European Commission to introduce afinancial transaction tax (FTT) within some of the member states of the European Union initially by 1 January 2014, later postponed to 1 January 2016. The tax would impact financial transactions between financial institutions charging 0.1% against the exchange of shares and bonds and 0.01% across derivative contracts, if just one of the financial institutions resides in a member state of the EU FTT [Wikipedia]. You can read all about this matter here: https://en.wikipedia.org/wiki/European_Union_financial_transaction_tax I have never heard on UK Income tax being so abbreviated. Income tax was introduced as a temporary measure if I recall to fund the Napoleonic Wars. It was discontinued and reintroduced as the Wars extended and then withdrawn a year after the Battle of Waterloo. It was reintroduced in 1842 as a result of an empty Exchequer. A brief history of UK taxation can be found here: https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom A general background knowledge of those two taxes should assist you in a job interview. I do hope that my answer has been of assistance.
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4422
Experience: FCCA FCMA CGMA ACIS
bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.