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DIRT Tax

wotzgoingon · 2011-03-08 14:55:20

Hey i was just wondering, in what year did DIRT Tax come into effect and was there something similar before it. Thanks!

08-03-2011 2:55pm

#1
wotzgoingon

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Hey i was just wondering, in what year did DIRT Tax come into effect and was there something similar before it. Thanks!

Tagged:

tax

dirt tax

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Comments

#2 08-03-2011 5:45pm

nompere

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It was introduced by Section 31 Finance Act 1986, and 1986/87 (the year ending 5 April 1987) was the first tax year that it applied.

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#3 08-03-2011 8:21pm

wotzgoingon

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nompere wrote: »

It was introduced by Section 31 Finance Act 1986, and 1986/87 (the year ending 5 April 1987) was the first tax year that it applied.

Cheers! Do other countrys have something similar or is it just our goverment ripping us off.

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#4 08-03-2011 10:21pm

nompere

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The UK has a very similar system.

DIRT isn't a rip-off. I know the deduction has increased over the last year, but paying DIRT at 25% is better than paying top rate income tax at 41%.

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#5 08-03-2011 10:26pm

barneystinson

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wotzgoingon wrote: »

...is it just our goverment ripping us off.

Try asking any of the many people in this country without any savings, or the means to generate any, if they think it's a rip off that interest earned would be taxed...!

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