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Chapter 1
THE UK TAX SYSTEM
1. The overall function and purpose of taxation in a modern
society
1.1. Economic factors
Spending by the government and the system of taxation impacts on the economy of a country.
Taxation policies have been used to influence economic factors such as employment levels, inflation
and imports/exports.
Taxation policies are also used to direct economic behaviours of individuals and businesses.
For example, they encourage individual saving habits (Individual Savings Accounts, savings income
and dividend income nil rate bands) and giving to charity (Gift Aid Scheme).
Further, they may discourage motoring (fuel duties), smoking & alcohol (duties and taxes) and
environmental pollution (landfill tax).
As government objectives change, taxation policies may be altered accordingly.
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