British Hovercraft Corporation (BHC) was a British hovercraft manufacturer that designed and produced multiple types of vehicles for both commercial and civil purposes.
99-583: The British Hovercraft Corporation AP1-88 is a medium-size hovercraft . In a civil configuration, the hovercraft can seat a maximum of 101 passengers, while as a troop carrier, it can transport up to 90 troops. When operated as a military logistics vehicle, the AP1-88 can carry a pair of Land Rovers , a Bv202 tracked vehicle and trailer unit or up to roughly 10 tons (10,000 kg) of cargo. The AP1-88 had several advantages over earlier hovercraft in terms of its increased fuel economy and reduced noise output, which
198-431: A flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income . Countries or sub-units often also impose wealth taxes , inheritance taxes , gift taxes , property taxes , sales taxes , use taxes , environmental taxes , payroll taxes , duties , or tariffs . It
297-433: A pay-as-you-earn basis, with corrections made after the end of the tax year . These corrections take one of two forms: Income-tax systems often make deductions available that reduce the total tax liability by reducing total taxable income. They may allow losses from one type of income to count against another – for example, a loss on the stock market may be deducted against taxes paid on wages. Other tax systems may isolate
396-426: A certain area ( social engineering ). For example, a high excise is used to discourage alcohol consumption, relative to other goods. This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol use disorder . Similar taxes may exist on tobacco , pornography , marijuana etc., and they may be collectively referred to as " sin taxes ". A carbon tax
495-446: A commodity is sold to its final consumer. Retail organizations contend that such taxes discourage retail sales. The question of whether they are generally progressive or regressive is a subject of much current debate. People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive. It is therefore common to exempt food, utilities, and other necessities from sales taxes, since poor people spend
594-598: A corporate entity in March 1966, at which point the Saunders-Roe division of Westland Aircraft and Vickers Supermarine (the two largest hovercraft manufacturers in the world) were merged. Following the merger, Westland Aircraft held 65% of the shares in BHC, while Vickers had a 25% stake in the venture and the British state-owned National Research Development Corporation also held 10% of
693-469: A definition and system of classification of internal taxes, generally followed below. In addition, many countries impose taxes ( tariffs ) on the import of goods. Many jurisdictions tax the income of individuals and of business entities , including corporations . Generally, the authorities impose a tax on net profits from a business , on net gains, and on other income. Computation of income subject to tax may be determined under accounting principles used in
792-496: A full-cargo deck could also be adopted for military and industrial applications to carry payloads of up to 8 tonnes. BHC projected the AP1-88's operating costs to be around £120 per hour, assuming between 2,000-3,000 hours of use per year on a typical 19km route. According to author Ashley Hollebone, the vehicle could be readily adapted to perform various roles, including search and rescue , icebreaking , fire-fighting , passenger transport, and anti-submarine warfare . In March 1983,
891-471: A heavier structure for the AP1-88, thus the design team decided to employ traditional marine construction methods throughout the design; the BHC summarised this approach as having "moved from building low-flying aircraft to making high-flying boats". Typically, on prior hovercraft, construction techniques and materials common to the aviation industry had been employed, which had resulted in vehicles that were expensive to produce, procure, and maintain. Accordingly,
990-399: A high level of simplicity was deliberately present throughout the design of the AP1-88 in order to produce a vehicle with the required level of cost savings; aspects such as the design of the fan blades involved considerably less complexity than on the preceding generation of hovercraft. In order to produce far less noise than earlier hovercraft, which was one of the more important factors of
1089-406: A higher proportion of their incomes on these commodities, so such exemptions make the tax more progressive. This is the classic "You pay for what you spend" tax, as only those who spend money on non-exempt (i.e. luxury) items pay the tax. A small number of U.S. states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax. Such states tend to have a moderate to
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#17328525190961188-638: A higher tax rate. Historically, in many countries, a contract needs to have a stamp affixed to make it valid. The charge for the stamp is either a fixed amount or a percentage of the value of the transaction. In most countries, the stamp has been abolished but stamp duty remains. Stamp duty is levied in the UK on the purchase of shares and securities, the issue of bearer instruments, and certain partnership transactions. Its modern derivatives, stamp duty reserve tax and stamp duty land tax , are respectively charged on transactions involving securities and land. Stamp duty has
1287-497: A large amount of tourism or inter-state travel that occurs within their borders, allowing the state to benefit from taxes from people the state would otherwise not tax. In this way, the state is able to reduce the tax burden on its citizens. The U.S. states that do not levy a state income tax are Alaska, Tennessee, Florida, Nevada, South Dakota, Texas, Washington state, and Wyoming. Additionally, New Hampshire and Tennessee levy state income taxes only on dividends and interest income. Of
1386-540: A pair of more powerful MTU engines. The engine change resulted in considerably more power being available, however this did not increase the craft's passenger capacity. Hovertravel retired the last of its AP1-88 fleet in 2018. Two different versions of the AP1-88 have been operated by the Canadian Coast Guard . In the mid 1990s two AP1-88s, the AP1-88/200 and AP1-88/400, were ordered from GKN Westland Aerospace ;
1485-553: A particular amount. Such upper or lower limits may apply for retirement but not for health-care components of the tax. Some have argued that such taxes on wages are a form of "forced savings" and not really a tax, while others point to redistribution through such systems between generations (from newer cohorts to older cohorts) and across income levels (from higher income levels to lower income-levels) which suggests that such programs are really taxed and spending programs. Unemployment and similar taxes are often imposed on employers based on
1584-625: A result of market forces . Certain countries (usually small in size or population, which results in a smaller infrastructure and social expenditure) function as tax havens by imposing minimal taxes on the personal income of individuals and corporate income. These tax havens attract capital from abroad (particularly from larger economies) while resulting in loss of tax revenues within other non-haven countries (through base erosion and profit shifting ). Legal and economic definitions of taxes differ, such that many transfers to governments are not considered taxes by economists. For example, some transfers to
1683-511: A single-rate form of taxation regardless of ability to pay (the Community Charge , but more popularly referred to as the Poll Tax), led to widespread refusal to pay and to incidents of civil unrest, known colloquially as the ' Poll Tax Riots '. Some types of taxes have been proposed but not actually adopted in any major jurisdiction. These include: An ad valorem tax is one where the tax base
1782-437: A tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax may be levied on " natural " or " legal persons. " A value-added tax (VAT), also known as Goods and Services Tax (GST), Single Business Tax, or Turnover Tax in some countries, applies the equivalent of a sales tax to every operation that creates value. To give an example, sheet steel
1881-631: A various of locations around the world, including Norway , Australia , China , and Taiwan . The AP1-88 has been constructed under licence in Australia and China. During the late 1950s and early 1960s, British inventor Sir Christopher Cockerell had developed a pioneering new form of transportation, embodied the form of the experimental SR.N1 vehicle, which became widely known as the hovercraft . British manufacturer Saunders-Roe , whom Cockerell had worked with in order to develop viable hovercraft, soon developed several commercially-viable vehicles, such as
1980-493: Is a per unit tax, where the tax base is the quantity of something, regardless of its price. An excise tax is an example. Consumption tax refers to any tax on non-investment spending and can be implemented by means of a sales tax, consumer value-added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings. This includes natural resources consumption tax , greenhouse gas tax (i.e. carbon tax ), "sulfuric tax", and others. The stated purpose
2079-430: Is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate. However, this distinction does not apply in other jurisdictions; for example, if using this terminology UK inheritance tax would be an estate tax. An expatriation tax is a tax on individuals who renounce their citizenship or residence. The tax
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#17328525190962178-590: Is a full VAT. The province of Quebec collects the Quebec Sales Tax [QST] which is based on the GST with certain differences. Most businesses can claim back the GST, HST, and QST they pay, and so effectively it is the final consumer who pays the tax. An excise duty is an indirect tax imposed upon goods during the process of their manufacture, production or distribution, and is usually proportionate to their quantity or value. Excise duties were first introduced into England in
2277-442: Is a general tax levied periodically on residents who own personal property (personalty) within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. The tax is often designed with blanket coverage and large exceptions for things like food and clothing. Household goods are often exempt when kept or used within the household. Any otherwise non-exempt object can lose its exemption if regularly kept outside
2376-589: Is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels, and natural gas. The object is to reduce the release of carbon into the atmosphere. In the United Kingdom, vehicle excise duty is an annual tax on vehicle ownership. An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border. Tariffs discourage trade , and they may be used by governments to protect domestic industries. A proportion of tariff revenues
2475-426: Is also possible to levy a tax on tax, as with a gross receipts tax . In economic terms ( circular flow of income ), taxation transfers wealth from households or businesses to the government. This affects economic growth and welfare , which can be increased (known as fiscal multiplier ) or decreased (known as excess burden of taxation ). Consequently, taxation is a highly debated topic by some, as although taxation
2574-440: Is an ad valorem tax levy on the value of a property that the owner of the property is required to pay to a government in which the property is situated. Multiple jurisdictions may tax the same property. There are three general varieties of property: land, improvements to land (immovable human-made things, e.g. buildings), and personal property (movable things). Real estate or realty is the combination of land and improvements to
2673-484: Is considered the most viable option to operate the government (instead of widespread state ownership of the means of production ), as taxation enables the government to generate revenue without heavily interfering with the market and private businesses; taxation preserves the efficiency and productivity of the private sector by allowing individuals and companies to make their own economic decisions, engage in flexible production , competition , and innovation as
2772-433: Is deemed necessary by consensus for society to function and grow in an orderly and equitable manner through the government provision of public goods and public services , others such as libertarians and anarcho-capitalists are anti-taxation and denounce taxation broadly or in its entirety, classifying taxation as theft or extortion through coercion along with the use of force . Within market economies, taxation
2871-464: Is economically justified, as it will not deter production, distort market mechanisms or otherwise create deadweight losses the way other taxes do. When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a payment in lieu of taxes to compensate it for some or all of the foregone tax revenues. In many jurisdictions (including many American states), there
2970-495: Is generally a gain on sale of capital assets—that is, those assets not held for sale in the ordinary course of business. Capital assets include personal assets in many jurisdictions. Some jurisdictions provide preferential rates of tax or only partial taxation for capital gains. Some jurisdictions impose different rates or levels of capital-gains taxation based on the length of time the asset was held. Because tax rates are often much lower for capital gains than for ordinary income, there
3069-465: Is imported by a machine manufacturer. That manufacturer will pay the VAT on the purchase price, remitting that amount to the government. The manufacturer will then transform the steel into a machine, selling the machine for a higher price to a wholesale distributor. The manufacturer will collect the VAT on the higher price but will remit to the government only the excess related to the "value-added" (the price over
British Hovercraft Corporation AP1-88 - Misplaced Pages Continue
3168-537: Is named FairTax . In Canada, the federal sales tax is called the Goods and Services Tax (GST) and now stands at 5%. The provinces of British Columbia, Saskatchewan, Manitoba, and Prince Edward Island also have a provincial sales tax [PST]. The provinces of Nova Scotia, New Brunswick, Newfoundland & Labrador, and Ontario have harmonized their provincial sales taxes with the GST—Harmonized Sales Tax [HST], and thus
3267-528: Is often hypothecated to pay the government to maintain a navy or border police. The classic ways of cheating a tariff are smuggling or declaring a false value of goods. Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy , investment policy , and agricultural policy . A trade bloc is a group of allied countries agreeing to minimize or eliminate tariffs against trade with each other, and possibly to impose protective tariffs on imports from outside
3366-526: Is often imposed based on a deemed disposition of all the individual's property. One example is the United States under the American Jobs Creation Act , where any individual who has a net worth of $ 2 million or an average income-tax liability of $ 127,000 who renounces his or her citizenship and leaves the country is automatically assumed to have done so for tax avoidance reasons and is subject to
3465-547: Is principally due to the decision to power the craft using several diesel engines instead of using gas turbine engines , the latter having been used on earlier craft. From 1983 to 2018, AP1-88-100s were operated in Britain by Hovertravel on a route from Southsea in Hampshire to Ryde on the Isle of Wight . Outside of the United Kingdom, vehicles of the type have also been operated in
3564-486: Is sometimes called a net wealth tax . Recurrent property taxes may be imposed on immovable property (real property) and on some classes of movable property. In addition, recurrent taxes may be imposed on the net wealth of individuals or corporations. Many jurisdictions impose inheritance tax on property at time of inheritance or gift tax at the time of gift transfer. Some jurisdictions impose taxes on financial or capital transactions . A property tax (or millage tax)
3663-439: Is the value of a good, service, or property. Sales taxes, tariffs, property taxes, inheritance taxes, and value-added taxes are different types of ad valorem tax. An ad valorem tax is typically imposed at the time of a transaction (sales tax or value-added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or tariffs). In contrast to ad valorem taxation
3762-399: Is to reduce the environmental impact by repricing . Economists describe environmental impacts as negative externalities . As early as 1920, Arthur Pigou suggested a tax to deal with externalities (see also the section on Increased economic welfare below). The proper implementation of environmental taxes has been the subject of a long-lasting debate. An important feature of tax systems is
3861-412: Is widespread controversy and dispute about the proper definition of capital. Corporate tax refers to income tax, capital tax, net-worth tax, or other taxes imposed on corporations. Rates of tax and the taxable base for corporations may differ from those for individuals or for other taxable persons. Many countries provide publicly funded retirement or healthcare systems. In connection with these systems,
3960-536: The 1973 oil crisis and the 1979 energy crisis , the profitability of the first generation of commercial hovercraft was badly hit, undermining operators' profitability and provoking requests from customers for more fuel efficient vehicles. Furthermore, hovercraft were not the only high-speed water vehicles making advances at this time; competing technologies included the hydrofoil and the pump-jet . As early as 1969, rival hovercraft manufacturers had encountered commercial difficulties and been liquidated . Throughout
4059-658: The British Hovercraft Corporation AP1-88 is a medium-size diesel-powered hovercraft. The AP1-88 was notably cheaper to operate and to purchase, being half the price of the older SR.N6 in both respects. The type was produced in quantity not only by the BHC, but was also constructed under licence by companies in both Australia and China . While plans to procure the BH.7 for the British Army were terminated during 1968, government support continued to be forthcoming;
British Hovercraft Corporation AP1-88 - Misplaced Pages Continue
4158-471: The Ministry of Technology ordered a single BH.7, helping to facilitate the launch of a Navy-orientated version. In 1970, Westland Aircraft acquired the shares of the other parties, resulting in the BHC becoming a wholly owned subsidiary of Westland. In 1971, Westland successfully acquired the competing British rival Cushioncraft from Britten-Norman . During 1977, the BHC created the largest Union Flag in
4257-645: The SR.N4 , a large cross- Channel ferry capable of seating up to 418 passengers along with 60 cars, and the SR.N6 , the first commercially-active hovercraft, capable of seating a maximum of 58 passengers. As a result of high oil prices following the 1973 oil crisis and the 1979 energy crisis , the profitability of the first generation of commercial hovercraft was badly hit, causing some operators to lose money and provoking requests from customers for more fuel efficient vehicles. Advances were quickly made in skirt technology to require less power to keep inflated, and extensions of
4356-472: The customs house , and revenue derived from that source is called excise revenue proper. The fundamental conception of the term is that of a tax on articles produced or manufactured in a country. In the taxation of such articles of luxury as spirits , beer, tobacco, and cigars, it has been the practice to place a certain duty on the importation of these articles (a customs duty ). Excises (or exemptions from them) are also used to modify consumption patterns of
4455-402: The elderly , unemployment benefits , transfer payments , subsidies and public transportation . Energy , water and waste management systems are also common public utilities . According to the proponents of the chartalist theory of money creation , taxes are not needed for government revenue, as long as the government in question is able to issue fiat money . According to this view,
4554-401: The turboshaft engines used on helicopters ; however, by the 1970s, recent advances in diesel engines had made the prospects for applying an entirely different form of powerplant to a new generation of hovercraft increasingly attractive. The BHC successfully developed its own original hovercraft designs during its existence. The BH.7 Wellington class is a military-oriented model, while
4653-479: The 1970s, the BHC made several advances in its skirt technology, such as requiring less power to keep inflated; the company also produced extensions of its existing hovercraft range, which had the benefit of increasing payload capacity. It was also recognised that there were other means to drive down costs and thereby improve the hovercraft's commercial viability. These early vehicles had been powered by gas turbine engines , which were typically similar, or identical, to
4752-408: The AP1-88 is cheap to buy and operate, and it is much quieter". It featured a number of design improvements over previous hovercraft, such as the cockpit having been repositioned to a high-mounted position in order to provide superior all-round visibility to the pilot, and the elimination of rivets via the use of a welded hull instead. Increases in the efficiency of the skirt had enabled the use of
4851-423: The AP1-88's design, it was decided to adopt larger fans that would move at slower sustained fan tip speeds; cylindrical ducts were also set around the propellers in order to lower the amount of sidewise movement in the air. The wooden propeller blades were identical and fixed, unlike the complex variable-pitch propellers of earlier hovercraft, and employed a simple belt-driven arrangement to transfer power instead of
4950-596: The British Government was also keen to implement a regulatory framework for the hovercraft sector, including the implementation of safety certification, leading to the Hovercraft Act of 1968. However, not all commitments made by the British government would be ultimately be fulfilled. As early as 1964, Saunders-Roe had been engaged in studies of very large hovercraft, including a prospective 2,000 ton freighter-orientated vehicle, in addition to its ongoing interest in
5049-643: The Canadian Coast Guard struck a rock breakwater and the craft sustained significant damage. British Hovercraft Corporation Created with the intention of producing viable commercial hovercraft in March 1966, BHC was the result of a corporate merger between the Saunders-Roe division of Westland Aircraft and Vickers Supermarine 's hovercraft interests. None of the Vickers hovercraft designs reached quantity production, manufacturing efforts being centered upon Saunders-Roe's existing portfolio. Perhaps
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#17328525190965148-655: The Westlands Group in 1994, the firm was renamed GKN Aerospace. Inherited designs from the Saunders Roe division of Westland Aircraft: Other: Tax A tax is a mandatory financial charge or levy imposed on a taxpayer (an individual or legal entity ) by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities . Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying
5247-545: The above states, only Alaska and New Hampshire do not levy a state sales tax. Additional information can be obtained at the Federation of Tax Administrators website. In the United States, there is a growing movement for the replacement of all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. The tax proposal
5346-607: The according demands of customers, BHC formed a partnership with operator Hovertravel in order to develop the envisioned hovercraft, which would be a cheaper and quieter successor to the SR.N6; £237,000 of funding was provided by the British Technology Group to support the initiative, which was to be repaid during via a levy on sales on the new craft. The majority of that project's financing originated from BHC itself, which would ultimately spend around £1 million of its own funds on
5445-485: The arts , public works , distribution , data collection and dissemination , public insurance , and the operation of government itself. A government's ability to raise taxes is called its fiscal capacity . When expenditures exceed tax revenue , a government accumulates government debt . A portion of taxes may be used to service past debts. Governments also use taxes to fund welfare and public services . These services can include education systems , pensions for
5544-412: The bloc. A customs union has a common external tariff , and the participating countries share the revenues from tariffs on goods entering the customs union. In some societies, tariffs also could be imposed by local authorities on the movement of goods between regions (or via specific internal gateways). A notable example is the likin , which became an important revenue source for local governments in
5643-431: The company found that the vehicles lacked the power to operate in the presence of strong headwinds, alleging that the type would be unable traverse the intended route at winds in excess of 30 knots and that engine damage could be incurred. In response, the company decided to rebuild both of their AP1-88-100s; the modification involved slightly extending the vehicles' length by 3 feet and replacing all 4 Deutz AG engines with
5742-443: The complex transmissions used prior. Additional noise reduction measures were also employed on the design, such as the rear of the craft being aerodynamically shaped so as to minimise turbulence within the air prior to contact with the fan, while the use of separate engines in order to provide lift and forward movement also had benefits in this respect; earlier craft had to keep running their main engines at high speeds in order to keep
5841-682: The contract being awarded in 1996. These hovercraft were constructed by Hike Metal Products, located in Wheatley, Ontario . The two 400 series were completed in August and December 1998. Canadian vehicles include the CCGS ; Waban-Aki , AP1-88/200, CCGS Sipu Muin , AP1-88/400, and CCGS Siyay , AP1-88/400. On a search and rescue mission on the Fraser River , the AP1-88 CCGS ; Siyay of
5940-404: The cost of the sheet steel). The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer, but remitting only the amount related to the distribution mark-up to the government. The last VAT amount is paid by the eventual retail customer who cannot recover any of the previously paid VAT. For a VAT and sales tax of identical rates,
6039-412: The cost to buy while also having far lower and simpler maintenance requirements. The new hovercraft would be the first BHC hovercraft to make use of separate engines to provide lift and generate forward motion. According to Wheeler, the designation AP1-88 for the craft had in fact came about due to a repeated insistence by Dick Stanton-Jones, BHC's managing director, for misstating the designation given to
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#17328525190966138-407: The country typically requires employers or employees to make compulsory payments. These payments are often computed by reference to wages or earnings from self-employment. Tax rates are generally fixed, but a different rate may be imposed on employers than on employees. Some systems provide an upper limit on earnings subject to the tax. A few systems provide that the tax is payable only on wages above
6237-414: The design by the company's Advanced Project Office, which had been AP118 . The first prototype of this new generation of hovercraft was completed in March 1983. Alongside the construction of a pair of prototypes, BHC decided to complete an initial batch of five production AP1-88s prior to the receipt of any orders. According to BHC, trials of the craft went smoothly and only minor modifications were made to
6336-419: The development of smaller-scale hovercraft. Work on giant ocean-going hovercraft continued under the BHC, but ultimately did not lead to any vehicle larger than the SR.N4 being produced. During 1968, the British government decided to withdraw its backing for the company's feasibility study on large hovercraft, resulting in the BHC's development programme being curtailed. As a result of high oil prices following
6435-422: The effect of discouraging speculative purchases of assets by decreasing liquidity. In the United States , transfer tax is often charged by the state or local government and (in the case of real property transfers) can be tied to the recording of the deed or other transfer documents. Some countries' governments will require a declaration of the taxpayers' balance sheet (assets and liabilities), and from that exact
6534-460: The estates of the deceased. In contrast with a tax on real estate (land and buildings), a land-value tax (or LVT) is levied only on the unimproved value of the land ("land" in this instance may mean either the economic term, i.e., all-natural resources, or the natural resources associated with specific areas of the Earth's surface: "lots" or "land parcels"). Proponents of the land-value tax argue that it
6633-432: The existing vehicles were also performed in order to increase payloads, however it was recognised that there were other means to drive down costs and thereby improve the hovercraft's commercial viability. These early vehicles had been powered by gas turbine engines , which were typically similar, or identical, to the turboshaft engines used on helicopters ; however, by the 1970s, recent advances in diesel engines had made
6732-415: The firm's focus on hovercraft declined as it became increasingly involved in the manufacture of composites for other company's products. In 1984, the company was renamed Westland Aerospace . During the late 1950s and early 1960s, British inventor Sir Christopher Cockerell had, in cooperation with British aerospace manufacturer Saunders-Roe , developed a pioneering new form of transportation, embodied in
6831-488: The first AP1-88, which had been named Tenacity by Cockerell, was completed. Three months later, the second vehicle, named Resolution , was also completed; it was promptly sold to the United States Navy . In 1985, a third AP1-88, Perseverance , was launched just prior to BHC's 20th anniversary. British hovercraft operator Hovertravel procured a pair of AP1-88-100s for conducting scheduled passenger service. However,
6930-471: The form of the experimental SR.N1 vehicle, which became widely known as the hovercraft . British manufacturer Saunders-Roe proceeded with work on various hovercraft designs, successfully developing multiple commercially viable vehicles. These included the SR.N4 , a large cross- Channel ferry capable of seating up to 418 passengers along with 60 cars, and the SR.N5 , the first commercially active hovercraft. British Hovercraft Corporation (BHC) emerged as
7029-756: The government expenditure of taxes raised is often highly debated in politics and economics . Tax collection is performed by a government agency such as the Internal Revenue Service (IRS) in the United States , His Majesty's Revenue and Customs (HMRC) in the United Kingdom , the Canada Revenue Agency or the Australian Taxation Office . When taxes are not fully paid, the state may impose civil penalties (such as fines or forfeiture ) or criminal penalties (such as incarceration ) on
7128-506: The household. Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax. If an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in that state as well. Inheritance tax, also called estate tax, are taxes that arise for inheritance or inherited income. In United States tax law , there
7227-512: The jurisdiction, which tax-law principles in the jurisdiction may modify or replace. The incidence of taxation varies by system, and some systems may be viewed as progressive or regressive . Rates of tax may vary or be constant (flat) by income level. Many systems allow individuals certain personal allowances and other non-business reductions to taxable income, although business deductions tend to be favored over personal deductions. Tax-collection agencies often collect personal income tax on
7326-730: The land. Property taxes are usually charged on a recurrent basis (e.g., yearly). A common type of property tax is an annual charge on the ownership of real estate , where the tax base is the estimated value of the property. For a period of over 150 years from 1695, the government of England levied a window tax , with the result that one can still see listed buildings with windows bricked up in order to save their owner's money. A similar tax on hearths existed in France and elsewhere, with similar results. The two most common types of event-driven property taxes are stamp duty , charged upon change of ownership, and inheritance tax , which many countries impose on
7425-504: The late Qing China . Occupational taxes or license fees may be imposed on businesses or individuals engaged in certain businesses. Many jurisdictions impose a tax on vehicles. A poll tax, also called a per capita tax , or capitation tax , is a tax that levies a set amount per individual. It is an example of the concept of fixed tax . One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16)
7524-475: The loss, such that business losses can only be deducted against business income tax by carrying forward the loss to later tax years. In economics, a negative income tax (abbreviated NIT) is a progressive income tax system where people earning below a certain amount receive supplemental payment from the government instead of paying taxes to the government. Most jurisdictions imposing an income tax treat capital gains as part of income subject to tax. Capital gain
7623-406: The medium-size diesel-powered British Hovercraft Corporation AP1-88 . These vehicles made advances in the efficiency and viability of hovercraft; the AP1-88 was produced in quantity not only by BHC but also under licence in both Australia and China . In 1970, Westland Aircraft acquired the shares from the other firm's owners, making the BHC a wholly owned subsidiary of Westland. During the 1980s,
7722-461: The most high-profile vehicle produced by BHC was the large SR.N4 Mountbatten class hovercraft; it was the largest civil-orientated hovercraft to ever be put into service; several were completed and used in revenue services across the English Channel for multiple decades. Later on, the BHC developed their own newer hovercraft designs, such as the military-oriented BH.7 Wellington class and
7821-451: The new hovercraft by the end of development. Accordingly, during the late 1970s, development work at BHC commenced on the new hovercraft, led by Ray Wheeler. Early on in development, it was decided that the new vehicle would be powered by heavier diesel engines instead of employing a gas turbine powerplant, as the former would generate substantially less noise while also possessing increased fuel efficiency, as well as being only 20 per cent of
7920-439: The noise produced as having been caused by the high tip speed of the drive fans, which was often close to the speed of sound . In addition to the noise issue; both BHC and its clients had a recognised requirement for lower cost vehicles, specifying the successor to the SR.N6 should be capable of being constructed for only half the cost of the earlier vehicle, as well as possessing half of the operating costs as well. In response to
8019-586: The non-paying entity or individual. The levying of taxes aims to raise revenue to fund governing , to alter prices in order to affect demand , or to regulate some form of cost or benefit . States and their functional equivalents throughout history have used the money provided by taxation to carry out many functions. Some of these include expenditures on economic infrastructure ( roads , public transportation , sanitation , legal systems , public security , public education , public health systems ), military , scientific research & development , culture and
8118-417: The percentage of the tax burden as it relates to income or consumption. The terms progressive, regressive, and proportional are used to describe the way the rate progresses from low to high, from high to low, or proportionally. The terms describe a distribution effect, which can be applied to any type of tax system (income or consumption) that meets the definition. The terms can also be used to apply meaning to
8217-501: The production AP1-88s, such as shifting the engines and fuel tanks slightly forward to improve the vehicle's center of gravity and the adoption of firewalls to manage engine-related heat. Upon launch, the company had envisaged selling around 90-100 AP1-88s within the coming decade. Several derivatives of the vehicle and applications of its technology were also examined, including a prospective scaled-up version capable of carrying 200-250 passengers. The British Hovercraft Corporation AP1-88
8316-587: The prospects for applying an entirely different form of powerplant to a new generation of hovercraft increasingly attractive. There were demands from hovercraft operators for vehicles that were not only larger, and therefore capable of transporting higher numbers of passengers, but would generate less noise while the craft was in operation. According to the British Hovercraft Corporation 's (BHC) chief designer Ray Wheeler has stated that studies conducted on prior hovercraft designs had attributed much of
8415-458: The public sector are comparable to prices. Examples include tuition at public universities and fees for utilities provided by local governments. Governments also obtain resources by "creating" money and coins (for example, by printing bills and by minting coins), through voluntary gifts (for example, contributions to public universities and museums), by imposing penalties (such as traffic fines ), by borrowing and confiscating criminal proceeds. From
8514-440: The purpose of taxation is to maintain the stability of the currency, express public policy regarding the distribution of wealth, subsidizing certain industries or population groups or isolating the costs of certain benefits, such as highways or social security. The Organisation for Economic Co-operation and Development (OECD) publishes an analysis of the tax systems of member countries. As part of such analysis, OECD has developed
8613-484: The right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy
8712-436: The shares. Despite the inclusion of Vickers' hovercraft venture, none of its designs were ever taken through to the manufacturing stage; instead, production activity was centred on the existing designs produced by Saunders-Roe, including the SR.N5 Warden class, the stretched SR.N6 Winchester class, and the large SR.N4 Mountbatten class hovercraft. Substantial support for the hovercraft industry, and BHC specifically,
8811-443: The skirt inflated, making hovercraft terminals noisy. The AP1-88 could carry a maximum of 101 passengers for an endurance of 2.2 hours; this could be extended to 5.25 hours by reducing the area available for passengers to a maximum capacity of 90. In addition to the full-cabin model, BHC designed several variations of the craft, including a half-cabin model for carrying up to 40 passengers plus cargo, which could include light vehicles;
8910-410: The supply of people is in fact not fixed over time: on average, couples will choose to have fewer children if a poll tax is imposed. The introduction of a poll tax in medieval England was the primary cause of the 1381 Peasants' Revolt . Scotland was the first to be used to test the new poll tax in 1989 with England and Wales in 1990. The change from progressive local taxation based on property values to
9009-516: The taxation of select consumption, such as a tax on luxury goods and the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption and decreases a tax burden on low end consumption. Taxes are sometimes referred to as "direct taxes" or "indirect taxes". The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. An economic definition, by Atkinson, states that "...direct taxes may be adjusted to
9108-405: The total payroll. These taxes may be imposed in both the country and sub-country levels. A wealth tax is levied on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses , financial securities , and personal trusts. Liabilities (primarily mortgages and other loans) are typically deducted, hence it
9207-672: The total tax paid is the same, but it is paid at differing points in the process. VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax). The difference between output tax and input tax is payable to the Local Tax Authority. Many tax authorities have introduced automated VAT which has increased accountability and auditability , by utilizing computer systems, thereby also enabling anti-cybercrime offices as well. Sales taxes are levied when
9306-443: The view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector , levied on a basis of predetermined criteria and without reference to specific benefits received. In modern taxation systems, governments levy taxes in money; but in-kind and corvée taxation are characteristic of traditional or pre- capitalist states and their functional equivalents. The method of taxation and
9405-501: The world. It was painted on the doors of their hangar on the seafront at East Cowes to celebrate the Silver Jubilee of Elizabeth II . In 1984, the company was renamed Westland Aerospace ; around this time, design work on new hovercraft effectively ceased. Instead, the company became increasingly involved with the manufacture of composites , which were widely used throughout the aerospace industry. Later, after GKN had taken over
9504-509: The year 1643, as part of a scheme of revenue and taxation devised by parliamentarian John Pym and approved by the Long Parliament . These duties consisted of charges on beer, ale, cider, cherry wine, and tobacco, to which list were afterward added paper, soap, candles, malt, hops, and sweets. The basic principle of excise duties was that they were taxes on the production, manufacture, or distribution of articles which could not be taxed through
9603-443: Was a form of the poll tax. Poll taxes are administratively cheap because they are easy to compute and collect and difficult to cheat. Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply and poll taxes, therefore, do not lead to economic distortions. However, poll taxes are very unpopular because poorer people pay a higher proportion of their income than richer people. In addition,
9702-423: Was a medium-sized hovercraft , principally differing from preceding BHC designs by its use of an arrangement of four diesel engines instead of a gas turbine powerplant configuration. Upon its introduction, the science & technology magazine New Scientist hailed the AP1-88 as being "sufficiently different to generate cautious optimism that the hovercraft is at least coming of age. Compared to its predecessors,
9801-575: Was sourced directly from the British Government. By 1969, contributions from the British state averaged around £3 million per year; of this, roughly one-third was attributed to research and development contracts, while the remaining two-thirds was divided between financing the Joint Services Military Trials Unit based at Lee-on-Solent and the National Physical Laboratory 's Hythe division. In addition to financing,
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