Modern income tax started with Pitt the Younger. As PM and Chancellor of the Exchequer, he was faced with shoring up the nation’s coffers for the war with Napoleon. In Pitt’s1798 budget, he introduced the tax and it came into force on 9 January 1799. Levied at one per cent on annual incomes above £60,… Continue reading #OTD 9 January – Tax comes in