Her Majesty’s Revenue & Customs
From ACT Wiki
UK tax.
(HMRC).
Her Majesty's Revenue and Customs was established in the UK by Act of Parliament in 2005 as a non-ministerial merged Department established by the Commissioners for Revenue and Customs Act (CRCA) 2005, replacing the formerly separate UK Inland Revenue and Customs and Excise.
Policy maintenance and implementation
- Responsible for safeguarding the flow of money to the UK Exchequer through collection, compliance and enforcement activities
- Makes sure that money is available to fund the UK’s public services
- Facilitates legitimate international trade, protects the UK’s fiscal, economic, social and physical security before and at the border, and collects UK trade statistics
- Administers Statutory Payments such as statutory sick pay and statutory maternity pay
- Helps families and individuals with targeted financial support through payment of tax credits
- Administers Child Benefit
- HMRC is a high volume business; almost every UK individual and business is a direct customer of HMRC
- Aims to administer the tax system in the most simple, customer focused and efficient way
- Administers the UK's Government Banking Service
Responsibilities
- UK Income Tax, Corporation Tax, Capital Gains Tax, Inheritance tax, Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes
- Environmental taxes
- Climate change and aggregates levy and landfill tax
- Value Added Tax (VAT) including import VAT
- Customs duty
- Excise duties
- Trade statistics
- National Insurance
- Tax Credits
- Child Benefit
- Enforcement of the UK's National Minimum Wage
- Recovery of student loan repayments
HMRC's work is scrutinised by, among others, the UK parliament's Public Accounts Committee.
See also
- Customs duty
- Direct tax
- Exempt approved status
- HM Treasury
- Income Tax
- Inland Revenue
- Internal Revenue Service
- National Insurance
- OTS
- Public Accounts Committee
- Tax avoidance
- Tax evasion
- Tax haven
- Tax point
- Tax written down value
- Taxable person
- Taxable transaction
- Taxpayer’s Charter
- Treasury
