Her Majesty’s Revenue & Customs: Difference between revisions
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Her Majesty's Revenuce and Customs was established by Act of Parliament in 2005 as a non-ministerial Department established by the Commissioners for Revenue and Customs Act (CRCA) 2005, replacing the Inland Revenue and Customs and Excise. | Her Majesty's Revenuce and Customs was established by Act of Parliament in 2005 as a non-ministerial Department established by the Commissioners for Revenue and Customs Act (CRCA) 2005, replacing the Inland Revenue and Customs and Excise. | ||
===Policy maintenance and implementation=== | |||
*Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities | |||
*Makes sure that money is available to fund the UK’s public services | |||
*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 are 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 Government Banking Service | |||
==Responsibilities== | |||
===Responsibilities=== | |||
*[[Income Tax]], [[Corporation Tax]], [[Capital Gains Tax]], [[Inheritance tax]], Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes | *[[Income Tax]], [[Corporation Tax]], [[Capital Gains Tax]], [[Inheritance tax]], Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes | ||
*Environmental taxes | *Environmental taxes | ||
* | *Climate change and aggregates levy and landfill tax | ||
*Value Added Tax ([[VAT]]) | *Value Added Tax ([[VAT]]) | ||
*Excise duties | *Excise duties | ||
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*Enforcement of the National minimum wage | *Enforcement of the National minimum wage | ||
*Recovery of student loan repayments | *Recovery of student loan repayments | ||
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* [[Treasury]] | * [[Treasury]] | ||
[[Category: | |||
==Other links== | |||
[https://www.gov.uk/government/organisations/hm-revenue-customs/about About HMRC] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
Revision as of 15:49, 24 May 2014
(HMRC).
Her Majesty's Revenuce and Customs was established by Act of Parliament in 2005 as a non-ministerial Department established by the Commissioners for Revenue and Customs Act (CRCA) 2005, replacing the Inland Revenue and Customs and Excise.
Policy maintenance and implementation
- Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities
- Makes sure that money is available to fund the UK’s public services
- 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 are 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 Government Banking Service
Responsibilities
- 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)
- Excise duties
- National Insurance
- Tax Credits
- Child Benefit
- Enforcement of the National minimum wage
- Recovery of student loan repayments
See also
- Direct tax
- Exempt approved status
- Inland Revenue
- Internal Revenue Service
- Tax avoidance
- Tax evasion
- Tax haven
- Tax point
- Tax written down value
- Taxable person
- Taxable transaction
- Taxpayer’s Charter
- Treasury
