Her Majesty’s Revenue & Customs
From ACT Wiki
UK tax.
(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
- MCT
- Tax avoidance
- Tax evasion
- Tax haven
- Tax point
- Tax written down value
- Taxable person
- Taxable transaction
- Taxpayer’s Charter
- Treasury
