His Majesty's Revenue & Customs and Price: Difference between pages

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''UK tax''.
An amount of money given or proposed in relation to a transaction, for example a financial transaction.


(HMRC).
Usually, but not necessarily, quoted on the conventional basis for the market in question.




His 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.
Market prices include foreign exchange rates.
__NOTOC__
 
===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
*Anti-money laundering supervision
 
 
HMRC's work is scrutinised by, among others, the UK parliament's Public Accounts Committee.




== See also ==
== See also ==
* [[Anti money laundering]]
* [[Customer]]
* [[Customs duty]]
* [[Direct tax]]
* [[Exempt approved status]]
* [[HM Treasury]]
* [[Income Tax]]
* [[Inland Revenue]]
* [[Internal Revenue Service]]
* [[National Insurance]]
* [[Public Accounts Committee]]
* [[Tax ]]
* [[Tax avoidance]]
* [[Tax evasion]]
* [[Tax haven]]
* [[Tax point]]
* [[Tax written down value]]
* [[Taxable person]]
* [[Taxable transaction]]
* [[Taxpayer’s Charter]]
* [[Treasury]]
== External link ==
[https://www.gov.uk/government/organisations/hm-revenue-customs/about About us - HMRC]


[[Category:Accounting,_tax_and_regulation]]
*[[Bid-offer price]]
[[Category:The_business_context]]
*[[Market price]]
[[Category:Identify_and_assess_risks]]
*[[Market value]]
[[Category:Manage_risks]]
*[[Rate]]
[[Category:Risk_frameworks]]
*[[Value]]
*[[Yield]]

Revision as of 14:36, 11 May 2016

An amount of money given or proposed in relation to a transaction, for example a financial transaction.

Usually, but not necessarily, quoted on the conventional basis for the market in question.


Market prices include foreign exchange rates.


See also