Her Majesty’s Revenue & Customs

From ACT Wiki
Revision as of 15:45, 20 January 2016 by imported>Doug Williamson (Note 'in the UK'.)
Jump to navigationJump to search

(HMRC).

UK tax.


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 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 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) including import VAT
  • Customs duty
  • Excise duties
  • Trade statistics
  • National Insurance
  • Tax Credits
  • Child Benefit
  • Enforcement of the National minimum wage
  • Recovery of student loan repayments


See also


Other links

About HMRC