Her Majesty’s Revenue & Customs and Memorandum of understanding: Difference between pages

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''UK tax.''
(MoU).


(HMRC).
1. ''Law.''


Her Majesty's Revenuce and Customs was established 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 Inland Revenue and Customs and Excise.
A document setting out the main terms of a proposed contract.


Also known as a letter of intent.


__TOC__


Whilst it is not a formal contract, some of the terms may be enforceable.


===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 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


2.


===Responsibilities===
Any other document setting out the terms of an agreement between organisations or individuals, not intended to be legally binding.
*[[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 ==
:<span style="color:#4B0082">'''''International agreements for bank supervision'''''</span>
* [[Direct tax]]
 
* [[Exempt approved status]]
:"The Bank [of England] has a number of MoUs with international authorities to support collegiate/co-operative [bank] supervision."
* [[Inland Revenue]]
 
* [[Internal Revenue Service]]
:''The Bank of England's supervision of financial market infrastructures - Annual Report - 2014 - p12.''
* [[MCT]]
* [[Tax avoidance]]
* [[Tax evasion]]
* [[Tax haven]]
* [[Tax point]]
* [[Tax written down value]]
* [[Taxable person]]
* [[Taxable transaction]]
* [[Taxpayer’s Charter]]
* [[Treasury]]




== Other links ==
== See also ==
[https://www.gov.uk/government/organisations/hm-revenue-customs/about About HMRC]
* [[Bank of England]]
* [[Bank supervision]]
* [[Contract]]
* [[Engagement letter]]
* [[Express term]]
* [[Infrastructure]]
* [[Invitation to treat]]
* [[Offering memorandum]]
* [[Supervisory college]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Latest revision as of 22:43, 18 December 2020

(MoU).

1. Law.

A document setting out the main terms of a proposed contract.

Also known as a letter of intent.


Whilst it is not a formal contract, some of the terms may be enforceable.


2.

Any other document setting out the terms of an agreement between organisations or individuals, not intended to be legally binding.


International agreements for bank supervision
"The Bank [of England] has a number of MoUs with international authorities to support collegiate/co-operative [bank] supervision."
The Bank of England's supervision of financial market infrastructures - Annual Report - 2014 - p12.


See also

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