imported>Doug Williamson |
imported>Doug Williamson |
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| (HMRC).
| | <i>Bank resolution.</i> |
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| ''UK tax.''
| | (MPE). |
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| | Multiple Point of Entry resolution of a failed or failing bank group splits it up into its parts. |
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| 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.
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| | Healthy parts might be sold, or be maintained as a residual group. |
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| __TOC__
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| | Distressed parts would need to be resolved variously via: |
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| ===Policy maintenance and implementation===
| | (1) Purchase and Assumption, |
| *Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities
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| *Makes sure that money is available to fund the UK’s public services
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| * Facilitates legitimate international trade, protects the UK’s fiscal, economic, social and physical security before and at the border, and collects UK trade statistics
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| *Administers Statutory Payments such as statutory sick pay and statutory maternity pay
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| *Helps families and individuals with targeted financial support through payment of tax credits
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| *Administers Child Benefit
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| *HMRC is a high volume business; almost every UK individual and business is a direct customer of HMRC
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| *Aims to administer the tax system in the most simple, customer focused and efficient way
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| *Administers the Government Banking Service
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| | (2) Liquidation and Payout or |
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| ===Responsibilities===
| | (3) Bailin of units/subsidiaries. |
| *[[Income Tax]], [[Corporation Tax]], [[Capital Gains Tax]], [[Inheritance tax]], Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes
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| *Environmental taxes
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| *Climate change and aggregates levy and landfill tax
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| *Value Added Tax ([[VAT]]) including import VAT
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| * Customs duty
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| *Excise duties
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| * Trade statistics
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| *National Insurance
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| *Tax Credits
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| *Child Benefit
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| *Enforcement of the National minimum wage
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| *Recovery of student loan repayments
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| == See also == | | == See also == |
| * [[Direct tax]] | | * [[Single Point of Entry]] |
| * [[Exempt approved status]] | | * [[Bailin]] |
| * [[Inland Revenue]] | | * [[Liquidation and Payout]] |
| * [[Internal Revenue Service]] | | * [[Purchase and Assumption]] |
| * [[MCT]]
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| * [[Tax avoidance]]
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| * [[Tax evasion]]
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| * [[Tax haven]]
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| * [[Tax point]]
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| * [[Tax written down value]]
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| * [[Taxable person]]
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| * [[Taxable transaction]]
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| * [[Taxpayer’s Charter]]
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| * [[Treasury]]
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| == Other links ==
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| [https://www.gov.uk/government/organisations/hm-revenue-customs/about About HMRC]
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| [[Category:Accounting,_tax_and_regulation]]
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Bank resolution.
(MPE).
Multiple Point of Entry resolution of a failed or failing bank group splits it up into its parts.
Healthy parts might be sold, or be maintained as a residual group.
Distressed parts would need to be resolved variously via:
(1) Purchase and Assumption,
(2) Liquidation and Payout or
(3) Bailin of units/subsidiaries.
See also
